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ACCT 102 Introduction to Accounting II (3 Credits)

This course emphasizes corporations, partnerships, investments, long term liabilities, investments, financial statement analysis, and cash flows statements. This course also covers cost allocation, managerial accounting, budgets, and analysis of cost-volume-profits. This hands-on course requires students to prepare entries and financial statements. Prerequisite ACCT 100

Learning Outcomes:

  • Describe, explain and calculate accurately different elements of costs.
  • Describe, explain and calculate labor and material costs.
  • Analyze the concepts and principles of and the essential factors behind budgetary control.
  • Identify changes in noncash balance sheet accounts as sources or uses of cash.
  • Understand the essential concepts and principles of break-even analysis and undertake calculations accurately to demonstrate their overall understanding and knowledge.
  • State the general rules for determining whether transactions should be classified as operating activities, investing activities, or financing activities.
  • Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities.
  • Prepare a statement of cash flows using the T-account approach.
  • Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities.