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ACC 112 Accounting II

This course builds on the principles of financial accounting and introduces students to managerial accounting. Students will study business transactions related to partnerships, corporations, financial statement analysis, and managerial techniques.

Credits

3

Prerequisite

Prerequisite: ACC 101 and (CIS 107 or OAT 152 or DAT 101 or concurrent)

See Course Syllabus

Course Number and Title:

ACC 112 Accounting II

Campus Location

  • Dover
  • Georgetown
  • Wilmington

Effective Date

202451

Prerequisites

Prerequisite: ACC 101 and (CIS 107 or OAT 152 or DAT 101 or concurrent)

Course Credits and Hours

3 credit(s)

3 lecture hours/week

1 lab hours/week

Course Description

This course builds on the principles of financial accounting and introduces students to managerial accounting. Students will study business transactions related to partnerships, corporations, financial statement analysis, and managerial techniques.

Additional Materials

None

Required Text(s)

Obtain current textbook information by viewing the campus bookstore - https://www.dtcc.edu/bookstores online or visit a campus bookstore. Check your course schedule for the course number and section.

Disclaimer

None

Core Course Performance Objectives (CCPOs)

  1. Evaluate basic business transactions relating to a partnership. (CCC 1, 2, 4, 5, 6; PGC ACT 1, 3, 4; BAT 1, 5; GBT 1, 5; HMT 6; MAN 1; MKT 1, 6)

  2. Evaluate basic business transactions relating to a corporation and stockholders’ equity. (CCC 1, 2, 4, 5, 6; PGC ACT 1, 3, 4; BAT 1, 5, 6; GBT 1, 5, 6; HMT 6; MAN 1, 5; MKT 1, 6)

  3. Prepare and analyze the statement of cash flows and basic financial statements. (CCC 1, 2, 4, 5, 6; PGC ACT 1, 4, 5; BAT 1, 2, 5; GBT 1, 2, 5; HMT 6, 7; MAN 1, 2; MKT 1, 2) 

  4. Prepare basic transactions relating to managerial accounting. (CCC 1, 2, 4, 5, 6; PGC ACT 1, 2, 3, 4, 5; BAT 1, 2, 3, 5, 6; GBT 1, 2, 5, 6; HMT 6, 7; MAN 1, 2, 5; MKT 1, 2, 6)

  5. Analyze accounting data to make managerial decisions. (CCC 2, 3, 4, 5, 6; PGC ACT 1, 2, 3, 4, 5; BAT 1, 2, 3, 5, 6; GBT 1, 2, 5, 6; HMT 4, 6, 7; MAN 1, 2, 5; MKT 1, 2, 6)

See Core Curriculum Competencies and Program Graduate Competencies at the end of the syllabus. CCPOs are linked to every competency they develop.

Measurable Performance Objectives (MPOs)

Upon completion of this course, the student will:

