Skip to Content

Course ACC102: Accounting II


Accounting II (3 credits)

Course Description

This course presents advanced accounting principles and their application to various businesses and organizations. The course covers cash flows, analysis of financial statements and managerial accounting. The course also studies job and process costing, preparing budgets and performance management. This course is designed to build on Accounting Principles I, giving the business student a deeper understanding of the purpose of accounting and the capacity to perform more advanced accounting functions.

Course Objectives

After completing this course, students will be able to:

  • Identify characteristics of corporations and their organization.
  • Compute and analyze the components of return on total assets.
  • Determine cash flows from both investing and financing activities.
  • Summarize and report results of a financial analysis.
  • Explain the form and assess the content of a complete income statement
  • Explain the purpose and nature of, and the role of ethics in, managerial accounting.
  • Define product and period costs and explain how they impact financial statements.
  • Describe and record the flow of materials, labor and overhead costs in job order cost accounting
  • Describe and perform accounting for production activity and preparation of a process costing summary using weighted average
  • Compute contribution margin and describe what it reveals about a company’s cost structure and compute the break-even point for a single product company
  • Prepare each component of a master budget and link each to the budgeting process.
  • Prepare a flexible budget and interpret a flexible budget performance report.
  • Prepare a responsibility report for a cost center and allocate indirect expenses to departments
  • Compute accounting rate of return and NPV and explain their uses

Course Outline and Schedule

Week 1   

Basic Accounting Principles review and quiz

Week 2

Accounting for Corporations

Long-Term Liabilities

Investments and International Operations

Week 3

Reporting the Statement of Cash Flows

Analysis of Financial Statements

Week 4

Managerial Accounting Concepts and Principles

MidTerm Exam

Week 5

Job Order Costing

Process Costing

Cost-Volume-Profit Analysis

Week 6

Master Budgets and Planning

Flexible Budgets and Standard Costs

Week 7

Performance Measurement and Responsibility Accounting

Week 8

Capital Budgeting and Managerial Decisions

Final Exam

Required Textbooks

The textbook for this course (Fundamental Accounting Principles, 22nd edition, by John Wild, ISBN: 978-0077862275) is provided as an e-text in the course for no additional charge.