4 Credit Hours
Intermediate Accounting includes a rigorous study of accounting theory and concepts, emphasizing an intensive exploration of various accounting topics. To improve a grasp of the principles and concepts of financial accounting, used in solving a variety of complex accounting issues, to strengthen your understanding of generally accepted accounting principles, to illustrate the uses of accounting information in an upper level undergraduate academic setting, and to gain an intuition regarding how to attack various kinds of accounting and reporting issues.
It focuses on the preparation of financial statements with particular emphasis on the corporate form. Topics of coverage include financial statements, current assets, inventory, property, plant, and equipment, and intangible assets.
The topics covered include liabilities, contingencies, stockholders’ equity, dilutive securities, earnings per share, investments, revenue recognition, income taxes, pensions, postretirement benefits, leases, accounting changes and error correction, statement of cash flows, financial statement analysis, and full disclosure. Students will learn how to apply some of the many accounting and economic concepts they have learned to the analysis of a company’s financial position and performance as shown in published information, primarily focusing on financial statements.