ACC 102 : Principles of Accounting II
This course is designed to continue with the study of financial accounting. The course covers inventory costing systems, fixed assets and intangible assets, corporations, bonds payable, cash flows and financial analysis. Additionally, the course introduces students to managerial accounting topics, including internally generated reports used to direct operations and make decisions. Computer applications are integrated into the course in a variety of ways, including in a computerized lab setting. Prerequisite: ACC 101 with C or better or permission of the department chair. Three lecture hours and one computer laboratory hour per week. Instructional Support Fee applies. 4 credits Fall, Spring, Summer
- Define and discuss terms used in contemporary accounting.
- Explain the functional role of accounting and its impact on the success of an organization.
- Define ethics as it relates specifically to accounting, as well as to business and to general society.
- Journalize advanced transactions involving inventory, fixed and intangible assets, as well as bonds.
- Perform basic financial analysis.
- Prepare a statement of cash flow and communicate its impact on an enterprise.
- Utilize managerial accounting skills to help managers make decisions.