ACC 221 Intermed Acc't 1

This course provides an in-depth and critical examination of accounting theory, concepts and regulation. Generally accepted accounting principles (GAAP) will be examined as they relate to financial statement preparation, asset valuation and related income determination. Emphasis will be on applicable accounting pronouncements and convergence with international financial reporting standards (IFRS). The course will involve a research component using the FASB codification database, ethical considerations, cooperative learning, case analysis, and communication skills. Computer literacy is assumed. Prerequisites: ACC 121, ACC 122.