I 3 credit hours Application of accounting procedures to a single proprietorship including organization of ledgers, accounts, journals, financial statements, management of cash and inventories. ACC 115S Principles of Accounting II 3 credit hours Application of accounting principles and procedures of proprietorships, partnerships, and corporations, including plant assets, depreciation, current liabilities, stockholders equity, long term obligations and financial statement analysis. Financial statement interpretation through use of ratios, comparisons, budgets, trend percentages, industry standards, cash statements and income analysis. Intended for non-accounting majors. In-depth study of the development of managerial skills in using accounting and financial information.
Study provides data needed for decision making and cost planning and control.
In-depth study of accounting theory and problems of statement preparation. Emphasis is on conceptual framework, measurement of income, receivables, inventories, tangible and intangible assets, time value of money, and statement of cash flow. In-depth study of accounting theory and application of problem solving. 3 credit hours Overview of federal income taxation with emphasis on individual and business income taxes. Study of the preparation of the various schedules for the individual, partnership, and corporation.