BE 6613: Advanced Accounting

Unit

Understanding Accounting Concepts for Inventory

Analyzing Notes/Accounts Payable and Receivable 

Exploring Specialized Accounting Systems

Implementing Accounting for a Partnership

Implementing Accounting for a Corporation 

Analyzing Financial Data

Understanding Business Ethics

Enhancing Ca0reer Exploration and Employability Skills

Focus

We begin this course by examining the importance of having a merchandise inventory system and the process for managing the inventory.

Next, we learn how to manage receivables and payables by examining bad debts, adjustments for interest expenses, and write-offs.

Then, we examine how to account for property, plant, equipment, and intangible assets by learning how to calculate depreciation and amortization.  

We develop a deeper understanding of the characteristics and formation of a partnership including capital investments, bonuses, and the liquidation process.

Continuing with the formation of a business, we learn about the advantages and disadvantages of forming a corporation and the accounting practices associated with stocks and bonds. 

Next, using financial statements we calculate and analyze a variety of ratios such as liquidity ratios and profitability ratios before making decisions that will impact the business.

Understanding how policies and procedures are implemented to establish corporate governance and to guard against fraud, bribery, and discrimination ensures ethical business decisions are made.

In our final unit, we assess our skills to determine how they connect to career opportunities in the accounting field. Using the skills we have learned, we take the Microsoft Excel Expert and the QuickBooks industry credential exam.

Transfer Goals

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 

• Empower us to be successful citizens, workers, and leaders in a global economy. 

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 

• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.

• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.

• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations.

• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 
• Empower us to be successful citizens, workers, and leaders in a global economy.

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 

• Empower us to be successful citizens, workers, and leaders in a global economy. 

• Bridge academic, employability, and technical skills to prepare us for emerging occupations. 

• Empower us to be successful citizens, workers, and leaders in a global economy.
• Explore and pursue industry credentials through the integration of content and work-based learning (WBL). 

Unit Learning Targets

• Journalize by analyzing and recording business transactions into a journal.
• Recording transactions for goods sold.
• Establish an inventory tracking system. 

• Prepare an aging of Accounts Receivable.
• Use the income statement approach and the balance sheet approach to estimate the amount of Bad Debts Expense. 

• Calculate the cost of an asset.
• Calculate depreciation using one of three methods: straight line, double declining balance, and units or production. 
• Explain amortization and how it applies to intangible assets. 

• Journalize the entry for formation of a partnership.
• Calculate a partner’s share of net income based fractional ratio, beginning capital investments, and salary and interest allowances. 

• Define a corporation; establish a corporation; list advantages and disadvantages of a corporation. 
• Journalize entries for issuing par value stock, no-par stock, and no-par with stated value stock.
• Journalize the recording of bonds as well as interest payments. 

• Prepare comparative balance sheets.
• Calculate liquidity ratio, asset management ratio, debt management ratio, and profitability ratio. 

• Examine the process to establish corporate governance. 
• Define business ethics.
• Define fraud, bribery, and discrimination.

• Compare and contrast career opportunities in the accounting field. 
• Demonstrate technical skills in Microsoft Excel Expert and QuickBooks by taking the industry credential exam.