Course Number and Title:
ACC 112 Accounting II
Campus Location
- Dover
- Georgetown
- Wilmington
Prerequisites
Prerequisite: ACC 101 and (BUS 107 or CIS 107 or OAT 152 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 managerial accounting. This course covers business transactions related to partnerships, corporations, financial statement analysis, and managerial techniques.
Additional Materials
None
Core Course Performance Objectives (CCPOs)
Evaluate basic business transactions relating to a partnership. (CCC 1,2, 4, 5, 6; PGC 1, 2, 3, 5)
Evaluate basic business transactions relating to a corporation and stockholders’ equity. (CCC 1, 2, 4, 5, 6; PGC 1, 2, 3, 5)
Prepare and analyze the statement of cash flows and basic financial statements. (CCC 1, 2, 4, 5, 6; PGC 1, 2, 3, 5)
Prepare basic transactions relating to managerial accounting. (CCC 1, 2, 4, 5, 6; PGC 1, 2, 3, 5)
Analyze accounting data to make managerial decisions. (CCC 2, 3, 4, 5, 6; PGC 1, 2, 3, 4, 5)
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:
- Examine basic business transactions relating to a partnership.
- Describe the characteristics of the partnership form of a business organization.
- Prepare journal entries for the formation of a partnership, withdrawal of a partner, and admittance of a new partner.
- Calculate the division of partnership net income according to the terms of a partnership agreement.
- Evaluate basic business transactions relating to a corporation and stockholders’ equity.
- Identify the major characteristics of corporations.
- Describe the components of stockholders’ equity.
- Prepare basic journal entries for common, preferred stock, and treasury stock transactions.
- Measure cash dividends, including allocation between preferred and common stockholders.
- Compare and contrast the treatment of stock dividends and stock splits.
- Describe the form and content of the statement of retained earnings.
- Compute earnings per share and explain its significance.
- Explain the differences among par value, book value, and market value.
- Describe the characteristics of bonds and explain why bonds are issued.
- Compare financing methods for corporations, including stocks, bonds, and installment notes.
- Prepare journal entries to record basic bond transactions including amortization of bond discounts.
- Prepare and analyze the statement of cash flows and basic financial statements.
- Identify the primary purpose of the statement of cash flows.
- Distinguish among operating, investing, and financing activities.
- Compute cash flow from operating activities using the indirect method.
- Compute cash flow from investing and financing activities.
- Compare and contrast the differences between the direct method and the indirect method for preparing the operating section of the statement of cash flows.
- Prepare a statement of cash flows.
- Explain the purpose of financial statement analysis.
- Prepare a horizontal and vertical analysis and interpret significant changes.
- Compute and analyze ratios regarding a firm’s liquidity, efficiency, solvency, profitability, and market.
- Analyze financial reports of a corporation.
- Prepare basic transactions relating to managerial accounting.
- Explain the nature of managerial accounting.
- Define product and period costs.
- Explain the flow of manufacturing costs.
- Prepare a manufacturing statement, balance sheet, and income statements for a manufacturing company.
- Compute the cost of goods sold for a manufacturer.
- Analyze accounting data to make managerial decisions.
- Describe elements of manufacturing costs, cost accounting systems, and types of cost behavior.
- Explain job order cost sheets.
- Apply job order costing in pricing services.
- Describe and record the flow of labor, materials, and overhead costs in job order costing.
- Determine adjustments for over and under-applied overhead.
- Compute contribution margin and break-even points.
- Describe the importance and benefits of budgeting and the process of budget administration.
- Prepare a master budget.
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 |
Summative Assessments |
- Exams (2-5) (Equally weighted)
| 50% |
- Project/Serial Problems (1-2) (Equally weighted)
| 20% |
Formative Assessments |
The course will contain various formative assessments including but not limited to: - Assignments
- Activities
- Quizzes
| 30% |
TOTAL | 100% |
Program Graduate Competencies (PGCs are the competencies every graduate will develop specific to his or her major)
- Integrate professional, ethical, and legal standards into business decision-making.
- Apply foundational business concepts that lead to strategic thinking and the ability to analyze complex problems.
- Use professional and technology-based skills that are relevant to the dynamic business environment.
- Employ effective communication skills and collaboration strategies to promote positive organizational outcomes.
- Apply skills necessary to analyze and interpret business and financial data for decision-making purposes.
Core Curriculum Competencies (CCCs are the competencies every graduate will develop)
- Apply clear and effective communication skills.
- Use critical thinking to solve problems.
- Collaborate to achieve a common goal.
- Demonstrate professional and ethical conduct.
- Use information literacy for effective vocational and/or academic research.
- 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.