ACCT& 202: Prin of Accounting II

Class Program
Degree Code
Specified Elective
Credits 5 Lecture Hours 55
An introduction to the accounting for fixed assets and depreciation, intangible assets, current liabilities, corporations, partnerships, long-term liabilities, statement of cash flows, and financial statement analysis. This course is the second in a three-course series designed for all accounting and business majors.
Quarters Offered
Course Outcomes

Upon successful completion of the course, students should be able to demonstrate the following knowledge or skills:

  1. Recording fixed assets and related depreciation for these types of assets.
  2. Understand and record entries related to current liabilities.
  3. Understand and apply acceptable accounting procedures for partnerships & LLCs.
  4. Understand and apply acceptable accounting procedures for a corporate entity.
  5. Understand and record entries related to long-term liabilities, including bonds.
  6. Understand and apply acceptable accounting procedures for investments and related fair-value accounting.
  7. Prepare a statement of cash flows.
  8. Calculate and perform financial statement analysis.
Institutional Outcomes
IO1 Communication: Communicate the cumulative effect of business transactions by preparing basic financial statements
IO2 Quantitative Reasoning: Analyze the financial health of a business by interpreting business data obtained from financial statements
Course Content Outline
  1. Introduction
  2. Fixed Assets and Intangible Assets
  3. Current Liabilities and Payroll
  4. Partnerships and LLCs
  5. Corporations
    1. Organization
    2. Capital Stock Transactions
    3. Dividends
  6. Long-Term Liabilities
    1. Bonds
    2. Notes
  7. Investments in Stocks and Bonds and Fair-Value Accounting
  8. Statement of Cash Flows
  9. Financial Statement Analysis
Department Guidelines
The class syllabus must contain course learning outcomes, class environment/expectations/rules, evaluation/grading guidelines, and a disability services statement. A class schedule must be provided to students that contains content covered (text chapters, topics, etc.) and tentative test dates (to include final date/time). These documents should be reviewed with the ACCT Faculty at least one week prior to class start. If an LMS or software is used for the course, it must be approved by the ACCT Faculty.