This course introduces the student to the principles and procedures needed to account for long-term assets (including capital assets, intangible assets, and investments), liabilities, and equities, and to the concepts of financial reporting and decision making for both partnerships and corporations. In this course the student will explore property, plant, equipment &intangibles; current and long-term liabilities; partnership accounting; corporate organization, transactions and reporting; bonds as liabilities and investments; equity investments; statement of cash flows; and analyzing financial statements. This course emphasizes the national accounting standards (private enterprise GAAP).
Prerequisite(s): AC1260