Nov 23, 2024  
2022-2023 College Catalog 
    
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2022-2023 College Catalog [ARCHIVED CATALOG]

AC 201 INTERMEDIATE ACCOUNTING I



This intermediate level course is the first part of a two-course sequence intended for accounting majors. This course in financial accounting and reporting broadens the existing theoretical and conceptual foundation and balances it with technical procedures. Students learn to identify, measure, and communicate financial information in accordance with generally accepted accounting principles. Coverage includes the FASBs conceptual framework of accounting, a review of the accounting process, the reporting requirements for income statement and the statement of retained earnings, classification and valuation in the balance sheet, the statement of cash flows, revenue recognition and income determination, and the concepts of time value of money. Lecture: 4 hours per week. 4 Credits. Prerequisite: AC 102