MGT121 Accounting Principles II

Applies the basic accounting principles as they relate to a merchandising concern. Guides students in the understanding of the generally accepted accounting principles (GAAP) as they apply to inventory valuation, accounts receivable, plant assets, and accounts payable. Students will also learn the concepts and procedures of internal control, the computation of payroll, and the preparation of a bank reconciliation statement. Prerequisite: MGT120. 4 quarter hours