Accounting II is an intermediate approach to manual accounting. This 90-hour course is designed to provide additional knowledge in common accounting systems including sales, purchases, taxes, inventory, and payroll. The concepts will be presented in the context of a merchandising business. Students will study payroll concepts and principles, tax responsibilities, and annual reporting. The learner will also be introduced to specialized journals, combined journals, year-end procedures and worksheets, HST/GST/PST, and merchandise inventory. Financial statements will be prepared in detail including a classified balance sheet and an income statement with a cost of goods sold section.
ABT 101, ABT 221 or equivalent.