ACCT 311Intermed Accounting Theory I

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This course builds on ACCT 211 and covers concepts, standards, principals, procedures and assumptions underlying U.S. Generally Accepted Accounting Principles (U.S. GAAP) in greater detail, as well as different concepts. Financial transactions are analyzed both from the perspective of a financial statement preparer and user. This course is an in-depth study of financial accounting topics involved in preparing financial statements including financial accounting standards, the accounting process, balance sheet, income statement, revenue recognition, time value of money, cash, receivables, inventory methods, property plant and equipment, intangibles, and investments. Offered fall and spring semesters. 3 credits. Prerequisite junior standing and ACCT 211