ACCT 301 - Intermediate Accounting I

Credits: 5
Addresses financial accounting principles and practices, including study of the theory and principles underlying presentation and interpretation of working capital, investments, long-term liabilities, and stockholders equity. Emphasis on the importance of developing professional judgement in accounting with exploration of how effective judgement impacts decision-making.
Course Outcomes:

Assess the Accounting Conceptual Framework and underlying principles of accounting applications and procedures.
Analyze and record transactions and events in order to accurately display the effect on an entity’s financial condition.
Calculate present and future values of cash in order to value assets and liabilities.
Apply professional judgment to define and measure assets according to Generally Accepted Accounting Principles.
Allocate the recorded assets as expenses to the proper accounting period in accordance with the matching concept.

Course Topics:

Conceptual Framework
Accounting as an information system
Financial Statement presentation
Time Value concepts
Present Value
Future Value
Accounts Receivable
Inventory valuation
Revenue recognition
Expense recognition

LEC Credits: 5
LEC hours per week: 5
Prerequisite(s): Grade of C or higher in ACCT& 203
Course Attribute(s): Course-BAS
OEE Permitted: No
Grading Basis: Graded
Instructor/Department Consent Required: Consent Required
CIP Code: 52.0301
Default Section Size/Cap: 25
Quarter(s) offered:

Fall