Intermediate Accounting I

Catalog description

The study of financial accounting theory and practice relating to monetary assets, inventories, plant assets, intangible assets, current liabilities, contingencies, and stockholders’ equity. Present value applications, and preparation of financial statements are examined. The following topics are also overviewed: the environment of financial accounting, the development of accounting standards, and the conceptual framework underlying financial accounting. Prerequisites: ACC 132; minimum grade of B/C combination between ACC 131 and 132; grade of B or better in ACC 131 and 132 is strongly recommended.