ACCT 1110 - Accounting II

4.5 Credits

Students learn the fundamental principles of accounting in this course, the second of three accounting courses covering principles of accounting. Students explore financial topics through real-world illustrations reflecting current business practices. Topics include short- and long-term assets, current liabilities, bonds payable, components of stockholders’ equity, financial statement analysis, the corporate income statement, and statement of cash flows.

Note: Students should attempt to take ACCT 1100, ACCT 1110, and ACCT 1120 immediately after one another to facilitate understanding and learning. It is helpful to complete the math requirements early in the program of study.

Prerequisites: (1) ACCT 1100 with a grade of C or better

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

Define and demonstrate accounting procedures for accounts and notes receivable and for plant assets, natural resources, and intangibles.
Define and demonstrate accounting procedures for current liabilities, payroll and payroll taxes, and for long-term liabilities including bonds payable, differentiating between bond discounts and premiums.
Define stockholders’ equity components and journalize related transactions, accounting for stock and dividend transactions.
Demonstrate knowledge in financial statement analysis.
Define components of corporate income and prepare the corporate income statement.
Prepare the statement of cash flows, differentiating between the types of activities reported.
Explain ethics and why they are important to accounting.

View Class Schedule