Mar 07, 2021  
2020-2021 Academic Catalog 
2020-2021 Academic Catalog
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ACC-2010 Intermediate Accounting I

Credits 3
This course involves a comprehensive study of financial accounting theory and conceptual framework. The course provides an in-depth review of financial statement preparation with an emphasis on disclosure. Topics include time value of money; cash; receivables; inventory valuation; acquisition, disposition, and depreciation methodologies of property, plant, equipment, and intangible assets; and revenue recognition.
Prerequisite(s): ACC-1002   (previously ACC-2002) with a C or higher
(Classroom or Online Sessions offered in the fall only. Not offered summer.)

Course Outcomes
  1. Apply accounting concepts, standards and principles.
  2. Apply time value of money concepts to relevant accounting topics.
  3. Create financial statements and other financial reports.
  4. Interpret financial ratios.
  5. Analyze financial statements and reports.
  6. Analyze financial data utilizing data analytics.
  7. Calculate valuation of tangible and intangible assets.
  8. Apply cost flow assumptions to inventory valuation.
  9. Determine the LIFO conformity rule, LIFO reserves, and LIFO liquidation.


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