Financial Accounting II

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The following topics are covered in the workbook: Property, Plant, and Equipment and Intangibles; Current Liabilities; Partnerships; Organization and Operation of Corporations; Corporate Reporting: Profit, Earnings Per Share, and Retained Earnings; Bonds and Long-Term Notes Payable; Accounting for Debt and Share Investments; Reporting and Analyzing Cash flows; Analyzing Financial Statements.

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Learning Outcomes

  • Determine the cost of long-term assets and compute depreciation;
  • Define and record current liabilities including notes payable;
  • Account for long-term liabilities including the issuance, amortization and retirement of bonds;
  • Describe the nature and issuance of capital stock;
  • Compute earnings per share - both basic and fully diluted earnings per share;
  • Account for cash and stock dividends, and discuss stock splits;
  • Prepare a statement of retained earnings;
  • Describe and account for partnerships;
  • Develop and analyze cash flow statements for different users;
  • Prepare a statement of changes in financial position;
  • Explain the nature and purpose of independent audits of financial statements, and discuss the crucial role of professional judgment in the financial reporting process;
  • Describe and account for debt and share investments.

Course Materials