BA 121 Professional Accounting II
Provides an advanced study of accounting theory and practice for measurement of income and valuation of assets in financial statement presentation. Reviews accounting concepts and alternative approaches to various problems.
Prerequisite
Prerequisite:
BA 113 Practical Accounting III or
BA 211 Principles of Accounting: Financial and
BA 213 Principles of Accounting: Managerial with a C or better.
Offered
Offered Winter only
Notes
Career Technical Education (CTE) Course
Outcomes
Upon successful completion of this course, students will be able to:
Describe the measurement and accounting for accounts receivable, including establishing an allowance for uncollectible accounts. Describe the types of inventory and demonstrate accounting under periodic and perpetual inventory systems. Identify the types of property, plant and equipment and determine the initial measurement of each; apply the definition of an asset to the decision to expense or capitalize an expenditure. Describe and demonstrate the accounting for impairments of property, plant, and equipment and intangible assets with finite lives under U.S. GAAP. Describe and demonstrate accounting for operating liabilities, including accounts payable, trade notes payable, unearned revenues, gift cards, deposits, sales taxes payable, and compensated absences. Describe and illustrate accounting for notes payable and bond issues. Describe stockholder's equity and its main components.