Nov 29, 2020  
2017-18 Catalog 
    
2017-18 Catalog [ARCHIVED CATALOG]

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ACCT 102 - Practical Accounting II


5 CR

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(s): ACCT 101  with a C or better, or ACCT 201  with a C or better, or entry code.

Course Outcomes
  • 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.
 


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