ACC 242 - Principles of Accounting II

Institution:

Northwood University-Michigan

Subject:

Description:

The accounting sequence of ACC 241-242-243 is required of all students. This course continues coverage of the fundamental principles of accounting, how financial data is accumulated and reported, and the uses and limitations of financial data. Introduction is made to the investing and financing cycles of a service and a merchandise business, including the acquisition and sale of long-term assets (property, plant and equipment, intangible assets and investments), interest-bearing debt, and equity. It emphasizes the corporate form of business and includes coverage of partnerships. Coverage also includes the preparation of the statement of cash flows and financial statement analysis. The course will include the use of spreadsheets for problem solving and analysis and an analysis of a company's financial statements. Students will be introduced to accounting software for accounting and reporting. A grade of C- or better in ACC 242 is a prerequisite for ACC 243. Prerequisite: Completion of ACC 241 with a grade of C- or better.

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.northwood.edu

Phone Number:

(989) 837-4200

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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