ACNT 2303 - Intermediate Accounting I

Credit Hours: 3
Contact Hours - Lecture: 2 Lab: 3
Analysis of generally accepted accounting principles, concepts, and theory underlying the preparation of financial statements.
Prerequisite: ACCT 2301
Student Learning 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.