ACCT 311 - Intermediate Financial Accounting I

Units: 3
First in the two-course intermediate financial accounting sequence. Topics include financial statements preparation, revenue recognition, and accounting for cash, receivables, inventories, operating tangible and intangible assets, and current liabilities.

Prerequisites: ACCT 210 with grade C or better.
Possible Instructional Methods: Hybrid, or Online-Asynchronous, or Online-Synchronous.
Grading: A-F grading only.
Course Typically Offered: Fall & Spring

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Explain elements of primary financial statements and the statement of comprehensive income.
Explain the composition of cash and the recognition and valuation of accounts receivable.
Calculate inventory costing and discuss additional valuation issues of inventories.
Discuss the valuation of property, plant and equipment in acquisition and disposition. depreciation methods, and impairment issues.
Discuss the types and impairment of intangible assets.
Explain and apply the five-step model for revenue recognition process.
Apply appropriate accounting classification, measurement, and reporting of current liabilities.