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. 3 credits Fall
- Define and discuss terms used in contemporary accounting.
- Explain the functional role of accounting and its impact on the success of an organization.
- Define ethics as it relates specifically to accounting as well as to business and to general society.
- Explain the need for accounting standards.
- Identify the major policy setting bodies and their role in the standard setting process.
- Explain the meaning of GAAP and the role of the codification of GAAP.
- Describe the major disclosure techniques for the balance sheet as well as the usefulness of the statement of cash flows.