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Course Code: BACC401
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Credits: 3
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Hours Distribution: 3 Lec
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Course Type: Major Requirements (Major R)
Course Description
This course deals with transactions, financial statements, and problems peculiar to the operations of partnership and corporations as distinguished from sole proprietorships. Topics include: partnership formation and operations including accounting for the admission of partners, changes in capital, and profit-and loss sharing ratios, the conversion of an unincorporated enterprise into a corporation; accounting for incorporated enterprises, including the preparation of financial statements for internal and external purposes; and sample financial statements of companies in the service, manufacturing and trading industries. Pre-req: BACC302-Intermediate Accounting II.