Accounting II

Course Content from McGraw-Hill
Course Number: ACC102
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Online Accounting II expands on what students learned in online Accounting I, changing the focus to corporate accounting. Lesson topics include how corporations are formed and structured, with an emphasis on corporate characteristics. The course also examines stocks, bonds, notes, purchase investments, analysis of financial statements, cash flow, budgets, and budget management. It offers an in-depth look at managerial accounting.

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3
college credits
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Self Paced
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Accounting
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65 Reviews
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  • 10/6/14 by clasmaldonado
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  • 10/1/14 by john.s
    na
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    na
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  • 8/28/14 by leah
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  • 8/28/14 by leah
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  • 7/26/14 by michelle.r
    Read and know basic materials and this class will be one of the best accounting classes you ever take.
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  • 7/26/14 by michelle.r
    Read and know basic materials and this class will be one of the best accounting classes you ever take.
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  • 7/14/14 by nathan.stark620
    Great preparation for future accounting majors as ell as a valuable overview for the non-accounting inclined.
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  • 7/14/14 by nathan.stark620
    Great preparation for future accounting majors as ell as a valuable overview for the non-accounting inclined.
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  • 8/1/13 by lil_ebb
    Book for the course was easy to find and reasonable at amazon. The Quizzes and Exams were straight forward out the book.
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  • 7/30/13 by camalott
    Overall I was disappointed by how barebones this course was. The online lessons simply consisted of a series of pages to work through, including a audio portion that did not match the text onscreen. They tried supplementing the material by attaching PowerPoint files to read through and Excel files to fill in, but neither were developed for this course, thus they did not help a lot; often they were a waste of time.
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  • 7/17/13 by schulmansm
    Accounting II
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  • 7/11/13 by Kshutt1985
    It was pretty good overall. I was happy the tests were all open book.
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  • 5/14/13 by gentiana2nd
    Excellent course structure and material!
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  • 5/3/13 by t2hope
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  • 5/3/13 by t2hope
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  • 3/14/13 by eyesonhim1
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  • 11/19/12 by methibosheth
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  • 11/19/12 by methibosheth
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  • 9/9/12 by rachellebogart
    I enjoyed the review activities immensly, because they helped me learn the material in a fun way.
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  • 8/13/12 by melissa.adolph
    I like the flexibility of working when I want and as long as I want. I need flexibility with having 2 children. I can work on my assignments throughout the day, 5, 6, 7, days a week. If something comes up and I can't work on assignments that day, I don't get penalized for it.

    I also like that I can pass with a 70%. Not that I don't want to get the best grade possible, but I can work a little faster through the course knowing that I don't have to have a 80 or 90%.
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  • 7/10/12 by sburghoff
    I liked being bale to move along at my own pace. I was able to sompletet he course in just over a month as opposed to 16 weeks for conventional online class.
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  • 6/29/12 by easpilman
    I liked everything being online and also being able to go at my own pace.
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  • 5/16/12 by gregjlee
    I liked that I can go through it as fast or slow as I want
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  • 4/15/12 by gregjlee
    I liked that I was able to go through as fast as I wanted
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  • 2/19/12 by jeffrey.bergman
    I liked that this course was online and available 24/7. I could complete it at my own pace
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  • 2/4/12 by sarah_ann_hud
    I liked the ability to complete the assignments quickly.
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  • 12/23/11 by thebuckstopshere05
    I liked the convenient format. The recommended textbook was very good.
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  • 9/21/11 by jmd223
    I liked the lessons
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  • 9/5/11 by gspatola
    I liked the online flexibility
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  • 7/24/11 by economicallystable
    I liked the review section.
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  • 5/14/11 by TYESCRAZYGIRL
    i loved the fact that i received instant feedback on my test results. it let me know what i needed to improve upon and work harder on.
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  • 3/16/11 by supera1948
    In my opinion, the best part of the course was the interactive lesson. For reviewing with my learning style, I reviewed the best from the flashcards under "Review Activities."
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  • 2/21/11 by gqbrusewitz
    It was very convenient and fast.
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  • 2/16/11 by aankoop
    Its thorough but uncluttered presentation of facts, and the combination of auditory and visual learning.
    Nice graphics in Blackboard.
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  • 2/10/11 by lanetstf
    Love the actual text book flow for this course. Great book model.
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  • 1/16/11 by eletharthur
    Tests correlated well to reading material
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  • 7/10/10 by alchamb
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Course Objectives

After completing this course, students will be able to:

