ACC363 Financial Accounting II

Principal Assets

• Prepare journal entries to account for transactions related to accounts receivable and bad debt using both the percentage of sales and the percentage of receivables methods.
• Identify the entries associated with the acquisition, disposal, and sales of plant assets.
• Calculate depreciation and amortization expense using various methods.

Liabilities

• Differentiate between accounts payable, notes payable, and accrued expenses.
• Calculate payroll.
• Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.

Equity and Investments

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

Financial Statement Analysis

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

Ethics

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