  1. Evaluate basic business transactions relating to a partnership.

    1. Describe the characteristics of the partnership form of a business organization. 

    2. Prepare journal entries for the formation of a partnership. 

    3. Determine the division of partnership net income under different situations. 

    4. Assess partnership financial statements and explain differences from those of other forms of organization. 

  2. Evaluate basic business transactions relating to a corporation and stockholders’ equity.

    1. Identify the major characteristics of corporations. 

    2. Describe the components of stockholders’ equity.

    3. Prepare basic journal entries for common, preferred stock, and treasury stock transactions. 

    4. Measure cash dividends, including allocation between preferred and common stockholders. 

    5. Compare and contrast the treatment of stock dividends and stock splits. 

    6. Describe the form and content of the statement of retained earnings. 

    7. Compute earnings per share and explain its significance. 

    8. Explain the differences among par value, book value, and market value. 

    9. Describe the characteristics of bonds and explain why bonds are issued. 

    10. Analyze stocks, bonds, installment notes as alternative financing methods. 

    11. Prepare journal entries to record basic bond transactions including amortization of bond discounts or premiums. 

  3. Prepare and analyze the statement of cash flows and basic financial statements.

    1. Identify the primary purpose of the statement of cash flows. 

    2. Distinguish among operating, investing, and financing activities. 

    3. Compute cash flow from operating activities using the direct method and the indirect method. 

    4. Prepare a statement of cash flows. 

    5. Explain the purpose of financial statement analysis. 

    6. Prepare a horizontal and vertical analysis and make comments on significant changes. 

    7. Compute and analyze ratios regarding a firm’s liquidity, efficiency, solvency, profitability, and market.

    8. Analyze financial reports of a publicly traded company. 

  4. Prepare basic transactions relating to managerial accounting.

    1. Explain the nature of managerial accounting. 

    2. Define product and period costs. 

    3. Explain flow of manufacturing costs. 

    4. Prepare  manufacturing statement, balance sheet, and income statements for manufacturing company.

    5. Compute cost of goods sold for manufacturer. 

  5. Analyze accounting data to make managerial decisions.

    1. Describe elements of manufacturing costs, cost accounting systems, and types of the cost behavior. 

    2. Explain job order cost sheets. 

    3. Apply job order costing in pricing services. 

    4. Describe and record flow of labor, materials, and overhead cost in job order costing. 

    5. Determine adjustments for over and under applied overhead. 

    6. Compute contribution margin and break-even points. 

    7. Describe the importance and benefits of budgeting and the process of budget administration. 

    8. Describe a master budget and the process of preparing it. 

Evaluation Criteria/Policies

The grade will be determined using the Delaware Tech grading system:

90-100 = A
80-89 = B
70-79 = C
0-69 = F
Students should refer to the Catalog/Student Handbook for information on the Academic Standing Policy, the Academic Integrity Policy, Student Rights and Responsibilities, and other policies relevant to their academic progress.

Final Course Grade

Calculated using the following weighted average

Evaluation Measure

Percentage of final grade

  • Exams (2-5) (Summative Assessments) (Equally weighted)

50%

  • Project/Serial Problems (1-2) (Summative Assessments) (Equally weighted)

20%

  • Formative Assessments (Assignments/Activities/Quizzes, etc.)

30%

TOTAL

100%

Program Graduate Competencies (PGCs are the competencies every graduate will develop specific to his or her major)

Accounting (ACT):

  1. Prepare and analyze financial statements in accordance with Generally Accepted Accounting Principles.
  2. Analyze data to process information for decision-making under a product and job costing system.
  3. Apply tax laws to the preparation of tax returns and to tax plans.
  4. Integrate professional, ethical and legal standards into business practice.
  5. Employ the various theories of management and marketing in a business.

General Business (GBT):

  1. Integrate professional, ethical and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Apply the principles of human resource management to organizations.
  4. Evaluate the actions taken to acquire and retain customers.
  5. Measure and track financial performance of an organization.
  6. Analyze and apply the strategic management process to organizations.

Management (MAN):

  1. Integrate professional, ethical and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Utilize management functions, roles, and interpersonal skills to lead/manage first-level employees regardless of organizational size.
  4. Apply the principles of human resource management to organizations.
  5. Analyze and apply the strategic management process to organizations.

Marketing (MKT):

  1. Integrate professional, ethical and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Develop integrated sales presentations.
  4. Utilize graphic design elements to develop professional hard-copy and electronic marketing/advertising materials.
  5. Apply e-Marketing techniques to create a competitive presence.
  6. Analyze the marketing strategic planning process of an organization.
  7. Evaluate the actions taken to acquire and retain customers.

Business Administration Transfer (BAT):

  1. Integrate professional, ethical, and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Analyze data to process information for decision-making under a product and job costing system.
  4. Evaluate the actions taken to acquire and retain customers.
  5. Measure and track financial performance of an organization.
  6. Analyze and apply the strategic management process to organizations.

Hospitality Management (HMT):

  1. Utilize management roles and interpersonal skills to lead/manage first level employees in a hospitality setting.
  2. Prepare food and beverage menus for a variety of hospitality requirements considering price, quality, and selection.
  3. Utilize knowledge of facilities management to aid in decision making.
  4. Perform cost calculations and apply to decision making situations pertaining to factors of production.
  5. Evaluate levels of food safety and sanitation to maintain a safe and sanitary work environment.
  6. Integrate professional, ethical and legal standards into business practice.
  7. Employ the various theories of management and marketing in a business.

Core Curriculum Competencies (CCCs are the competencies every graduate will develop)

  1. Apply clear and effective communication skills.
  2. Use critical thinking to solve problems.
  3. Collaborate to achieve a common goal.
  4. Demonstrate professional and ethical conduct.
  5. Use information literacy for effective vocational and/or academic research.
  6. Apply quantitative reasoning and/or scientific inquiry to solve practical problems.

Students in Need of Accommodations Due to a Disability

We value all individuals and provide an inclusive environment that fosters equity and student success. The College is committed to providing reasonable accommodations for students with disabilities. Students are encouraged to schedule an appointment with the campus Disabilities Support Counselor to request an accommodation needed due to a disability. The College's policy on accommodations for persons with disabilities can be found in the College's Guide to Requesting Academic Accommodations and/or Auxiliary Aids Students may also access the Guide and contact information for Disabilities Support Counselors through the Student Resources web page under Disabilities Support Services, or visit the campus Advising Center.

Minimum Technology Requirements

Minimum technology requirements for all distance education type courses.

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Tuition Adjustment Policy

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