Intermediate Accounting I

4.0 credits

This course builds upon the underlying framework and concepts of ACC201 Financial Accounting. This course is one of two courses in intermediate accounting. This course starts with an in depth review of the standard setting process and of the theoretical structure underlying the accounting process. The course analyzes what information is reported on each of the financial statements: Balance Sheet, Statement of Shareholders Equity, Income Statement and Statement of Cash Flows. Finally, the course delves into the reporting of various assets on the balance sheet, such as: cash, receivables, inventory, plant assets, intangible assets and investments. Throughout the course, the differences between treatment under U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) are discussed.