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Principles of Accounting II

Course Description:

Accounting II expands on what the student learns in Accounting I. It is focused on


corporate accounting. This course discusses how corporations are structured and
formed, with an emphasis on corporate characteristics. Stocks, bonds, notes, purchase
investments and analysis of financial statements are included, as well as an in-depth
look at managerial accounting. Statements of cash flow, budgets, and budget
management are also examined.

Course Objectives

Demonstrate knowledge of the accounting techniques used in


corporations, including accounting for stock transactions.
Discuss the various types of corporate investments, differentiating
between influential and non-influential investments.
Apply the tools of financial analysis to perform horizontal and vertical
analysis.
Calculate and interpret various financial ratios.
Demonstrate knowledge of, and ability to prepare, a statement of cash
flows.
Define managerial accounting and understand the techniques used in cost
accounting.
Demonstrate the ability to prepare financial statements for a
manufacturing company.
Demonstrate knowledge of process cost accounting systems, including
the use of equivalent units of production.
Utilize various allocation methods to allocate overhead and indirect costs.
Compute break-even and cost-revenue analysis values and understand
how to interpret the results.
Define a master budget and how it is used in a business.
Discuss a flexible budget and the role of standard costs in the budgeting
process.
Describe a capital budget and discuss the role of the time value of money
in the budgeting process.

Course Resources
Required Text

Wild, J. J., Shaw, K. W., & Chiappetta, B. (2015). Fundamental Accounting Principles
(22nd ed.). Boston: McGraw-Hill/Irwin.

ISBN: 9780077862275

Grading Policy

A course grade is determined based on the percentage of points as designated in the


following chart.

Assessment Percent of Final Grade


Discussions 30%
Assignments 50%
Midterm Exam 10%
Final Final 20%

Below is an at-a-glance look at the weekly discussion and assignment topics. In each
Getting Started module within the course, you will find details about your weekly
readings, lectures, supplemental resources, discussions and assignment instructions,
and rubrics

TOPICAL OUTLINE BY WEEK


Week 1: Accounting for Corporations and Corporate Brands

Reading: Textbook, Chapters 13 and 14


Lecture 1 Week One Overview
Lecture 2 Accounting for Corporations
Lecture 3 Long-Term Liabilities

Discussion: Please respond to BOTH of the following questions:

Question A

What is your current knowledge level of this course topic and what do
you hope to learn before the course is over?

Question B

Why would an investor find convertible preferred stock attractive?


Provide and discuss two specific reasons why a company might issue
preferred stock

Assignment:
Complete Problem 13-5A

Week 2: Investments, International Operations, and Financial Statements

Reading: Textbook, Chapters 15 and 17


Lecture 1: Week Two Overview
Lecture 2: Investments and International
Operations
Lecture 3: Analysis of Financial Statements

Discussion: Please respond to BOTH of the following questions:

Question A

What three factors would influence your evaluation as to whether a


company's current ratio is good or bad?

Question B

Go to Yahoo! Finance http://finance.yahoo.com Get a quote for a


publicly traded company. Once you get the stock quote, locate the current ratio
of the company. Provide an analysis of the ratio to the class and discuss
whether or not the ratio of the company you selected is good or bad and why.

Assignment: Complete Problem 15-3A

Week 3: Statement of Cash Flows and Managerial Reporting

Reading:
Textbook, Chapters 16 and 18
Review Lecture 1 Week Three Overview
Review Slideshow Lecture 2 "Reporting the Statement of Cash Flows"
Review Slideshow Lecture 3 "Managerial Accounting Concepts and
Principles"

Discussion: Please respond to BOTH of the following questions:

Question A

Should we evaluate a manager's performance on the basis of


controllable or non-controllable costs? Why?

Question B

Is it ethical for a manager that is responsible for overseeing a sales


department whose compensation is based on the level of sales to be involved
in the preparation of the sales reports? Why or why not? What internal controls
should be in place in this situation to avoid fraud from occurring?

