Aug 05, 2020  
2019-2020 Course Catalog 
    
2019-2020 Course Catalog [ARCHIVED CATALOG]

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ACCT 2050 - Financial Accounting II

Credits: 4
Hours/Week: Lecture None Lab None
Course Description: This course provides an in-depth presentation of accounting for balance sheet accounts, financial statement preparation and analysis. This course expands on financial accounting topics such as inventory and financial statement analysis.
MnTC Goals
None

Prerequisite(s): ACCT 1010  or ACCT 2020  
Corequisite(s): None
Recommendation: None

Major Content
  1. Multi-Step Income Statements
  2. Classified Balance Sheets
  3. Statements of Cash Flows
  4. Cash and Receivables
  5. Inventories
  6. Current and Contingent Liabilities
  7. Investments in Debt and Equity Securities
  8. Long-term Debt
  9. Contributed Capital
  10. Financial Analysis
  11. Retained Earnings

Learning Outcomes
At the end of this course students will be able to:

  1. prepare multi-step income statements.
  2. account for cash and receivables.
  3. account for inventories.
  4. account for investments in debt and equity securities.
  5. account for current and contingent liabilities.
  6. account for long-term debt.
  7. account for contributed capital.
  8. account for retained earnings.
  9. perform numerous financial analyses.
  10. prepare classified balance sheets.
  11. prepare statements of cash flows.

Competency 1 (1-6)
None
Competency 2 (7-10)
None


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