Intermediate Accounting 1

Catalog description

In this course, students explore the preparation and understanding of financial information and accounting theory and practice to gain an understanding of the framework of the United States Generally Accepted Accounting Principles (U.S. GAAP). Students focus on the recognition of economic transactions utilized in preparation of financial statements. Related disclosures as they pertain to cash, receivables, inventory, property, plant and equipment are explored. The time value of money, depreciation and asset impairment are also discussed.