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.
Additional Requirements for Graduate Students: A project, paper, or other additional assessment as determined by the faculty member each semester.
Athena Title
Intermediate Accounting I
Prerequisite
ACCT 2102 or ACCT 2102H or ACCT 2102E
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Student learning Outcomes
Students will recognize the impact of the standard setting process and the conceptual framework on the reporting requirements of financial statements.
Students will identify the steps of the accounting cycle, explaining the purpose of adjusting journal entries and the impact of these entries in the financial statements.
Students will compare the accrual basis of accounting to the cash basis of accounting and demonstrate the ability to convert from one basis to the other.
Students will prepare financial statements from supporting schedules and information, while implementing the accounting standards discussed throughout the course.
Topical Outline
Financial Accounting and Accounting Standards
Conceptual Framework for Financial Reporting
The Accounting Information System
Income Statement and Statement of Stockholders’ Equity
Balance Sheet and Statement of Cash Flows
Accounting and the Time Value of Money
Cash and Receivables
Inventories
Institutional Competencies Learning Outcomes
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
