Dec 09, 2024  
2024-25 RCC Catalog 
    
2024-25 RCC Catalog
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BA 212 - Financial Accounting II


4 Credit(s)

Prerequisite(s):  

BA 211Z  

Course Description: Continues the study of financial accounting theory with more in-depth study of asset, liability, and equity accounting in accordance with generally accepted accounting principles (GAAP). Includes accounting for receivables; plant assets, natural resources, and intangibles; current and long-term liabilities; investments; payroll; stockholders’ equity; the preparation of the statement of cash flows; and financial statement analysis.

Course Learning Outcomes:

  • CLO#1: Use accounting terms; apply the rules of debit and credit; record transactions in the journal; post from the journal to the ledger; and prepare and use a trial balance. (ILO: Quantitative Literacy and Reasoning)
  • CLO#2: Design internal controls for receivables; use the allowance method to account for receivables; understand the direct write-off method for receivables; account for notes receivable and discount a notes receivable; report receivables on the balance sheet; and use the acid-test ratio and days’ sales in receivables to evaluate a company.
  • CLO#3: Measure the cost of a plant asset; account for depreciation; select the best depreciation method for tax purposes; account for the disposal of a plant asset; account for natural resources; and account for intangible assets.
  • CLO#4: Account for current liabilities of known amount; account for current liabilities that must be estimated; compute payroll amounts; record basic payroll transactions; use a payroll system; account for bonds payable; measure interest expense by the straight-line amortization method; account for retirement and conversion of bonds payable; report liabilities on the balance sheet; and apply the time value of money concepts for bond purchases.
  • CLO#5: Identify the characteristics of a corporation; record the issuance of stock; prepare the stockholders’ equity section of a corporation balance sheet; account for cash dividends; use different stock values in decision making; evaluate return on assets and return on stockholders’ equity; and account for the income tax of a corporation.
  • CLO#6: Account for stock dividends; distinguish stock splits from stock dividends; account for treasury stock; report restrictions on retained earnings; and analyze a corporate income statement.
  • CLO#7: Indicate the usefulness of the statement of cash flows; distinguish among operating, investing, and financing activities; prepare a statement of cash flows using the indirect and direct methods; and analyze the statement.
  • CLO#8: Discuss the need for and tools for comparative and financial statement analysis; explain and apply horizontal and vertical analysis; identify and compute ratios and describe their purpose and use in analyzing a firm’s liquidity, profitability, and solvency; and identify the limitations of statement analysis.
  • CLO#9: Examine and interpret ethical dilemmas in the field of accounting and make ethical business judgments based on codes of conduct, laws, and generally accepted accounting principles.

Typical Required and Recommended Equipment and Materials: Pens, #2 pencils, erasers, paper, and access to a computer for assignments. Microsoft® Excel access for homework templates. Calculator for use in class and assignments.

ACTI Code and Course Type
100 Lower Division Collegiate

Length of Course:
A required state minimum of (40) and a standard RCC delivery of (44) lecture hours per term, not to exceed (48) hours per term.



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