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ACC 201 INTERMEDIATE ACCOUNTING I

ACC 201Intermediate Accounting I

Course Outline

Course Number & Name:  ACC 201 Intermediate Accounting I

Credit Hours:  4.0             Contact Hours:  4.0          Lecture:  4.0       Lab:  N/A             Other:  N/A

Prerequisites:  Grade of “C” or better in ACC 102

Co-requisites:  None                                                      Concurrent Courses:  None

Course Description:  This course provides an expanded treatment of the theory and accounting principles underlying the preparation of financial statements, and the proper uses that can be made of financial data.  Current asset analysis and valuation methodology, current liabilities, and revenue determination procedures are studied in relation to FASB accounting requirements.  A comprehensive review of fundamental accounting processes using microcomputer software is included.

Course Goals: Upon successful completion of this course, students should be able to do the following:

  1. identify and describe how accounting principles and/or assumptions underlie all accounting procedures and practices;
  2.  explain the accepted accounting reporting classifications;
  3. prepare financial statements in accordance with current accounting pronouncements;
  4. explain how various accounting guidelines underlie the reporting process;
  5. discuss formalized accounting guidelines and rules; and
  6. complete a specialized comprehensive accounting project.