COMM 241 Financial Accounting II is the second financial accounting course, reviewing and enlarging upon concepts and principles, their application to and effect upon financial statements. Topics include: capital and intangible assets, current and long-term liabilities, partnership accounting, accounting for corporate transactions, notes and bonds payable, the cash flow statement, and financial statement analysis.
Prerequisites: COMM 240 and ADMN 170 or equivalent with a minimum of 60%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
|---|
| Total Credits | |
|---|
| Total Hours | 60 |
|---|
Typical hours per week breakdown| Lecture | 4 |
|---|
Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- 1. Account for:
a. capital assets including purchases, sales and depreciation
b. current liabilities;
c. partnerships, including formation and liquidation of a partnership, allocating income or loss among partners, withdrawal or admission of a partner;
d. corporations, especially the shareholder’s equity section of the balance sheet as it relates to reporting shares and dividends and calculating and reporting earnings per share;
e. bonds and long-term notes payable, including determining and recording issuing and retiring bonds; and
f. various investments
- Prepare the journal entries for all of the items in #1
- Prepare cash flow statements using both the indirect and direct methods
- Compute and analyze financial statement ratios.
Grading Table
Standard Academic and Career Programs Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.