Major Concepts/Content: Accounting II expands the accounting concepts learned in Accounting I. Students will be introduced to partnership and corporate accounting concepts, accounting procedures for manufacturing businesses, cost and managerial concepts, and analysis tools. Notes and depreciation will be studied in greater depth.

Major Instructional Activities: Instructional activities will be provided in a classroom, in a lab utilizing individualized instruction, or in an alternative setting. Textbook, workbook problems, business simulation projects, appropriate software, and electronic learning services may be used.

Major Evaluative Techniques: Students will be required to demonstrate an understanding of accounting by passing objective tests, problem-solving tests, and the successful completion of projects.

Essential Objectives: Upon completion of the course, students should be able to

• Define and use applicable accounting terminology.
• Apply appropriate accounting techniques to create and maintain a successful corporation, including the impact of retained earnings and the sale of common and preferred stocks and bonds.
• Describe the unique accounts and costing procedures that are involved in a manufacturing process.
• Explain the relationship that exists between the cost of goods statement and the income statement.
• Compare, analyze, and use a variety of methods to account for depreciation, depletion, and disposal of assets.
• Establish and maintain accounts for notes receivable and notes payable and related interest.
• Compare, explain, and use both deferral and accrual procedures in calculating revenue and expenses.
• Analyze and evaluate company performances through the use of ratios and contribution margin and vertical analyses.
• Explain the importance of requiring high ethical standards in accounting.

Last Revised: April 16, 2007