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Dec 04, 2024
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2023-2024 Yavapai College Catalog [PREVIOUS CATALOG YEAR]
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ACC 233 - Intermediate Accounting I
Description: Financial accounting topics, including generally accepted accounting principles application, as well as rationale and clarification of the reasons for specific accounting principles. Includes analysis and use of balance sheets, cash and receivables, inventories, and temporary and long-term investments.
Prerequisites: ACC 131
Credits: 3
Lecture: 3
Course Content:
- Environmental and theoretical framework of financial accounting
- Accounting information systems
- Financial statements and reporting issues
- Revenue recognition
- Time Value of Money concepts
- Cash and receivables
- Inventories
- Property, Plant, and Equipment
- Intangible assets and natural resources
- Investments
Learning Outcomes:
- Apply the foundations of accounting theory and practices to solve problems and case studies of moderate to advanced complexity. (1-10)
- Prepare financial reports in problems and case studies of moderate to advanced complexity. (1-4)
- Apply various revenue recognition principles (4).
- Use mathematical principles and applications for calculations related to the time value of money. (5)
- Analyze and manage cash and temporary investments. (6)
- Solve problems involving accounts receivables in case studies of moderate to advanced complexity. (6)
- Analyze and solve inventory accounting problems of moderate to advanced complexity. (7)
- Calculate and record long-term investment transactions. (5, 8, 10)
- Determine acquisition price, useful life, and methods of cost allocation of tangible and intangible assets. (8, 9)
- Solve problems of moderate to advanced complexity related to the acquisition, utilization and retirement of tangible and intangible assets. (8, 9)
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