ACCT 2130 - Introduction to Intermediate Accounting II
Student Learning Outcomes
Identify GAAP necessary to record specific economic transactions related to realization principle (revenue recognition), matching principle (expense recognition), and related transactions involving liabilities, stockholders’ equity and other financial statement components.
Apply financial accounting theory, professional standards and judgement to real world business 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.
Course Description Completes the accounting theory framework started in Introduction to Intermediate Accounting I with the concepts and principles underlying liabilities, stockholders’ equity, and the effects on the income statement and statement of retained earnings. Credits: 3