Accounting II

Accounting II focuses on corporate accounting. Learn about corporate structure characteristics and review stocks, bonds, notes, purchase investments, and analysis of financial statements. Also get an in-depth look at managerial accounting.

What you’ll learn

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Accounting II

$79

Plus membership

3 Credits

All courses include:

eTextbooks

2 to 3-day turnaround for grading

Multiple chances to improve your grade

On-demand tutoring & writing center

Student support 7 days a week

$79

Plus membership

3 Credits

All courses include:

eTextbooks

2 to 3-day turnaround for grading

Multiple chances to improve your grade

On-demand tutoring & writing center

Student support 7 days a week

Accounting II

$79

Plus membership

3 Credits

About This Course

|
ACE Approved 2021

Accounting II focuses on corporate accounting. Learn about corporate structure characteristics and review stocks, bonds, notes, purchase investments, and analysis of financial statements.

What You'll Learn

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.

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Course Details

ACC102

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Accounting II

This online college course provides an understanding of cash flow statements, budgets, and budget management. Also get an in-depth look at managerial accounting.

Prerequisites

There are no prerequisites to take Accounting II though we highly recommend concurrent enrollment in Accounting I.

Topic Objectives
Accounting for Corporations
  • 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.
Accounting for Corporate Bonds
  • 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.
Corporate Financial Statement 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.
Statement of Cash Flows
  • 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.
Managerial Accounting
  • 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.
Manufacturing Accounting
  • 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.
Job Order Accounting
  • 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.
Process Cost Accounting
  • 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.
Cost Allocation
  • 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 with allocation of expenses.
  • Describe a responsibility accounting system and the key components of that system.
Cost Analysis
  • Discuss various cost 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.
  • Describe the budgeting process.
Master Budgets
  • Discuss the uses of budgets as a management tool.
  • Explain the purpose of a master budget.
  • Demonstrate knowledge of budget management procedures and administration.
Flexible Budgets and Standard Costs
  • Discuss the cost behaviors of variable and fixed costs.
  • Explain the preparation of a fixed budget.
  • Describe the use of standard costs in the budgeting process.
Capital Budgets and Managerial Decisions
  • Define the term capital budget and explain how capital budgets are used by 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.

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

Assignments for this course include 4 graded exams.


The required eTextbook for this course is included with your course purchase at no additional cost.


Wild, John J., and Ken Shaw. Fundamental Accounting Principles, 24th edition. McGraw-Hill/Irwin, 2019. ISBN 9781259916960

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