ACCT 102 - Practical Accounting II
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.
- 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.
GenEd Outcomes: Creative and Critical Thinking
- Critical Thinking/Problem Solving
- Quantitative/Symbolic Reasoning
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