In-depth study of accounting theory, generally accepted accounting principles and the techniques involved in measuring, recording, summarizing, and reporting financial data for business enterprises.
Course Credits: 3
Prerequisites: ACCT 2301 with a grade of B or better and ACCT 2302 or ACCT 3310 and ACCT 2302.
Student Learning Outcomes
By the end of this course, you will be able to:
- Explain the differences between cash basis and accrual basis accounting.
- Complete the accounting cycle beginning with transaction analysis and ending with financial statement presentation.
- Explain the components of each of the basic financial statements.
- Apply accounting standards related to revenue recognition, current asset accounting, inventory accounting, and fixed asset accounting.
- Apply basic present value concepts to various types of cash flows.