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ACC 201: Intermediate Accounting I

3 credits

Designed to strengthen student conceptual approach to financial accounting. While studying the currently accepted methods of valuation and measurement of the economic resources and equities of the firm, student is introduced to the pronouncements issued by the Financial Accounting Standards Board. Accounting for pensions, leases, and price-level changes are some of the topics incorporated into the course.

Learning Goals

Course Goals: Upon completion of this course, the successful student will be able to• Understand the structure of Generally Accepted Accounting Principles (GAAP) and the importance of GAAP pronouncements in the preparation of financial statements.• Apply GAAP in accounting for transactions pertaining to cash and receivables, inventories, property plant and equipment, depreciation, intangible assets, and current liabilities. • Prepare an Income Statement, Balance Sheet and Statement of Cash Flows.• Interpret financial information presented in the financial statements of publicly traded companies.

Sections Offered: Spring 2027

Sections Offered: Fall 2026