ACCT 2125 - Introduction to Intermediate Accounting I
Student Learning Outcomes
Identify GAAP necessary to record specific economic transactions related to realization principle (revenue recognition), matching principle (expense recognition) and the balance sheet asset categories.
Analyze how economic transactions reported under GAAP impact financial statements.
Select the appropriate GAAP to record these economic transactions.
Prepare required entries, financial statements and disclosures for these transactions.
Critically examine accounting practices for recognition and reporting and their impact on the accounting environment.
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Course Description Introduction to intermediate accounting concepts, principles and practices, stressing financial reporting theory, applied financial accounting problems and contemporary financial accounting issues. Focuses on the determination of income and financial position of the corporate form of organization. Credits: 3