This course is a study of accounting principles and procedures. The accounting cycle is covered for a service industry. This course is a continuation of Accounting Principles I. Topics include partnership and corporate accounting, financial statement analysis, long-term liabilities, the statement of cash flow, and managerial accounting.
Emphasis is placed on concepts and interpretations.
This course utilizes an integrated accounting computer software package to give students practical experience in working with an automated accounting system. Students learn the input required for an automated General Ledger System including transactions involving asset, liability, and equity accounts and statement preparation. This course is a continued study of the theory and practices of accounting principles regarding the preparation of financial statements. Included is the in-depth study of accounting for assets, liabilities, equities, revenues and expenses at an advanced level. This course is an in-depth study of the integral parts of financial statement analysis in accounting concepts.