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LSC Accounting II (Online Course Blackboard)

1st Edition
0073338915 · 9780073338910
This course focuses on corporate accounting. The course discusses how corporations are structured and formed, with an emphasis on corporate characteristics. Stocks, bonds, notes, purchase investments, and analysis of financial statements are included… Read More
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Topic 1 Accounting for Corporations

Forming a Corporation

Types of Stock and Dividends

Recording Stock Transactions

Reporting Earnings and Equity

Topic 2 Accounting for Corporate Bonds

Types of Bonds and Accounting for Dividends

Issuance of Bonds

Bond Retirement

Notes Payable as a Financing Option

Topic 3 Corporate Investments

Types and Class of Investments

Accounting for Non-influential Investments

Influential Investments

Topic 4 Corporate Financial Statement Analysis

Analysis Overview

Vertical Analysis

Horizontal Analysis

Ratio Analysis

Topic 5 Statement of Cash Flows

Purpose and Importance of Statement of Cash Flows

Cash Flows from Operations

Cash Flows from Investments

Cash Flows from Financing

Topic 6 Managerial Accounting

Purpose and Nature of Managerial Accounting

Managerial Costs Concepts

Profit and Cost Centers

Departmental Operations and Income Statements

Topic 7 Manufacturing Accounting

Cost of Goods Manufactured Statement

Manufacturing Income Statement

Balance Sheet for Manufacturing Company

Manufacturing Business's Accounting Cycle

Topic 8 Job Order Accounting

Cost Accounting System

Job Order Manufacturing and Cost Accounting System

Job Order Cost Reports

Adjustment of Overhead in a Cost Accounting System

Topic 9 Process Cost Accounting

Process Cost Accounting System

Process Operations

Accounting for Job Orders

Equivalent Units of Production

Topic 10 Cost Allocation

Allocating Overhead Costs

Departmental Accounting with Cost Allocation

Allocating Indirect Expenses

Responsibility Accounting

Topic 11 Cost Analysis

Cost Behaviors

Measuring Cost Behaviors

Break-Even Analysis

Cost-Revenue Analysis

Cost-Volume-Profit Analysis

Topic 12 Master Budgets

Budgeting Process

Administrative Procedures Regarding Budgets

Master Budgets

Topic 13 Flexible Budgets and Standard Costs

Cost Behaviors in the Budgeting Process

Fixed Budget

Standard Costs

Standard Costs as a Management Tool

Flexible Budgets

Topic 14 Capital Budgets and Managerial Decisions

Capital Budgeting Without Accounting for Time Value of Money

Capital Budgeting Factoring in the Time Value of Money

Managerial Decision Making

Topic 15 Review

This course focuses on corporate accounting. The course discusses how corporations are structured and formed, with an emphasis on corporate characteristics. Stocks, bonds, notes, purchase investments, and analysis of financial statements are included, as well as an in-depth look at managerial accounting. Statements of cash flow, budgets, and budget management are also examined. After completing this course, students will be able to:

- Demonstrate knowledge of the accounting techniques used in corporations, including accounting for stock transactions.

- Discuss the various types of corporate investments, differentiating between influential and non-influential investments.

- Apply the tools of financial analysis to perform horizontal and vertical analysis.

- Calculate and interpret various financial ratios.

- Demonstrate knowledge of, and ability to prepare, a statement of cash flows.

- Define managerial accounting and understand the techniques used in cost accounting.

- Demonstrate the ability to prepare financial statements for a manufacturing company.
- Demonstrate knowledge of process cost accounting systems, including the use of equivalent units of production.

- Utilize various allocation methods to allocate overhead and indirect costs.

- Compute break-even and cost-revenue analysis values and understand how to interpret the results.

- Define a master budget and how it is used in a business.

- Discuss a flexible budget and the role of standard costs in the budgeting process.

- Describe a capital budget and discuss the role of the time value of money in the budgeting process.