About this course
Our Principles of Accounting Level 2 course provides students with a solid understanding of a variety of accounting subjects that are uniquely applicable to managing business operations. Students will take a closer look at cash flow management and accounting for business financing provided through borrowing and equity-based capital. Organized budgeting processes are essential to successful business operations, and our curriculum will examine a comprehensive budgeting model as well as techniques for evaluating long-term capital budgeting decisions.
Principles of Accounting 2 Module 1
The Statement of Cash Flows
- How is Cash Flow to Be Monitored
- Operating Activities
- Investing Activities
- Cash Received From Customers
- Cash Paid for Inventory
- Alternative View of Operating Activities
- Investing Activities
- Using a Worksheet to Prepare the Statement
- Balance Sheet Account
- Comprehensive Example
Principles of Accounting 2 Module 2
Issues in Accounting for Corporate Debt and Equity
- Alternative Types of Capital Stock
- Accounting for Preferred Stock
- Long-Term Notes Payable
- Level Payment Notes
- Calculating the Amount of a Level Payment
- Bonds Payable
- Bond Pricing
- Accounting for Bonds Payable Issued at Par
- Accounting for Bonds Payable Issued at a Discount
- Bonds Issued Between Interest Dates
Principles of Accounting 2 Module 3
Introduction to Managerial Accounting
- The Professional Managerial Accountant
- Role of Management Accounting
- Planning Duties
- Directing/Controlling Duties
- Cost Components
- Manufacturing Overhead
- Distinguishing Between Variable and Fixed Variable Costs
- Types of Fixed Cots Relevant Range
- A Closer Look at Cost Accumulation
- Combining Schedules
Principles of Accounting 2 Module 4
Costing Methods
- Job Costing
- Materials Requisition
- Job Costing and the Ledger
- Differences Between Actual and Applied Overhead
- Mandatory Reporting for Overhead
- Process Costing Environments
- Cost of Production Report
- Case Study in Process Costing
- ABC Modeling
- ABC Example
Principles of Accounting 2 Module 5
Cost-Volume-Profit Analysis
- Mixed Costs
- Cost-Volume-Profit Analysis
- Contribution Margin
- The Algebra of Break-Even and Targeted Income Analysis
- Influence of Taxes
- Changing Revenues
- Multiple Products
- CVP Assumptions
- Comprehensive Income Statements Under Variable and Absorption Costing
- Evaluating Residual Income
Principles of Accounting 2 Module 6
Budgeting
- Purpose of Budgeting
- Benefits of Budgeting
- Responsibility Accounting
- Budges Drive Efficiency
- Budgeting Drawbacks
- Quality Estimates
- Production Budget
- Purchases and Payments for Materials
- Flexible Budgets
- Benefits of Technology in Budgeting
Principles of Accounting 2 Module 7
Standard Costs and Variances
- What are Standards
- Controlling Via Standards
- Establishing Standards
- General Variance Model
- Variances Relating to Direct Material
- Materials Price Variance
- Materials Quantity Variance
- Variances Relating to Direct Labor
- Variances Related to Factory Overhead
- Impact on the Ledger
Principles of Accounting 2 Module 8
Responsibility Concepts and Sound Decision-Making Analytics
- Responsibility Accounting Concepts
- Accumulation of Information to Match Centers
- Management by Exception
- Sunk Costs
- A General Framework for Making Sound Business Decisions
- Applying the General Framework to an Example: Bulk Orders
- Capital Expenditures
- Making Decisions About Long-Term Investments
- Net Present Value
- Internal Rate of Return
**Outlines are subject to change, as courses and materials are updated.**
