ACC-2020 Intermediate Accounting II

Credits 3
Intermediate Accounting II provides a comprehensive study of financial accounting theory and the underlying conceptual framework of Generally Accepted Accounting Principles (GAAP). Students learn more about 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.

Prerequisite(s): ACC-2010 with a grade of C or higher.

Capstone Course(s): This is the Capstone course for the Accounting Professional AAS degree. Students in this program must complete a minimum of 45 credit hours prior to enrolling in this course. Students in the Accounting Certificate program may enroll in ACC-2020 as a program elective once they have completed ACC-2010.
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 pension plan, a vested benefit obligation, an accumulated benefit obligation and a 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.