AC305 Intermediate Accounting II (3 cr.)
This course is a continuation of the comprehensive study of financial accounting theory. Topics include fixed assets and depreciation, long-term investments, current and contingent liabilities, long-term liabilities, contributed capital, leases, accounting for income taxes, earnings per share, and post-retirement benefits.
Upon completion of this course, students are expected to be able to do the following:
- Analyze, classify, and record acquisitions and dispositions to fixed and intangible assets.
- Record depletion, amortization, and depreciation of full and partial periods.
- Analyze, classify, and record transactions involving current, long-term, and contingent liabilities.
- Explain and record the classification of long-term investments and marketable securities.
- Analyze, classify, and record equity transactions.
- Calculate permanent and temporary differences in financial and income tax accounting.
- Recognize various types of computer software and relate the importance to financial reporting and decision making.
- Classify and record a capital and operating lease for the lessee and lessor.
- Study and use the codes of ethics for various accounting professional organizations.
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