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Nov 24, 2024
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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
- Multi-Step Income Statements
- Classified Balance Sheets
- Statements of Cash Flows
- Cash and Receivables
- Inventories
- Current and Contingent Liabilities
- Investments in Debt and Equity Securities
- Long-term Debt
- Contributed Capital
- Financial Analysis
- Retained Earnings
Learning Outcomes At the end of this course students will be able to:
- prepare multi-step income statements.
- account for cash and receivables.
- account for inventories.
- account for investments in debt and equity securities.
- account for current and contingent liabilities.
- account for long-term debt.
- account for contributed capital.
- account for retained earnings.
- perform numerous financial analyses.
- prepare classified balance sheets.
- prepare statements of cash flows.
Competency 1 (1-6) None Competency 2 (7-10) None Courses and Registration
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