ACC 221 Intermediate Accounting II

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

This course is a continuation of ACC 220. Emphasis is placed on special problems which may include leases, bonds, investments, ratio analysis, present value applications, accounting changes, and corrections. Upon completion, students should be able to demonstrate an understanding of the principles involved and display an analytical problem-solving ability for the topics covered.

Pre-requisite(s): ACC 220 .
Course is typically offered in Spring.
Course has transfer restrictions - 10 years

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

Value the assets of a company.
Record the investments of a company.
Calculate the price of a bond and the resulting interest.
Report contingent liabilities.
Value lease transactions.
Reconcile the difference between tax laws and Generally Accepted Accounting Principles (GAAP).
Account for the repurchase of a company’s own stock. 8. Reconcile differences between US GAAP and International Financial Reporting Standards (IFRS).