ACC 500 Intermediate Accounting I

Intermediate Accounting I covers the major tenets of accounting, including the uses of accounting information in an organization, the accounting cycle, mechanics of recording accounting transactions, and Generally Accepted Accounting Principles (GAAP). Students review and analyze financial statements, including the income statement, the statement of retained earnings, the balance sheet and the cash flows statement. They also construct the income statement, the statement of retained earnings and the balance sheet. Finally, students review time value of money, revenue recognition, and accounting for both short-term and long-term assets. Pre-requisite(s): MBA 514; or permission of Program Chair or designate. Co-requisite(s): None. 3 semester hours