ACC 220 Intermediate Accounting I

Lecture: 3 Lab: 2 Clinic: 0 Credits: 4

This course is a continuation of the study of accounting principles with in-depth coverage of theoretical concepts and financial statements. Topics include generally accepted accounting principles and extensive analysis of balance sheet components. Upon completion, students should be able to demonstrate competence in the conceptual framework underlying financial accounting, including the application of financial standards.

Pre-requisite(s): ACC 120 .
Course is typically offered in Fall.
Course has transfer restrictions - 10 years

Student Learning Outcomes (SLOs)
At completion of the course, the student should be able to do the following:

Define the needs of various users of accounting data.
Apply the steps of the accounting cycle to the financial transactions of a business.
Measure the liquidity of a company.
Measure the profitability of a company.
Measure inventory under a variety of cost flow assumptions.
Complete a multi-step income statement.
Complete a classified balance sheet.
Create a Statement of Cash Flows.
Analyze the financial results of a company using appropriate methodology.