Accounting II covers five major segments of accounting. The first is a study of different groups of balance sheet accounts, including notes, accounts receivable, merchandise inventory, and plant assets. The second is an in-depth coverage of accruals and deferrals of both revenue and expenses. The third segment of the course moves into different forms of ownership, specifically, the partnership and the corporation. Following is a study of the statement of cash flows and the process of analyzing financial statements. The final part of the course studies a business in its segments, focusing on cost accounting systems and the analysis of costs.