Intermediate Accounting I

Catalog description

This course provides an examination of the source and content of basic accounting theory from the point of view of the FASB Statements of Financial Accounting Concepts and Statements of Financial Accounting Standards. Special emphasis is placed on student understanding of complex accounting processes. Emphasis on the creation and use of general journal entries, end of period adjusting entries, completion of the accounting cycle and production of income statements, changes in owners’ equity, statements of cash flows, and balance sheets. Special attention is paid to issues of the measurement and timing of revenues and expenses. This course may be completed by passing the Financial Accounting CLEP test with a minimum score of 64 points. TSI Restriction(s): Reading, Math, Writing