Course Abstract Details
ACCT-102, Principles of Accounting 2
Credits: 3
Course Description
ACCT-102, Principles of Accounting 2, introduces accounting for corporations and explores both debt and equity financing. Students will also analyze financial statements within the larger context of the annual report. In addition, students examine accounting for manufacturing entities and cost accounting. Prerequisites: ACCT-101. Three hours lecture each week. Three credits. Three billable hours.
Course Objectives and Grading Information
Major Course Objectives: Upon completion of this course, the student will be able to:
1. Distinguish between debt and equity financing and explain the characteristics of each. (ACCT PG 4, BUAD PG 1)
2. Account for the issuance of common and preferred stock. (ACCT PG 4, BUAD PG 1)
3. Record the declaration and payment of cash and stock dividends and account for stock splits. (ACCT PG 4, BUAD PG 1)
4. Account for treasury stock transactions. (ACCT PG 4, BUAD PG 1)
5. Prepare a multi-step corporate income statement, including discontinued operations, extraordinary items, and earnings per share calculations. (ACCT PG 3, BUAD PG 1)
6. Account for the issuance of bonds, including premiums and discounts. (ACCT PG 4, BUAD PG 1)
7. Amortize bonds using the effective interest method. (ACCT PG 4, BUAD PG 1)
8. Prepare and analyze a statement of cash flows. (ACCT PG 3, BUAD PG 1)
9. Understand the information contained in an annual report and analyze the balance sheet, income statement, and statement of cash flows. (ACCT PG 4, BUAD PG 1)
10. Prepare journal entries and financial statements for a manufacturing company. (ACCT PG 4, BUAD PG 1)
11. Record cost information using process and job order costing. (ACCT PG 4, BUAD PG 1)
12. Compute and analyze cost/volume/profit relationships through the use of contribution margin analysis. (ACCT PG 4, BUAD PG 1)
13. Demonstrate quantitative literacy by using accounting models to define, represent, and solve mathematical problems. (ACCT PG 1, GE GOAL 3)
14. Use critical thinking to analyze financial transactions. (ACCT PG 2, GE GOAL 2)
