ACNT 2303 - Intermediate Accounting I

3 Credits (2 hrs. lec., 3 hrs. lab.) Analysis of generally accepted accounting principles, concepts, and theory underlying the preparation of financial statements. Prerequisite: ACCT 2301
Course Outcomes
1 - Identify objectives of financial accounting and define generally accepted accounting principles.
2 - Prepare and analyze financial statements with emphasis on the income statement and balance sheet.
3 - Analyze complex transactions affecting asset accounts.
4 - Discuss the development of accounting standards.
5 - Discuss the conceptual framework underlying financial accounting.
6 - Complete steps in the accounting cycle.
7 - Prepare statement of income, balance sheet, statement of cashflows.
8 - Apply the concepts of the time value of money.
9 - Journalize entries for cash and accounts receivable.
10 - Measure inventory valuation based on alternative valuation methods.
11 - Journalize acquisition and disposition of property, plant, and equipment.
12 - Calculate depreciation of property, plant, and equipment.
13 - Calculate depletion of natural resources.
14 - Measure and journalize transactions for intangible assets.
15 - Journalize transactions affecting asset accounts.