Accounting II Module Details

Course/Module Description:

This course is a review of concepts of how accounting is designed to help management make its most important financial decisions and assist organizations needs in order to run efficiently. It start by reviewing the principles that should guide accounting in order to serve the purpose for which accounting is designed as well as provide management accounting information in order to help managers in a decision making capacity towards control of its operations.

Course/Module Objectives:

The main objectives of the course are:

1. To provide an in-depth understanding of accounting for inventory, cash, receivables, fixed assets and current liabilities for a sole proprietorship
2. To expose students to partnerships and accounting for partnerships
3. To expose students to corporations and accounting for corporations
4. To introduce the Statement of Cash Flows
5. To enable students to identify and apply relevant costs for decision making purposes

Course/Module Learning Outcomes:

After completion of the course students are expected to be able:

1. To understand and deal with the accounting issue that arises when identical units of merchandise are acquired at different unit costs during the period
2. To understand the classification of receivables and the accounting of uncollectible receivables
3. To understand the accounting for fixed and intangible assets, current liabilities and payroll, as well as the accounting for partnerships and accounting for corporations
4. To prepare a Statement of Cash Flows and to apply production overheads and determine the break-even point of a product or group of products
5. To explain the budgetary process and prepare a cash budget