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ACCT 332 Financial Accounting II (3 Credits)

This course provides a continuation of the previous financial accounting course. Long-term assets and current liabilities would be major concepts in this course. Partnerships, corporate accounting and additional topics like cash flows will also be discussed. Prerequisite ACCT 331

Learning Outcomes:

  • Prepare income statements, balance sheets, cash flows and statement of recognized gains and losses for limited companies from a given set of information in accordance with IGAAP (Internationally Generally Accepted Accounting Practices).
  • Describe and explain the various sources of finance available to businesses, long term - shareholders and financial institutions, short term- bank overdraft, short term loans, hire purchase, leasing, debt factoring, internal cash flow. Understand the dynamics of corporate accounting and partnerships. Learn about public Sector Accounting. Understand the regulatory framework. Understand accounting under the insurance industry. Learn accounting under the banking industry.