ACCT 1013 - Principles of Financial Accounting II
4 Credits
Prerequisites ACCT 1010
This course covers the accounting concepts and principles which are used in a business environment to provide reports on the economic condition of a partnership and corporate organization. The focus will be on the accrual method of accounting, utilizing Generally Accepted Accounting Principles (GAAP) to analyze and record transactions. This course provides detailed information on topics of fixed assets, liabilities, forms of organization, investments, cash flow statements, and financial statement analysis.
Learning Outcomes
Determine current and long-term liabilities. Demonstrate an understanding of valuation and reporting of investments. Understand cost recovery of fixed asset and expensing methods. Define partnerships and limited liability company organizational forms and accounting entries required. Analyze and understand complex cash flow statements. Complete financial statement analysis and evaluate financial performance. Understand the corporate structure and the equity accounting entries required.
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