ACCT 2003 - Intermediate Accounting II
4 Credits
Prerequisites ACCT 2000
This course is part two of a two-part comprehensive study of accounting theory and concepts from the point of view of the Financial Accounting Standards Board (FASB) Statements of Financial Accounting Concepts, and the Statements of Financial Accounting Standards and generally accepted accounting principles (GAAP). This course continues to place emphasis on student understanding of the accounting cycle and complex accounting principles. Topics include financial analysis tools; cost of acquisition, subsequent expenditures, depreciation, depletion, impairment, and disposal of property, plant and equipment; investments and long-term receivables; bonds and long-term liabilities; contributed capital; retained earnings and earnings per share (EPS)income taxes; postretirement benefits; and accounting for leases. Students will acquire practice in using the concept of the time value of money to determine the value of financial assets and liabilities.
Learning Outcomes
Demonstrate advanced proficiency and understanding of the accounting cycle. Demonstrate an understanding of accounting theory and the assumptions and logic inherent in accounting techniques. Measure and recognize fundamental and complex business transactions and understand their effects on the financial reports and on changes in owner’s equity. Define and understand the accounting principles and methods of GAAP. Demonstrate ability to analyze and interpret financial accounting information for decision making.
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