ACC 301 - Intermediate Accounting I (3)

Intermediate accounting is a two-course sequence. These courses reinforce the what and how of financial accounting gained at the principles level while exploring the why of how US GAAP works and its similarities and differences with IFRS. Students will deepen their understanding of financial accounting through an in‑depth study of the conceptual framework and accounting standards, each financial statement, cash, receivables, inventory, PP&E, intangibles, current and long-term liabilities (especially bonds), stockholders’ equity, investments, revenue recognition, leases, accounting for taxes, accounting changes and errors, and full disclosure. Emphasis is also placed on ethics in accounting and professional development. Current professional pronouncements and literature are considered.

Prerequisite(s): ACC202, Students may be considered for ACC301 after completion of ACC201 pending professor approval.
Grading Method: Letter Grade
Term Typically Offered: Fall