Principles Of Accounting II – acc291 (3 credits)

This course introduces accounting concepts in a business environment. Students learn to create and apply accounting documents in making better business decisions. Other topics include plant assets, liabilities, accounting for corporations, investments, statements of cash flows, financial statement analysis, time value of money, payroll accounting, and other significant liabilities.

This undergraduate-level course is 5 weeks. This course is available to take individually or as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Principle Assets

  • Compare tangible and intangible assets.
  • Identify the journal entries associated with acquisition, disposal, and sales of plant assets.
  • Distinguish between revenue and capital expenditures, and the entries associated with each.
  • Describe the impact of International Financial Reporting Standards ([IFRS)] on US financial reporting.
  • Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.


  • Differentiate among accounts payable, notes payable, and accrued expenses.
  • Calculate depreciation and amortization expenses using various methods.
  • Journalize the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.

Financial Statement Analysis

  • Prepare a statement of cash flows using both direct and indirect methods.
  • Apply ratio, vertical, and horizontal analyses to financial statements.


  • Examine the effects of unethical behavior and the Sarbanes-Oxley Act on financial statements.
  • Identify situations that might lead to unethical accounting practices.

Equity and Investments

  • Differentiate types of stocks issued by corporations.
  • Record treasury stock transactions.
  • Calculate stocks, dividends, and stock splits.
  • Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends.

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