Maricopa Community Colleges  ACC112   19946-99999 
Official Course Description: MCCCD Approval: 04/26/94
ACC112 19946-99999 LEC 3 Credit(s) 3 Period(s)
Accounting Principles II
Continuation of the fundamental theory of accounting principles and procedures, including interpretation of general purpose financial statements. Prerequisites: ACC111 with a grade of "C" or better, or permission of department/division.
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MCCCD Official Course Competencies:
ACC112   19946-99999 Accounting Principles II
1. Describe transactions applicable to acquisition, depreciation, and disposal of plant and equipment. (I)
2. Record transactions applicable to the formation of partnerships, profit distribution, and liquidation of partnerships. (II)
3. Describe the corporate concept and record transactions for the issuance of stock and dividend distributions. (III)
4. Record transactions involving the purchase and sale of treasury stock. (III)
5. Journalize long-term debt transactions. (IV)
6. Describe accounting for short and long-term securities. (V)
7. Prepare consolidated statements. (V)
8. Prepare a statement of cash flows. (VI)
9. Analyze financial statements using ratios and other analytical tools. (VII)
10. Describe general tax concepts applicable to various forms of business organizations. (VIII)
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MCCCD Official Course Outline:
ACC112   19946-99999 Accounting Principles II
    I. Plant and Equipment
        A. Acquisition and disposal
        B. Tangible and intangible assets
        C. Depreciation, amortization, and depletion
      II. Partnership Organization and Operation
          A. Forming a partnership
          B. Allocating operating results
          C. Changing membership
          D. Dissolving a partnership
        III. Corporate Organization
            A. Stock characteristics
            B. Corporate income and retained earnings statements
            C. Special stock transactions
          IV. Long-Term Debt
              A. Bond characteristics
              B. Bond premium and discount
              C. Time value of money
              D. Other long-term debt
            V. Accounting for Intercompany Investments
                A. Investments in stock and bonds
                B. Consolidated methods
                C. Consolidated statements
              VI. Statement of Cash Flows
                  A. Classifications of cash flows
                  B. Operating activities
                    1. Direct method
                    2. Indirect method
                  C. Interpretation of cash flow statements
                VII. Financial Statement Analysis
                    A. Standards for financial analysis
                    B. Sources of information
                    C. Tools and techniques
                    D. Common ratios
                  VIII. Tax Concepts
                      A. Sole proprietorship
                      B. Partnership
                      C. Corporation
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