Jun 24, 2024  
2023-2024 Schoolcraft Catalog 
    
2023-2024 Schoolcraft Catalog [ARCHIVED CATALOG]

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ACCT 202 - Principles of Accounting 2


Credits: 4
Lecture Contact Hours: 4
Description: This course is a continuation of Accounting 201, expanding your exposure to accounting principles, financial statements, methods and applications. In this course, you will focus on accounting for corporations, stockholder’s equity, liabilities and investments. You will prepare the statement of cash flows. You will analyze and interpret financial statements and other accounting information used in decision making. You will also explore managerial accounting and its applications in planning and controlling costs. This course will integrate a web-based learning system which requires the use of a computer to complete some of the learning activities and assessments. This course MAY also include the use of Microsoft Excel.

Prerequisites: ACCT 201 . CIS 120  
Corequisites: None.
Recommended: None.

Course Category: Occupational
This Course is Typically Offered: Winter, Spring, Fall
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Course Competencies
  1. Apply current accounting principles to stockholder’s equity.
  2. Apply current accounting principles to investments.
  3. Apply current accounting principles to long term liabilities.
  4. Prepare financial statements for a corporation.
  5. Prepare statement of cash flows.
  6. Evaluate the financial performance of a business.
  7. Apply basic management accounting methods to a manufacturing or services business.
  8. Apply proper accounting concepts to facilitate decision making.
  9. Explain the importance of ethics in accounting.
  10. Prepare a cost of goods manufactured report.
  11. Prepare process costing production reports.
  12. Analyze cost behaviors.
  13. Determine the breakeven point in units and sales dollars.
  14. Prepare budgets.



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