Course Description

Students continue the study of basic accounting principles and procedures from Principles of Financial Accounting I. Current assets and liabilities, property, plant and equipment, long-term liabilities, and differences among sole proprietorships, partnerships, and corporations are covered.

Learner Outcomes

Upon the successful completion of this course, students will be able to:

  • Calculate depreciation by several different methods
  • Understand the differences between sole proprietorships, partnerships, and corporations
  • Account for the issuance of bonds payable and calculate the amortization of any premiums or discounts
  • Prepare a statement of cash flows and understand the purpose of this financial statement
  • Calculate various financial ratios related to profitability and solvency of businesses and understand the purposes of the ratios calculated


Principles of Financial Accounting I, an equivalent course, or consent of instructor.


Completion of the UCSB PaCE Professional Accounting Certification Program does not result in CPA licensure.  While courses in this program may count toward the educational requirements for individual states' boards of accountancy, completion of this program will not, in itself, fulfill the education, professional experience, or examination requirements to qualify for CPA licensure. For more information about the requirements for the CPA Licensure, students should consult the State Board of Accountancy for the State or jurisdiction in which they are interested in practicing.
Classes are offered according to the schedule on the respective Certificate or Program Page. Please click on the Request Information below to be promptly notified when enrollment opens.