Intermediate Accounting I

Catalog description

This is the first professional-level accounting course. Students will gain a thorough foundation in the theory, principles, and practices of the accounting profession. It is designed to sharpen the students' ability to critically analyze accounting information, accounting theory development, and apply the theory in problem-solving situations. The course examines the following balance sheet accounts: cash, short-term investments, receivables, inventories, plant and equipment, and current liabilities. Conceptual problems included are inventory valuation, allocation of depreciation, and the time value of money. Requires use of Excel. Prerequisite: ACC 2002.