AC 205 - Intermediate Accounting I

4.00 credits.

A study of generally accepted accounting principles and their application to asset accounting in the corporate financial reporting environment. Beginning with a brief review of introductory financial accounting topics including the accounting cycle and the financial statements and quickly moving to more challenging and complex topics: alternative procedures to account for current assets, plant and equipment, intangibles and investments; the accounting treatment of related income statement transactions; and valuation, classification, disclosure and cutoff. *Prerequisite(s): AC 101.