Intermediate Accounting I

Catalog description

An extension of study of accounting theory applied to corporate accounting and the preparation and interpretation of financial statements. Topics include a review of the accounting process; structure and content of the basic financial statements; and coverage of theory, practice and procedures related to current assets, current liabilities and long-lived assets, tangible and intangible. Three hours lecture and three hours laboratory per week. Grades below B in ACT 201 or ACT 202 or transfer credit coursework deemed equivalent to ACT 201 and ACT 202 , require passing score on department skill assessment.