Intermediate Financial Acct. I

Catalog description

A continuation of Principles of Financial Accounting with emphasis on the accounting environment, the theoretical structure of financial accounting and its conceptual framework, the different components of the accounting cycle for processing transactions and preparation of the income statement, the statement of retained earnings, the statement of stockholders' equity, the balance sheet, and the statement of cash flows. Students will also learn to apply present value and future value concepts in accounting, as well as accounting for cash, receivables, inventories, acquisition and disposition of property, plant, and equipment, depreciation, impairments, depletion, and intangible assets. Excel and its financial functions and the FASB Codification Database will be applied.