AC 2050 - Intermediate Accounting I

3.00 credits.

Intermediate Accounting I is the in-depth study of professional accounting pronouncements – Generally Accepted Accounting Principles (“GAAP”), used for financial reporting purposes. This first course of a two-part series focuses mainly on asset accounts. An overview of financial statement preparation and accounting principles that govern the reporting of cash, receivables and inventories will be explored. Other topics of study focus on accounting for property, plant and equipment, key concepts in accounting for intangibles, and current liabilities accounts.Prerequisite(s): AC 1060 - Principles of Accounting II or AC 1080 - Managerial Accounting