  • Demonstrate knowledge of the accounting techniques used in corporations, including accounting for stock transactions.
  • Discuss the various types of corporate investments, differentiating between influential and non-influential investments.
  • Apply the tools of financial analysis to perform horizontal and vertical analysis.
  • Calculate and interpret various financial ratios.
  • Demonstrate knowledge of, and ability to prepare, a statement of cash flows.
  • Define managerial accounting and understand the techniques used in cost accounting.
  • Demonstrate the ability to prepare financial statements for a manufacturing company.
  • Demonstrate knowledge of process cost accounting systems, including the use of equivalent units of production.
  • Use various allocation methods to allocate overhead and indirect costs.
  • Compute break-even and cost-revenue analysis values and understand how to interpret the results.
  • Define a master budget and how it is used in a business.
  • Discuss a flexible budget and the role of standard costs in the budgeting process.
  • Describe a capital budget and discuss the role of the time value of money in the budgeting process.
Topic Lesson Topic Subtopics Objectives
1 Accounting for Corporations
  • Forming a Corporation
  • Types of Stock and Dividends
  • Recording Stock Transactions
  • Reporting Earnings and Equity
  • Define the term corporation and explain how corporations are structured and formed.
  • Differentiate between common stock, preferred stock and treasury stock and explain how dividends work.
  • Demonstrate the ability to record stock transactions
  • Describe the various procedures for reporting earnings and equity.
2 Accounting for Corporate Bonds
  • Types of Bonds and Accounting for Dividends
  • Issuance of Bonds
  • Bond Retirement
  • Notes payable as a financing option
  • Explain the types of bonds and describe the procedures relating to dividends.
  • Demonstrate knowledge of bond issuance procedures.
  • Discuss the bond retirement process.
  • Describe the use of notes payable as a financing option for corporations.
3 Corporate Investments
  • Types and class of investments
  • Accounting for non-influential investments
  • Influential investments
  • Explain a corporation's motivation for purchasing investments.
  • Demonstrate knowledge of the accounting procedures for influential investments.
  • Describe the various types and classes of investments.
  • Discuss the procedures to account for non-influential investments.
4 Corporate Financial Statement Analysis
  • Analysis Overview
  • Vertical Analysis
  • Horizontal Analysis
  • Ratio Analysis
  • Describe the purpose and basic tools of financial statement analysis.
  • Demonstrate knowledge of vertical analysis.
  • Explain vertical analysis procedures.
  • Calculate financial statement ratios including ratios on profit, liquidity, and financial strength.
5 Statement of Cash Flows
  • Purpose and importance of Statement of Cash Flows
  • Cash Flows from Operations
  • Cash Flows from Investments
  • Cash Flows from Financing
  • Explain the importance and purpose of a statement of cash flows.
  • Demonstrate the ability to prepare a statement of cash flows.
  • Distinguish between cash flows from operations, investments, and financing.
6 Managerial Accounting
  • Purpose and Nature of Managerial Accounting
  • Managerial Costs Concepts
  • Profit and Cost Centers
  • Departmental Operations and Income Statements
  • Explain the purpose and nature of Managerial Accounting.
  • Discuss managerial accounting concepts, including cost classifications.
  • Describe the use of profit and cost centers in managerial accounting.
  • Demonstrate knowledge of departmental accounting operations, including preparation of departmental financial statements.
7 Manufacturing Accounting
  • Cost of Goods Manufactured Statement
  • Manufacturing Income Statement
  • Balance Sheet for Manufacturing Company
  • Manufacturing Business's Accounting Cycle
  • Explain the purpose and usefulness of a statement of cost of goods manufactured.
  • Demonstrate the ability to prepare a manufacturing company's income statement.
  • Demonstrate the ability to prepare a manufacturing company's balance sheet.
  • Discuss the procedures involved in a manufacturing company's accounting cycle.
8 Job Order Accounting
  • Process Cost Accounting System
  • Process Operations
  • Accounting for Job Orders
  • Equivalent Units of Production
  • Define the term process cost accounting.
  • Demonstrate knowledge of the process operations of a company.
  • Explain the importance of process inventory in process cost accounting.
  • Discuss the term equivalent units of production and its role in process cost accounting.
9 Process Cost Accounting
  • Process Cost Accounting System
  • Process Operations
  • Accounting for Job Orders
  • Equivalent Units of Production
  • Define the term process accounting.
  • Demonstrate knowledge of the process operations of a company.
  • Explain the importance of process inventory in process cost accounting.
  • Discuss the term equivalent units of production and its role in process cost accounting.
10 Cost Allocation
  • Allocating Overhead Costs
  • Departmental Accounting with Cost Allocation.
  • Allocating Indirect Expenses
  • Responsibility Accounting
  • Explain how overhead is allocated under the two-stage and activity-based allocation methods.
  • Demonstrate knowledge of how indirect expenses are allocated.
  • Discuss departmental accounting allocation of expenses.
  • Describe a responsibility accounting system and the key components of that system.
11 Cost Analysis
  • Cost Behaviors
  • Measuring Costs Behaviors
  • Break-Even Analysis
  • Cost-Revenue Analysis
  • Cost-Volume-Profit Analysis
  • Discuss various costs behaviors, including fixed, variable and mixed costs.
  • Explain the procedure for measuring cost behaviors.
  • Describe the benefits of using a break-even analysis.
  • Demonstrate the ability to do cost-volume-profit analysis.
  • Discuss cost-revenue analysis.
12 Master Budgets
  • Budgeting Process
  • Administrative Procedures Regarding Budgets
  • Master Budgets
  • Describe the budgeting process.
  • Discuss the uses of budgets as a management tool.
  • Explain the purpose of a master budget.
  • Demonstrate knowledge of budget management procedures and administration.
13 Flexible Budgets and Standard Costs
  • Cost Behaviors in the Budgeting Process
  • Fixed Budget
  • Standard Costs
  • Standard Costs as a Management Tool
  • Flexible Budgets
  • Discuss the cost behaviors of variable and fixed costs.
  • Explain the prepa of a fixed budget.
  • Describe the use of standard costs in the budgeting process.
14 Capital Budgets and Managerial Decisions
  • Capital Budgeting Without Accounting for Time Value of Money
  • Capital Budgeting Factoring in the Time Value of Money
  • Managerial Decision Making
  • Define the term capital budget and explain how capital budgets are usedby managers.
  • Differentiate between a capital budget that accounts for the time value of money and one that does not.
  • Discuss how management uses accounting information to make decisions.
15 Review
  • Accounting for Corporate Bonds
  • Corporate Investments
  • Corporate Financial Statement Analysis
  • Statement of Cash Flows
  • Managerial Accounting
  • Manufacturing Accounting
  • Job Order Accounting
  • Process Cost Accounting
  • Cost Allocation
  • Cost Analysis
  • Master Budgets
  • Flexible Budgets and Standard Costs
  • Capital Budgets and Managerial Decisions
  • None

