ACC 323 Finan Acc't Theory Adv Applic

This course concludes the 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 and disclosure, revenue recognition, long-term construction contracts, deferred taxes, pensions, leases, accounting changes, interim reporting and financial analysis. 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. Prerequisite: ACC 322.