MGMT 109 - Foundations in Financial Accounting Level 2

A continuation of MGMT 103 (Foundations in Financial Accounting Level 1) with a focus on the reporting and recording of liabilities.  This course introduces students to accounting practices for partnerships and corporations      


Credits: 3


Hours: 45 (Lecture Hours: 45)


MGMT 103 


Non-Course Prerequisites:




Course Content:
- Property, Plant & Equipment
- Current Liabilities
- Partnerships
- Organization and Operation of Corporations
- Corporate Reporting: Income, Earnings Per Share and Retained Earnings
- Bonds and Long-Term Notes Payable
- Accounting for Debt and Share Investments
- Reporting and Analyzing Cash Flows
- Analyzing Financial Statements


Learning Outcomes: The student will be able to apply basic accounting concepts to identify, analyze, record and report 
financial transactions according to generally accepted accounting principles.  Student should be able to:
- Account for property, plant and equipment at acquisition and disposal
- Calculate and record the amortization of property, plant and equipment
- Identify and account for current liabilities
- Complete entries for a partnership
- Describe the components of corporate financial statements
- Account for corporate shares
- Record cash dividends
- Prepare closing entries for a corporation
- Complete a comprehensive corporate income statement
- Account for share dividends, share splits and the retirement of shares
- Calculate earnings per share
- Prepare a statement of retained earnings
- Explain the guidelines for the treatment of accounting changes
- Account for bonds and long-term notes payable
- Identify and account for temporary investments, long-term debt investments and share investments 
- Record foreign exchange transactions
- Prepare a cash flow statement applying the direct and indirect methods
- Analyze financial statements using horizontal analysis, vertical analysis and ratio analysis methods


Grading System: Letter Grades


Passing Grade: D (50%)


Textbooks:Textbooks are subject to change.  Please contact the bookstore at your local campus for current book lists.