A detailed analysis of the content of financial statements covering problems related to property, plant and equipment, investments, current liabilities and contingencies, bonds and long-term notes, leases, income taxes, and shareholders' equity. US and international reporting standards are compared. Group 2 course.
Required Prerequisites ACC 221
Recommended Prerequisites or Skills Competencies
Students should possess the ability to write business communications, such as research memos and reports to management. Students should also have competency in algebra at the intermediate level.
General Education Outcomes supported by this course
Course Learning Outcomes Knowledge:
- Demonstrate the accounting for various types of assets and liabilities.
- Analyze financial ratios including earnings per share.
- Calculate depreciation, depletion and amortization.
- Prepare accurate financial statements and disclosures.
- Compare and contrast United States Generally Accepted Accounting Principles and International Financial Reporting Standards.
- Use problem-solving strategies based on data to make sound decisions.
Caring - Civic Learning:
- Determine areas of strength and those needing improvement in collaborative situations.
Learning How to Learn:
- Examine various situations related to accounting to make appropriate ethical decisions.
- Use Financial Accounting Standards Board's Accounting Standards Codification to research questions and issues that arise.