Format

Instructional Methods and Materials

This course meets in person Mondays at 6:00 to 8:45 PM in bldg. 3 Room 441.  I

Teaching methods include:

Online lectures, videos, powerpoint presentations, guest speakers, recorded lesson segments and chapter summaries.

Course Description 

As a continuation of BUS101, this course focuses on accounting theory in relation to the specific needs of corporations and partnerships. Students will explore problems relating to assets and liabilities, payroll systems, methods of computing dividends, and corporate financial statements. 

Credit Hours: 3                                     Course Prerequisites: BUS101 

Course Professor

Philip E. Brown

Associate Professor, Faculty, 

Pbrown1@rcc.mass.edu

Mr. Brown provides educational instruction in business courses including management, finance, marketing, and accounting. 

Mr. Brown brings over 25 years’ experience in financial services and small business ownership.   Mr. Brown has held senior management positions at The Boston Company and OneUnited Bank, and senior lending positions at Mellon Bank, Aetna Bond Investors and GMAC Mortgage Corporation.  

As a small business owner, he operated the largest black-owned commercial laundry in New England, developed, owned, and managed residential real estate, and currently operates a consulting practice focusing on capital acquisition, business development and strategy for small businesses.  

Mr. Brown earned an MBA from Columbia Business School and a BS in Management from Fisk University.  He enjoys travel, gardening, live music and is an avid golfer. He is a long time Boston resident living in the Jamaica Plain neighborhood with his wife and their two adult sons.

Please join me at:

LinkedIn: linkedin.com/in/philipbrownprof

YouTube: Prof. Phil Explains Business @prof.philexplainsbusiness1631

Office Hours: Building 3 Rm 455E In Teams at Prof. Phil Office Hours

Learning Objectives

Upon Completion students will be able to:

• Account for Uncollectible Accounts Using the Balance Sheet and Income Statement Approaches 
• Describe and Demonstrate the Basic Inventory Valuation Methods and Their Cost Flow Assumptions 
• Calculate the Cost of Goods Sold and Ending Inventory Using the Perpetual Method 
• Explain and Apply Depreciation Methods to Allocate Capitalized Costs 
• Analyze, Journalize, and Report Current Liabilities 
• Prepare Journal Entries to Reflect the Life Cycle of Bonds 
• Describe the Attribute of a Corporation, Compare and Contrast Owner’s Equity Versus Retained Earnings 
• Describe How a Partnership Is Created, Share profit/loss and is Dissolved
• Prepare the Statement of Cash Flows Using the Indirect Method 
• Perform Financial Statement Analysis Using Financial Ratios