ACCT 301 - Intermediate Accounting I

5 CR

This class expands on topics covered in earlier accounting courses including principles of accounting. The course will review the accounting cycle including the preparation of financial statements; examine of accounting theory and standards; the statement of comprehensive income; the statement of cash flows; revenue recognition; current assets and liabilities; the time value of money.

Prerequisite(s): Admissions to the Applied Accounting, BAS and a GPA of C+(2.3) in each individual required ACCT course: ACCT 101 or ACCT 201 ,and ACCT 102 or ACCT 202, and ACCT 234 or ACCT 203

Course Outcomes

Understand underlying economic events
Become fluent in accounting terminology
Understand how to use accounting standards to map economic events into financial statements
Understand the standard-setting process and incentives that influence it
Use mathematical methods to calculate and record the time value of money
Become aware of the discretion and judgment inherent in choosing accounting estimates and disclosures.

Apply ethical decision-making.

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