ACCT 202 Principles of Accounting II

A continuation of ACCT 201, with emphasis on corporations, reporting and analysis, and managerial accounting. 

Credits

3

Prerequisite

ACCT 201

Offered

Fall, Spring

Student Learning Outcomes

1. Have a basic understanding of corporations and investments in corporate stock, including stock and dividend transactions and reporting of stockholders’ equity.
2. Have a basic understanding of selling and accounting for the issuance of long-term debt instruments (bonds). This includes the difference between market and face rates of interest and presentation of this debt on the entity’s balance sheet..
3. Understand the basics of and prepare a Statement of Cash Flows.
4. Prepare and use basic financial statement analysis tools including horizontal, vertical and ratio analysis.
5. Identify the characteristic of managerial accounting and management decision-making.
6. Define and appropriately use terminology regarding various types of costs.
7. Classify, accumulate and summarize job order cost data for management decision making.
8. Use basic cost volume profit analysis tools.
9. Describe the objectives of budgeting, including the two major types of budgeting, prepare and a master budget and its component budgets including a budgeted income statement and a cash budget. 
10. Identify the differences between centralized and decentralized operations, including preparing responsibility accounting reports for cost and profit centers and computing and interpreting rate of return on investment and residual income.
11. Identify and use differential analysis for various decisions.