ACCT& 202 Principles of Accounting II (5 credits)
Distribution Area Fulfilled General Transfer Elective
Formerly BUS 220 - CCN
Prerequisite ACCT& 201 with a grade of at least 2.0.
Course Description
Second accounting course typically required of students transferring to a four-year school to obtain a bachelors degree in business administration. Covers partnerships, bonds, corporations, cash flow statements, and financial statement analysis.
Course Content
A. Plant assets and depreciation
B. Liabilities
C. Stockholders’ Equity: Paid in Capital
D. Income and Changes in Retained Earnings
E. Statement of Cash Flows
F. Financial Statement Analysis
G. Global Business and Accounting
Student Outcomes
1. Identify issues associated with accounting for short-term investments and receivables.
2. Analyze the various inventory methods and identify both income and tax effects
3. Classify the costs of long-term and intangible assets, and allocate these costs using depreciation/depletion/amortization
4. Explain accounting for current and contingent liabilities.
5. Evaluate transactions affecting stockholders’ equity and assess their impact on the financial statements.
6. Categorize bond and equity investments and assess their implications for corporate financing.
7. Discuss the importance of developing professional judgment, with an emphasis on how it informs accounting for long-term assets and liabilities.
8. Prepare the Statement of Cash Flows and analyze its relationship with the Income Statement and Balance Sheet.
9. Evaluate corporate annual reports using financial statement analysis.
Degree Outcomes
Program Outcome: Possess the necessary skills to perform basic functions of entry level bookkeeping/accounting positions.
Information Competency: Graduates will be able to seek, find, evaluate and use information and employ information technology to engage in lifelong learning.
Lecture Contact Hours 50
Lab Contact Hours 0
Clinical Contact Hours 0
Total Contact Hours 50
Potential Methods
A. Multiple choice exam
B. Computational exam
C. Group assignments
D. In-class assignment
E. Essay questions
F. Short written answers
G. Matching questions
H. Homework assignments
I. Classroom observation
J. Written individual solutions to problems
K. Oral individual solutions to problems
L. Oral group solutions (presentation) to problems
M. Comprehensive problem
N. Case studies
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