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Intermediate Accounting 1 (ACCT 2230)
Total Credits:
4
Lecture Credits:
4.00
Description:
This course is an advanced study of accounting theory and concepts, including analysis and practical application of the influences on financial accounting by various policy-making boards and governmental agencies. You will use the theory and concepts to gain a deeper understanding of the financial statements, i.e. the income statement, balance sheet, statement of cash flows.
Topical Outline:
Learning Outcomes:
1. 1. Apply FASB's conceptual framework when providing guidance about appropriate recognition, measurement, and reporting
2. 2. Review and illustrate the steps in accounting cycle
3. 3. Describe and analyze the specific elements of a balance sheet, income statement, and statement of cash flows
4. 4. Illustrate income measurement, profitability analysis, and time value of money concepts
5. 5. Demonstrate accounting for cash, receivables, and inventory
6. 6. Create, calculate and assess financial transactions and statements such as journal entries, ratios, balance sheet, income statement, and the statement of cash flows
Prerequisites:
ACCT 2202.