Assignment: Complete Problem 18-1A

Week 4: Manufacturing Accounting and Job Order Accounting

Reading: Textbook, Chapter 19


Review Lecture 1 Week Four Overview"
Review Slideshow Lecture 2 "Job Order Costing"
Discussion: Please respond to BOTH of the following questions:

Question A

The assigned reading used a percent of labor costs to assign


factory overhead to jobs. Identify another factor (or base) a company
might reasonably use to assign overhead cost.

Question B

What is the difference between overhead costs being


underapplied vs. overapplied? Please provide an example of each.

Assignment: Complete Problems 19-1, 19-2, 19-8, 19-9, 19-10

Complete Midterm Exam

Week 5: Other Types of Fraudulent Activity Within an Organization

Reading:
Textbook, Chapter 20
Review Lecture 1 Week Five Overview"
Review Slideshow Lecture 2 "Process Cost Accounting"

Discussion: Please respond to BOTH of the following questions:

Question A

Can services be delivered by means of process operations? Support


your answer with an example.

Question B

What are the differences between process operations and job order
operations?

Assignment: Complete Problem 20-1A

Week 6: Cost Analysis and Master Budget

Reading:
Textbook, Chapters 21 and 22
Review Lecture 1 Week Six Overview
Review Slideshow Lecture 2 "Cost Volume Profit Analysis"
Review Slideshow Lecture 3 "Master Budgets and Planning"

Discussion: Please respond to BOTH of the following questions:

Question A

Identify at least three roles that budgeting plays in helping managers


control and monitor a business. Provide an example for each role.

Question B

What is the role of a responsibility center in budgeting/as a control?

Assignment: Complete Problem 21-1B

Week 7: Flexible Budgets, Standard Costs, Capital Budgets, and Managerial


Decisions

Reading:
Read Chapters 23 and 25 in textbook
Review Lecture 1 Week Seven Overview
Review Slideshow Lecture 2 "Flexible Budgets and Standard Costs"
Review Slideshow Lecture 3 "Capital Budgeting and Managerial
Decisions"

Discussion: Please respond to BOTH of the following questions:

Question A

Explain one reason why capital budgeting decisions by managers are


risky.

Question B

How should managers effectively include risk in the analysis of capital


budgeting decisions?

Assignment: Complete Problem 25-2A

Week 8: Review and Reflect


Reading:
Review previous reading material
Review Lecture 1 Week Eight Overview

Discussion:
Review and reflect on what you learned in the past 8 weeks.
What is the most practical and easily applied lesson you learned?
What was the hardest to grasp? Why?

Final Project: Complete Final Exam

The following table outlines the academic effort required by students to be successful in
this course. While the times in the table are approximate, it is presented to help
students with their time management. Please note, depending on the student's
background knowledge and experience of the course subject and an individual student's
academic capabilities, these times will vary. If you have any questions or concerns,
please direct them to your instructor or student advisor.

Estimated Hours
Week Type of Activity Activity
Required
Readings/Lectures 4.0

Online Discussions 3.0

Assignments 0.0

1 Readings 4.3

Discussions 2.0
Preparation
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
2 Readings/Lectures 5.8

Online Discussions 3.0

Assignments 0.0

Preparation Readings 3.7

Discussions 2.0
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
Readings/Lectures 5.5

Online Discussions 3.0

Assignments 0.0

3 Readings 4.3

Discussions 2.0
Preparation
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
Readings/Lectures 3.3

Online Discussions 3.0

Assignments 2.0

4 Readings 3.7

Discussions 2.0
Preparation
Assignments 7.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
5 Readings/Lectures 6.0

Online Discussions 3.0

Assignments 0.0

Preparation Readings 2.0

Discussions 2.0
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
Readings/Lectures 5.4

Online Discussions 3.0

Assignments 0.0

6 Readings 3.9

Discussions 2.0
Preparation
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity
Required
Readings/Lectures 5.9

Online Discussions 3.0

Assignments 0.0

7 Readings 4.0

Discussions 2.0
Preparation
Assignments 4.0

Clinical/Lab Hours 0.0

Estimated Hours
Week Type of Activity Activity Required
8 Readings/Lectures 0.4

Online Discussions 3.0

Assignments 2.0

Preparation Readings 0.0

Discussions 2.0
Assignments 7.0

Clinical/Lab Hours 0.0

Placeholder Text for University-Specific Academic Policies Link Here