ACCT 102 Practical Accounting II • 5 Cr.

Description

Covers accounting procedures for corporations and partnerships and analysis of financial statements. Not recommended for students transferring to four-year baccalaureate degree programs. Most four-year universities do not accept this course for credit towards baccalaureate degree requirements. Prerequisite: ACCT 101 with a C or better, or ACCT& 201with a C or better, or entry code.

Outcomes

After completing this class, students should be able to:

• Account for bad debts, distinguish between different inventory-flow assumptions, and calculate cost of inventory.
• Acquire, use, and dispose fixed assets in the accounting records.
• Depreciate fixed assets, amortize intangible assets, and deplete natural resources.
• Calculate bond premium and discount, while considering the time-value-of-money.
• Distinguish between different types of corporate stock and dividends.
• Construct a statement of cash flows using both direct and the indirect methods.
• Infer and assess the liquidity, solvency, and profitability of a corporation using its financial statements.
• Discuss the relationship of ethics to financial accounting.

Offered

• Spring 2021
• Winter 2021 (current quarter)
• Fall 2020