ACC 201 : Intermediate Accounting I

A study of accounting using comprehensive problems that expand the treatment of cash, receivables, investments, inventories, plant assets, current and long-term liabilities, and financial statements. The course involves Excel spreadsheets, financial analysis, and use of the Internet. Prerequisite: ACC 102 with a C or better or permission of department chair. Three lecture hours per week.
1. Define and discuss terms used in contemporary accounting. 2. Explain the functional role of accounting and its impact on the success of an organization. 3. Define ethics as it relates specifically to accounting as well as to business and to general society. 4. Explain the need for accounting standards. 5. Identify the major policy setting bodies and their role in the standard setting process. 6. Explain the meaning of GAAP and the role of the codification of GAAP. 7. Describe the major disclosure techniques for the balance sheet as well as the usefulness of the statement of cash flows.





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