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This course has been changed from the previous catalog, the changed field(s) are highlighted in red:

 Course Title:   Practical Accounting II

 Title Abbreviation:   PRACTICAL ACCOUNTING II

 Department:    OFTEC

 Course #:    146

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    520302

 EPC:    547

 REV:    2013

 Course Description  

Continuation of OFTEC 145. Includes special journals, accounting cycle for merchandising businesses, notes receivable and payable, bad debts, merchandise inventory, and plant assets.


Prerequisite: OFTEC 145.

Additional Course Details

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Vocational Preparatory Required for ATA degree, Required for certificate  

Equivalencies At Other Institutions

Other Institution Equivalencies Table
Institution Course # Remarks

Learning Outcomes

After completing this course, the student will be able to:

  1. Maintain financial records for a merchandising business.
  2. Journalize business transactions in special and general journals and post them to a general ledger.
  3. Prepare a trial balance.
  4. Complete end-of-period accounting activities: worksheet, financial statements, adjusting and closing entries, and post-closing trial balance.
  5. Analyze and record business transactions related to merchandise inventory.
  6. Analyze and record business transactions related to uncollectible accounts receivable.
  7. Analyze and record business transactions related to notes payable and notes receivable.
  8. Analyze and record business transactions related to long-term assets and depreciation.

General Education Learning Values & Outcomes

Revised August 2008 and affects outlines for 2008 year 1 and later.

2. Critical Thinking

Definition: The ability to think critically about the nature of knowledge within a discipline and about the ways in which that knowledge is constructed and validated and to be sensitive to the ways these processes often vary among disciplines.

Outcomes: Students will be able to . . .
2.1 Identify and express concepts, terms, and facts related to a specific discipline.
2.3 Identify, interpret, and evaluate pertinent data and previous experience to reach conclusions.

8. Mathematical Reasoning

Definition: Understanding and applying concepts of mathematics and logical reasoning in a variety of contexts, both academic and non-academic.

Outcomes: Students will be able to . . .
8.2 Correctly apply logical reasoning and mathematical principles to solve problems.

Course Contents

  1. Analyzing business transactions for a merchandising business.
  2. Recording business transactions in special journals.
  3. Worksheets for a merchandising business.
  4. Completion of the accounting cycle for a merchandising company.
  5. Accounting for bad debts.
  6. Accounting for notes payable and notes receivable.
  7. Accounting for merchandise inventory.
  8. Accounting for long-term assets.