ACC 701 - Intermediate Accounting I

(3 units)

This course provides students with technical knowledge in accounting beyond the introductory accounting and business courses. Specifically, it covers the following topics: the conceptual framework that underlies generally accepted accounting principles; accounting cycle; balance sheet, income statement & statement of cash flows; revenue recognition; cash, accounts receivables; long-term assets; and inventory costing methods.

Per University policy, students may attempt this course not more than twice.

Maximum units a student may earn: 3

Prerequisite(s): admission to the online MAcc program.

Grading Basis: Graded
Units of Lecture: 3
Offered: Every Fall

Student Learning Outcomes
Upon completion of this course, students will be able to:
1. explain the conceptual framework of U.S. GAAP.
2. construct financial statements at the intermediate level.
3. apply a variety of GAAP-acceptable methods to properly account for revenues, cash, receivables, inventory, and long-term assets.

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