| Course ID: | ACCT 5000/7000. 3 hours. |
| Course Title: | Intermediate Accounting I |
Course
Description: | Accounting concepts, critical thinking skills, and techniques involved in the accounting process and the preparation of financial statements. Emphasis is on accounting for most assets. Financial statements from the perspective of both preparers and users, accounting standard-setting process, and economic consequences of accounting standards on a firm's stakeholders. |
| Oasis Title: | Intermediate Accounting I |
| Prerequisite: | ACCT 2102 or ACCT 2102H or ACCT 2102E |
Semester Course
Offered: | Offered every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | ACCT 5000 is the first of a series of three courses in intermediate accounting.
The content of this course focuses on 1) the economic and regulatory environment's
effect on accounting, 2) the conceptual framework underlying financial accounting,
3) the accounting information system, 4) the primary financial statements, 5) time
value of money, and 6) the measurement and reporting of working capital assets
(i.e., cash, receivables, and inventory). |
| Topical Outline: | 1. Foundations of Financial Reporting
2. A Review of the Accounting Cycle
3. The Balance Sheet and Notes to the Financial Statements
4. The Income Statement
5. The Statement of Cash Flows
6. The Revenue/Receivables/Cash Cycle
7. Complexities of Revenue Recognition
8. Cost of Goods Sold and Inventory: Identification and Valuation |