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Intermediate Financial Accounting II
INTER ACCT II
CLASS CODE: ACCTG 302 CREDITS:  3
DIVISION: BUSINESS & COMMUNICATION
DEPARTMENT: ACCOUNTING
GENERAL EDUCATION: This course does not fulfill a General Education requirement.

DESCRIPTION: This course is a continuation of Accounting 301, Intermediate Financial Accounting I. The course is designed to give students an in-depth introduction to those financial accounting principles and concepts governing the measurement and reporting of assets and liablities. Students will be expected to demonstrate proficiency in applying technical concepts to selected problems. Students will also be expected to use the FARS database to research assigned case studies.
TAUGHT: Winter, Summer, Fall
CONTENT AND TOPICS:

  • Investments

  • Property, Plant, and Equipment
  • Depreciation, Impairments, and Depletion
  • Intangible Assets

  • Current Liabilities and Contingencies

  • Long-term Liabilities

  • Accounting for Leases

  • Accounting for Income Taxes
GOALS AND OBJECTIVES:

  1. Give students the opportunity to learn and apply generally accepted accounting principles and concepts governing U.S. companies.

  2. Students are presented with case studies throughout the course which help them develop a familiarity with research tools, in particular the FARS database.

  3. Students develop communication skills in the written answers to case studies and the oral participation in class.
REQUIREMENTS: The course requires a thorough understanding of introductory and intermediate financial accounting principles and how to apply such principles to assigned problems. Participation in class discussions and the ability to proactively interact with other students in research projects.
PREREQUISITES: ACCTG 301
OTHER: A Business/Financial Calculator is required for the course. Students are to know the Time Value of Money functions of a financial calculator and how to apply the functions to assigned problems prior to beginning the course.
EFFECTIVE DATE: January 2002