ACC 3416 - Intermediate Accounting I

Credits: 4 hrs

This course concentrates on the nature of financial reporting in the United States and generally accepted accounting principles. Topics covered include cash, inventories, property, plant and equipment, intangibles, current liabilities, bonds, leases, and stockholders’ equity. While the course focuses on the recording of transactions and ultimately the preparation of an Income Statement, Balance Sheet and Statement of Cash Flows, it also exposes students to cases and other written assignments that deal with ethics, international accounting, applying technical judgment, and internet research. The student is exposed to the history and body of theory that has led to the development of generally accepted accounting principles. Topics covered include receivables, investments, inventory, property, plant and equipment, intangibles, and basic financial statements. Prerequisite(s): ACC 2316 and ACC 2317.