This course aims to continue the use of bookkeeping procedures and introduce the students to advanced financial accounting and reporting procedures. Topics to be covered include Accounting for Property, Plant, Equipment and Intangible Assets; Examining and preparing the Statement of Cash Flows, Analyzing Financial Statements, Notes Receivable and Notes Payable, Accounting for Merchandise Inventory, Partnerships and Corporations, Bonds Payable, Voucher Systems, Departmental Accounting, Manufacturing Accounting and Budgeting. Students will begin to examine the differences in Management, Financial and Corporate Accounting. Students will learn to prepare a set of financial statements using the full range of software products found in the business environment, including formatting of proper note disclosures acceptable for publication according to generally accepted accounting principles. Students will explore and evaluate financial statements in the form of published annual reports and other reporting instruments with special emphasis on different industry-specific presentation styles. Students will learn how to prepare and compile different reports and establish budgeting and financial tracking procedures for projects, and departmental accounting. Students will be expected to use Simply Accounting, Microsoft Word and Microsoft Excel to apply the principles they are using on an ongoing basis.