Michele Beltra » Accounting 1 & 2

Accounting 1 & 2

Accounting 1
This course focuses on the accounting cycle as well as a conceptual understanding of accounting principles that are generally accepted.  Accounting processes for both service and merchandising enterprises are studied in depth. Emphasis is placed on preparation of journal entries, adjusting entries, closing entries and the preparation of financial statements. Accounting for inventories, cash, internal control, receivables, plant assets, current liabilities, and payroll are covered. Ethical issues in accounting are also included.
Accounting 2
This course focuses on accounting applications for partnerships, corporations, and manufacturing operations. The first part of the course deals with topics such as long-term liabilities, bonds, equities and investments. These are followed by the statement of cash flows and analysis of financial statements. The final part of this course introduces managerial accounting and covers topics such as cost-volume profit analysis, job order costing and process costing. The preparation and use of financial information needed for management planning and decision making is emphasized. Students will learn how to prepare the Statement of Stockholders Equity, the Statement of Cash flows and the Cost of Goods Manufactured Statement.
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