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Course Description

Schoolcraft is excited to offer traditional credit face-to-face, hybrid, online, and remote classes. We are committed to providing students a safe experience based on recent COVID-19 concerns.

Please see the COVID-19 web page to learn more. Keep checking the schedule for additions on our New, Added, and Late Starting Courses web page.

Accounting - ACCT 222

Intermediate Accounting 2

4 Credit Hours
4 Lecture Hours

Course Description

In this course you will learn the current accounting methods for liabilities, bond amortization, leases, pensions, income taxes, shareholders' equity and stock based compensation. You will prepare the statement of cash flows and statement of shareholders' equity. In addition, you will learn to allocate income tax expense and compute earnings per share information.


(A requirement that must be completed before taking this course.)

Course Competencies

Upon successful completion of the course, the student should be able to:

  • Demonstrate appropriate accounting treatment for current liabilities.
  • Demonstrate appropriate accounting treatment for long term liabilities.
  • Calculate effective interest method for bond amortization.
  • Demonstrate appropriate accounting treatment for leases.
  • Allocate income tax expense.
  • Apply current accounting principles for revenue recognition.
  • Apply current accounting principles to pension plans.
  • Apply current accounting principles to equity transactions.
  • Determine comprehensive income.
  • Prepare the Statement of Shareholders' Equity.
  • Demonstrate appropriate accounting treatment for share based compensation.
  • Compute primary earnings per share.
  • Compute diluted earnings per share.
  • Evaluate changes in accounting principles.
  • Correct accounting errors.
  • Prepare a Statement of Cash Flow.
  • Analyze financial activities of a company.

Course Schedule

 CourseSectionCourse TitleLocationCredit HoursInstructorsSeats Available ⁄Capacity ⁄WaitlistStatusFeeDays-Time-Room

Winter; 2022; ACCOUNTING; No of Weeks : 15; Begins : 01/10/2022

 222112519Intermediate ACCT 2MC4Randall M22/30/0Open$12.00T R  10:00 AM-11:54 AM HS720
 222112560Intermediate ACCT 2MC4Perpich E25/30/0Open$12.00M W  07:30 PM-09:24 PM HS820

Key: Day of the Week

  • T = Tuesday
  • R = Thursday
  • S = Saturday
  • X = Sunday