This course is often helpful in assisting the first-year student in investigating of career options and making or confirming career choices. The first of a two course sequence. Presentation of accounting as the language of business and as an essential part of the decision-making process for the voter, the taxpayer, the government official, the business manager, and the investor based on generally accepted accounting principles. Preparation of financial statements for sole proprietorship service and merchandise businesses. Introduction to the methods of valuation of inventories and estimation of depreciation.
Students complete computer spreadsheet assignments.
A continuation of Accounting I. Accounting for partnerships and corporations. Students use rations in the analysis of a corporate income statement, balance sheet, and cash flow statement. Students apply generally accepted accounting principles in completing case studies and assignments involving ethical standards. Students complete computer spreadsheet assignments. 201 Analysis of the economic behavior of individual consumers, producers, and markets.