StraighterLine suggests, though does not require, that students take Accounting I or its equivalent before enrolling in Accounting II

Required Textbook: This course has assigned reading.

Title: Fundamental Accounting Principles, Vol 2 (Chapters 12-25) eTextbook

ISBN: 9780077800222

Our Price: $68.15

Assigned reading material as part of taking this online course.
bookshelfWith every purchase of an eTextbook through StraighterLine, students have access to their texts via the Bookshelf App which syncs to their course, provides offline access for studying on the go, and more.
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book cover

With 55 years of success in the principles of accounting market, Fundamental Accounting Principles, 19e by Wild, Shaw and Chiappetta has endured and adapted to changes in accounting, technology, and student learning styles. Its innovation is reflected in its extensive use of small business examples, the integration of new computerized learning tools, superior end-of-chapter material, and a highly engaging, pedagogical design. Inclusion of Carol Yacht’s General Ledger and Peachtree application software provides students every advantage as they strive to understand the key concepts of accounting and their role in business.

Wild, John J., Kermit D. Larson, and Barbara Chiapetta. Fundamental Accounting Principles, Volume 2, 19th edition. McGraw-Hill/Irwin, 2009. ISBN 9780073379548

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in the course.

Topic Assessment Points Available
3 Graded Exam #1 150
7 Graded Exam #2
150
7 Midterm Exam 200
10 Graded Exam #3 150
14 Graded Exam #4
150
15 Final Exam 200

You are required to take an online proctored final exam in order to be eligible for transfer credit. You can take your proctored final exam at home or anywhere you have access to a webcam with a microphone and a reliable, high-speed internet connection. For additional questions, please refer to the FAQ on Online Proctoring or contact your student advisors at 877-787-8375.

Online Accounting II expands on what students learned in online Accounting I, changing the focus to corporate accounting. Lesson topics include how corporations are formed and structured, with an emphasis on corporate characteristics. The course also examines stocks, bonds, notes, purchase investments, analysis of financial statements, cash flow, budgets, and budget management. It offers an in-depth look at managerial accounting.

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