Intermediate Accounting II

Catalog description

The course involves an in-depth study of the theory and concepts of external financial reporting with the emphasis placed on corporations. Financial accounting standards and practices related to property, plant, & equipment, intangible assets, current liabilities, investments in securities, stockholders’ equity, and leases (from the lessee’s standpoint) are examined in detail. Analysis of corporate financial statements is studied. Financial accounting standards and practices for governmental entities are also examined in depth. Students are required to use the Financial Accounting Standards Board Codification and the GASB Governmental Accounting Research System Online as a research tool for problem solving. Students are also required to demonstrate computer spreadsheet skills--including the use of spreadsheet financial functions--for assessing and solving problems in unstructured business settings. P: ACC 313 and junior standing or approval of department chair.