ACC410C Intermediate Accounting III
Lead Faculty: Dr. Connie Fajardo
Course Description
Often referred to as "Intermediate Accounting," (See ACC 410A for a series description.) ACC 410C covers revenue and expense recognition, accounting for leases, pensions, income taxes, earnings per share, accounting changes and errors, segment and interim reporting, and preparation of the statement of cash flows.
Learning Outcomes
- Compute earnings per share and account for convertible debts, preferred stocks, stock warrants and stock compensation plans.
- Discuss and apply accounting theory as it relates to revenue recognition in special situations such as long-term contracts and installment sales.
- Apply the concepts in the computation and accounting for deferred income tax.
- Differentiate between capital and operating lease and apply appropriate accounting for each type of lease.
- Analyze pension plan data and other employee-benefit obligations, and apply appropriate accounting treatment and financial statement presentation, including required financial statement disclosure.
- Describe the nature of accounting changes and errors, and apply accounting and reporting practices for each type of change and correction.
- Apply the theory upon which the "statement of cash flows" is based, by preparing such statements and, upon completion, evaluating the company from the viewpoint of its sources and uses of cash and cash equivalents.
- Explain and apply the concept of the "full disclosure" required in the presentation of financial statements under U.S. GAAP including segment and interim reporting.
