After a brief consideration of the meaning and purpose of accounting, this course explores the basic statements of an accounting system: the balance sheet, the income statement and the statement of owner's equity. Students will examine the accounting cycle with an emphasis on the methods of accumulating and summarizing data generated by business transactions. Students will apply their manual accounting skills to an automated accounting system using general ledger software. Areas of concentration will include adjusting entries, closing process, inventory analysis, merchandising, transactions, cash control procedures, receivables, and payables.

This course will expand upon the basic concepts and theories that students learned in the Principles of Accounting I course. Students will be expected to apply their knowledge in a managerial decision-making mode. Areas studied include, but not limited to, the following: examine long-term assets and liabilities; financial statement analysis; transactions unique to the corporate business structure; bonds payable; planning and controlling using master budgets and cost behavior recognition utilizing cost-volume analysis as well as gaining exposure to accounting for manufacturers. Prerequisite: Principles of Accounting I (ACC101).

Introduction to financial and managerial accounting theory and practice with emphasis on the role of accounting information in business decisions.

A description for this course has not been provided