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2011-2012 University Catalog
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ACCT 331 - Intermediate Financial Accounting ICredits: 3 (NR)
Deals with the accounting process used to measure and report economic events. The primary goals are to understand the role financial reporting plays in providing decision-useful information; understand the economics underlying business transactions and learn the generally accepted accounting principles (GAAP) that set the reporting and disclosure requirements for those transactions; evaluate the efficacy of GAAP; and understand the motivations that lead managers to select one accounting principle over another. Topics include the accounting process and the conceptual framework, financial statements, and accounting for current and noncurrent assets and liabilities. International Financial Reporting Standards (IFRS) are discussed.
Prerequisite(s): Degree status, grade of B minus or higher in ACCT 301. Prerequisite enforced by registration system.
Notes: Mid-term and final exams may be scheduled on Saturdays for this class. The number of class sessions will be modified to compensate for mid-term examination time. Accommodations will be made for religious conflicts, Saturday classes, and certain official university activities.
Hours of Lecture or Seminar per week: 3
Hours of Lab or Studio per week: 0
When Offered: Fall, Spring.
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