A more in-depth study of accounting procedures and concepts. The course closely examines balance sheet accounts, such as accounts receivable, notes receivable and payable, inventory, property plant and equipment and long-term debt. Different structures of equity are examined through the study of partnership and corporate forms of business. Financial statement analysis and the statement of cash flows are introduced. General accounting principles are introduced and applications are discussed throughout the course.
Prerequisites
ACCT131L with a grade of C or better or Permission of Department Chair