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meets in-class on Tuesdays/Thursdays from 12:30-1:45 AM in TJM room 307. Students may also join via Adobe Connect during class time. Adobe Connect is a third party subscription.

Required Textbook: INTERMEDIATE ACCOUNTING, Spiceland, Sepe & Nelson, 7th Edition, New York, NY: Irwin / McGraw-Hill, 2013, ISBN-10: 0-07-802532-x ISBN-13:978-0-07-802532-7.

Required Software: Microsoft Word, Microsoft Excel, McGraw Hill Connect subscription

Course Description & Objectives

This course examines the accounting theory, concepts, and procedures inherent in the preparation of the general-purpose financial statements required of all publicly traded companies. Specifically addressed are the balance sheet, income statement, statement of cash flows, explanatory notes, and the auditor’s opinion. Other areas explored include review of the accounting process, profitability analysis, financial disclosures, and time value of money concepts. IFRS (International Financial Reporting Standards) will be explored in conjunction with each chapter’s GAAP procedures.

Prerequisites: BUS 232 – Principles of Managerial Accounting.

Upon completion of this course you should be able to:

1. Understand the environment and theoretical structure of financial accounting.
2. Perform the steps in the accounting processing cycle and apply both cash and accrual based accounting.
3. Apply Generally Accepted Accounting Principles in the preparation of the income statement, balance sheet, and statement of cash flows.
4. Determine and prepare required financial disclosures.
5. Perform profitability analysis and income measurement.
6. Apply the concepts of the time value of money to income measurement and profitability analysis.
7. Apply the procedures to account for cash and receivables.
8. Perform inventories accounting and measurement

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