NORMANDALE COMMUNITY COLLEGE                                                COMMON COURSE OUTLINE

ACCT 2252:  PRINCIPLES OF ACCOUNTING II

 I.         Effective Date: 

II.          Catalog Description:  Corporate structure, long term-liabilities, inter-company investments, statement of cash flows, job order and process costing systems, activity-based costing, cost-volume-profit analysis, budgeting, performance analysis using variances, and managerial decision making techniques.

III.         Recommended Skills:  ACCT 2251

IV.        Course Content:

Principles of Accounting is a required course for business and accounting majors.  This second course is an extension of ACCT 2251, Principles of Accounting I, and covers both financial and managerial accounting subjects. Financial accounting topics include corporate structure, long term liabilities, statement of cash flows and inter-company investments.  The second main subject area concerns managerial accounting.  Topics in managerial accounting include job order and process cost systems, activity-base costing, break-even analysis, budgeting, variances, and managerial decision making.

 V.        Outcomes:  Students should be able to:

A.         Develop the skill necessary to prepare essential corporate accounting reports.

B.         Acquire an understanding of managerial accounting concepts. 

C.         Understand and differentiate job order and process cost systems.

D.         Develop an insight into business profit planning methods and break even analysis.

E.         Be able to do performance analysis using variances.

F.         Be able to make managerial decisions based on accounting records 

             G.              Understand the use of present value tools for business investment.

VI.        Evaluation:  Methods of evaluation of student knowledge is in the form of basic testing methods including:  multiple choice, true false questions, problem solving and essay techniques.