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Record current and long term liabilities
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you distinguish between current and long term abilities
you compute and records employee payroll expenses and liabilities
you compute and record employer payroll deductions and liabilities
you describe when to account for contingent liabilities
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Record partnership ownership transactions
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you record the formation of a partnership
you calculate the distribution of net income to the partners
you record the admission of a new partner
you record the withdrawal of a partner
you record the liquidation of a partnership
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Record corporation ownership transactions
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you describe the characteristics of a corporation
you record the formation of a partnership
you define basic corporation equity terms
you record the issuance of common and preferred stock at par, in excess of par, and at a discount
you calculate the distribution of dividends to common and preferred stockholders
you define common dividend terms
you record cash and stock dividends
you define common dividend terms
you explain the purpose of a comprehensive income statement
you identify the items reported on the Statement of Retained Earnings
you compute book value per share
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Record bond and long-term notes payable transactions
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you explain the differences between bonds and stocks
you define basic bond terms
you record the issuance of bonds at par, at a premium, and at a discount
you calculate bond amortization using straight line and the effective interest method
you record the retirement of bonds
you record interest expense for installment notes assuming equal principal payments and equal payments
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Prepare a Statement of Cash Flows
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you differentiate between cash flows from operating, financing, and investing activities
you describe the format of the Statement of Cash Flows
you prepare a Statement of Cash Flows using the direct and indirect methods
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Analyze financial statements
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you describe the purpose of financial analysis
you calculate and interprets common ratios used in analysis
you prepare vertical and horizontal analysis
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Apply managerial accounting concepts and principles
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you describe the major characteristics of managerial accounting
you differentiate between the financial statements of manufacturing and merchandising companies
you classify costs
you compute and analyze unit contribution margin
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Prepare a Manufacturing Statement - job order costing
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you prepare a manufacturing statement and explains its purpose and links to financial statements
you record the flow of materials, labor and overhead costs
you record the adjustments for overapplied factory overhead
you apply multiple overhead allocation rates
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Prepare a Manufacturing Statement - process costing
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you differentiate between job order and process costing
you record the flow of direct materials, direct labor and overhead in process cost accounting
you compute equivalent units produced in a period
you prepare a process cost summary
you record the transfer of goods between departments
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Analyze costs using Cost-Volume-Profit analysis
Assessment Strategies
by satisfactorily completing and submitting all homework assignments when due
Criteria
you classify costs by their behavior
you compute break-even point for a single and multi-product company
you grab cost and revenues for a single product