ACC-2020 Intermediate Accounting II

Credits 3
This course involves a continued comprehensive study of financial accounting theory and the conceptual framework. The course further provides an in-depth review of financial statement preparation with an emphasis on disclosure. Topics include liabilities, stockholders’ equity, investments, accounting for income taxes, leases, employee compensation and benefits, earnings per share, and statement of cashflows..

Capstone course for the Accounting Professional AAS degree. Students in this program must complete a minimum of 45 credits prior to enrolling in this course.
Prerequisite(s): ACC-2010 with grade of C or higher.
Capstone Course(s): In addition to completing the prerequisite course, students must complete a minimum of 47 credits, prior to enrolling in this course. A GPA of 2.0 or higher is required.
(Classroom or Online classes offered in the Spring only.)

Course Outcomes

Construct accounting entries for investments.
Apply accounting theory to liabilities.
Define the underlying characteristics of debt instruments (bonds).
Compare/contrast the operational, financial, and tax objectives that motivate leasing.
Examine the types of temporary differences that cause deferred tax liabilities.
Compare/contrast a defined contribution pension plan, a defined benefit pensions plan, vested benefit obligation, accumulated benefit obligation and projected benefit obligation.
Record transactions related to stockholders’ equity and long-term liabilities.
Define share-based compensation and earnings per share.
Prepare statements of Cash Flows.