AC 232L - Principles of Accounting II Lab

1 Credit Hour

Prerequisite: ACL 231. Corequisite: AC 232. This lab course is designed to reinforce the basic accounting concepts and the understanding of the accounting cycle and financial statements as instructed in the Principles of Accounting I and Principles of Accounting II courses. The lab course is required to be taken in conjunction with AC 232, Principles of Accounting II. The goal(s) are to provide a clear understanding of the principles of accounting as it applies to the accounting cycle and preparation of financial statements. An understanding of the principles and concepts of financial statements and financial reporting in accordance with generally accepted accounting principles (GAAP) is emphasized. (FA, SP)