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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.

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.

*The learning goals displayed here are those for one section of this course as offered in a recent semester, and are provided for the purpose of information only. The exact learning goals for each course section in a specific semester will be stated on the syllabus distributed at the start of the semester, and may differ in wording and emphasis from those shown here.

• ACC 102