Mar 07, 2021
ACC-2010 Intermediate Accounting I
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.)
- Apply accounting concepts, standards and principles.
- Apply time value of money concepts to relevant accounting topics.
- Create financial statements and other financial reports.
- Interpret financial ratios.
- Analyze financial statements and reports.
- Analyze financial data utilizing data analytics.
- Calculate valuation of tangible and intangible assets.
- Apply cost flow assumptions to inventory valuation.
- Determine the LIFO conformity rule, LIFO reserves, and LIFO liquidation.
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