AC 355 Intermediate Accounting II
This course, Intermediate Accounting II, is a continuation of the study of Intermediate Accounting theory and practice. The course focuses on a study of the Liabilities and Shareholders' Equity accounts as found on the Balance Sheet. An additional review of cash flows and the Statement of Cash Flows is also included. Revenue recognition methodologies are studied, as prescribed by the latest generally accepted accounting practices to account for long-term contracts. Accounting changes and error corrections to financial statements are studied and practiced. Accounting for Income Taxes is introduced, including the reconciliation of book and tax differences and the establishment of deferred Income Tax values.
Offered
Fall, Spring