ACT 320, 321 - Intermediate Accounting I

Course unit(s): 1
Meets GAR: Meets general academic requirement W when offered as 321.
Prerequisite(s): ACT 101 Financial Accounting with a grade of ‘C’ or better required. ‘B’ or better recommended. Sophomore status or permission of the instructor is also required.
Theoretical bases for accounting practices are explored along with a detailed analysis of the financial statements and accounting principles for valuing assets. Topics include the conceptual framework of accounting, balance sheets, income statements, statements of cash flow, current and long-term assets, and International Financial Reporting Standards. Students will continue to use computers as a tool for preparation, analysis, and presentation of financial data.