This course is a continuation of Applied Accounting (ACC 1101). The primary accounting theory and principles are covered in depth. Generally accepted accounting principles, debits and credits, and journal entries are studied. Topics covered are: inventories, cash flows, financial statement analysis, short and long-term debt, accounts and notes receivable, long-term assets, partnerships, corporations, and manufacturing accounting. PREREQUISITE: ACC 1101 Applied Accounting or two years of high school accounting.

IAI Codes - Illinois Articulation Initiative (If applicable)