ACCT2226

This course introduces students to a more in depth analysis of the generally accepted accounting principles. Emphasis will be on the accounting cycle, financial accounting assumptions, the financial statements, and the revenue/cash cycle. Additional focus on the preparation and analysis of business information relevant and useful to external users of financial reports. This also includes a study of the unique characteristics of various elements of the financial statements.Student Learning Outcomes

• Illustrate the basic steps in the accounting cycle.
• Prepare a properly classified balance sheet in accordance with generally accepted accounting principles.
• Prepare a single-step and a multi-step income statement in accordance with generally accepted accounting principles.
• Prepare a properly classified statement of cash flows using both the direct method and the indirect method in accordance with generally accepted accounting principles.
• Record revenue using various revenue recognition standards.
• Account for transactions and events within the revenue, receivable, and cash cycles of a business.
• Apply ratio analysis on financial information to determine the financial strength of a company.
• Apply ethical standards to accounting principles and procedures.