AC 301T - Intermediate Accounting I

(3 units)

Intermediate accounting continues the study of debits and credits, and begins to utilize the basic knowledge gained from AC 201 and AC 202. This course expands the basic concepts and starts to enter into the preparation of more advanced financial statements and financial accounting concepts, such as the time value of money, the statement of cash flows, and more in-depth study of particular subjects such as property, plant and equipment, and long-term debt. The course concludes with comprehensive financial statement preparation and analysis for decision-making purposes. Throughout the course, where applicable, students will be exposed to global accounting standards (i.e., International Financial Reporting Standards); professional research of the Accounting Standards Codification; and professional accounting simulations.
Prerequisites: AC 202T or AC 273T