This is the second course in a two-part sequence. Building on Principles of Accounting I, it further develops issues related to accounting for assets and liabilities. Students learn the accounting meaning of equity and its significance to a business. They add to their knowledge of financial statements by learning how to analyze and interpret the information contained therein.

During this course I was able to reinforce the knowledge accumulated during Accounting I class through the very interesting project " A Computerized Business Simulation". I expanded my knowledge and understanding of the accounting process required by partnerships and corporations. We analyzed different types of stocks (common, prefered and  treasury stocks) and dividents (cash divident and stock divident) . I was introduced to procedures of completing the Retained Earnings Statement, the Income statemnst before and after taxes and Cash Flow Statement.