ACCT 2821 Intermediate Accounting I
Course Information
| Course Number | ACCT 2821 |
|---|---|
| Course Title | Intermediate Accounting I |
| Description | This is the first of the two course intermediate accounting series. The content of the course covers an overview of the accounting process, the balance sheet, the income statement and statement of cash flows, the time value of money and other various components of the balance sheet. (Prerequisites: ACCT1810 and ACCT1811 or equivalent as deemed by instructor.) |
| Total Credits | 3 |
| Total Hours | 48 |
| Instruction Type | Credits and Hours |
|---|---|
| Lecture | 3 Credits, 48 Hours |
Pre/Corequisites
Prerequisite: ACCT1810 and ACCT1811 or equivalent as deemed by instructor
Institutional Core Competencies
- Communication - Students will be able to demonstrate appropriate and effective interactions with others to achieve their personal, academic, and professional objectives.
- Critical and Creative Thinking - Students will be able to demonstrate purposeful thinking with the goal of using a creative process for developing and building upon ideas and/or the goal of using a critical process for the analyzing and evaluating of ideas.
Course Competencies
- Illustrate the environment and theoretical structure of financial accounting
- Generate the four basic financial statements
- Analyze the balance sheet and financial disclosures
- Analyze important issues dealing with income statement content, presentation, and disclosure
- Illustrate income measurement and profitablity analysis
- Illustrate the time value of money concepts
- Differentiate the classifications of cash and receivables
- Analyze the measurement and reporting issues involving inventories and the related expense-cost of goods sold
- Illustrate inventory estimation techniques, methods of simplifying LIFO, changes in inventory method, inventory errors and the lower-of-cost-or-market rule used to value inventories
SCC Accessibility Statement
South Central College strives to make all learning experiences as accessible as possible. If you have a disability and need accommodations for access to this class, contact the Academic Support Center to request and discuss accommodations.
North Mankato: Room B-132, (507) 389-7222; Faribault: Room A-116, (507) 332-7222.
Additional information and forms can be found at: southcentral.edu/disability
This material can be made available in alternative formats by contacting the Academic Support Center at 507-389-7222.