|410-211-VA, Accounting II |
The student will summarize and use the financial data of a business to produce, evaluate and present results in accordance with GAAP. The student will apply the measurement and matching principle in the areas of capital assets, inventory valuation, debt/equity transactions, and short-term investments. Capital transactions relating to the ownership structure of the firm will include accounting for the equity transactions in a corporation as well as a partnership. The student will prepare financial statements for a corporation, including review of the notes to the financial statements.