AC202 Principles of Accounting II

for F1T 2005

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AC202 – Principles of Accounting II


Instructor:  Bruce C. Van Apeldoorn Sr.


Park University Vision

Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Park University Mission

The mission of Park University, a entrepreneurial institution of learning, is to provide access to academic excellence which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.


An introduction to financial accounting, including the concepts, procedures and terminology of modern accounting.  Generally accepted accounting principles will be discussed and applied to various business concerns.


This is not a bookkeeping course.  The student is expected to learn not only how to record financial transactions, but why they are recorded.  It will focus on the principles of financial accoutning rather than the the bookkeeping function.  Accounting is said to be the "language of business". It has its own terms and understanding these will be one of the biggest challenges to the beginning accounting student.  As with any language, mastery comes with using the new words and terms.  Raise questions and express yourself in class as often as possible.

Topics to be covered:

1.  Accounting Model

2. Accounting Cycle

3. Accoutning for Merchandising Concerns

4. Internal controls

5. Classsification of the Accounts

6. Generally Accepted Accoutning Principles


1. Explain the importance of accounting to business organizations and ethics in accounting.

2. Explain accounting in the information age and how financial statements are used by businesses.  Apply transaction analysis to the accounting equations.

3. Explain the concept of double entry accounting, postings, ledgers and trial balances. Interpert and record transactions.

4. Evaluate the closing process, including procedures and the use of a post closing trial balance.  Develop worksheets to aid in preparing finanacial statements.

5. Account for merchandising activities, including purchases, sales transactions and adjustments.

6. Understand the methods used for accounting for inventory.  Analyze the effects of inventory on both financial and tax reporting.

7. Review the concepts of an accounting information system.  Explain the fundamental systems principles, the systems components, use of special journals and subsidiary ledgers.

8. Explain the concepts of internal control and the analysis of cash.

9. Explain the concept of receivables and how they are considered liquid assets.  Describe the reproting for them and the reporting of the uncollectible amounts.

10. Explain and develop the accounting for long term assets and intangible assets.  Allocate the cost of the asset to the periods benefitting from the asset.

11. Understand how to identify, compute, record and report current liabilities in the financial statments.

Course Objectives

1.          Prepare financial statements for a corporation.

2.          Prepare manufacturing statements and process cost summaries.

3.          Prepare budgets.

4.          Compute financial ratios and analyze corporation financial statements.

5.          Compile and interpret statements of cash flows.

6.          Compute and record corporate dividends declared by the Board of Directors.


The text is a standard text used in numerous universites and treats the topic of introductory accounting in great detail. A knowledge of excel is helpful, but is not required for this course.

Course-Specific Policies:

A class week is defined as the period of time between Monday and Sunday at 12 PM CST. You may contact me through the discussion area or by email at Park.  I will try to respond quickly, usually within 48 hours. Course work that is to be turned in must be submitted  within the specified time.

Student should use Email for private messages to the instructor and other students.  The discussion area is for public messages and is viewable by all members of the class.

Students are responsible for clicking on the link below and thoroughly reading each Online course policy.  If you have questions about any of these policies, please contact your instructor for clarification.

Academic Honesty

Academic integrity is the foundation of the academic community.  Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. 


Academic dishonesty includes committing or the attempt to commit cheating, plagiarism, falsifying academic records, and other acts intentionally designed to provide unfair advantage to the students.

  • Cheating includes, but is not limited to, intentionally giving or receiving unauthorized aid or notes on examinations, papers, laboratory reports, exercises, projects, or class assignments which are intended to be individually completed.  Cheating also includes the unauthorized copying of tests or any other deceit or fraud related to the student's academic conduct.
  • Plagiarism involves the use of quotation without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignments (any portion of such) prepared by another person, or incorrect paraphrasing.
  • Falsifying academic records includes, but is not limited to, altering grades or other academic records.
  • Other acts that constitute academic dishonesty include:
    • Stealing, manipulating, or interfering with an academic work of another student or faculty member.
    • Collusion with other students on work to be completed by one student.
    • Lying to or deceiving a faculty member.


In the event of alleged academic dishonesty, an Academic Dishonesty Incident Report will be submitted to an Online Academic Director who will then investigate the charge.  Students who engage in academic dishonesty are subject to a range of disciplinary actions, from a failing grade on the assignment or activity in question to expulsion from Park University.  Park University's academic honesty policy and related procedures can be found in full in the 2004-2005 Park University Undergraduate and Graduate Catalogs.

Professors are required to keep attendance records and report absences throughout the term. Excused absences can be granted by the instructor for medical reasons, school sponsored activities, and employment-related demands including temporary duty. The student is responsible for completing all missed work.  Any student failing to attend class for two consecutive weeks, without an approved excuse from their instructor, will be administratively withdrawn and notified via email that you have been withdrawn and a grade of "WH" will be recorded.

An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term.  PLEASE NOTE:  Recording of attendance is not equivalent to participation.  Participation grades will be assigned by each individual instructor according to the criteria in the Grading Policy section of the syllabus.

For more details on Park University on page 100 of the Park University Undergraduate Catalog or page 14 of the Park University Graduate Catalog.