ACCT 6110 - Financial Accounting and Reporting

Institution:

Utah Tech University

Subject:

Description:

This course will cover the hypothetical, conceptual and pragmatic principles with form the general frame of reference for financial accounting and reporting. Pronouncements issued by FASB and predecessor standard-setting bodies will be researched as well as current accounting issues. **COURSE LEARNING OUTCOMES (CLOs) At the successful conclusion of this course, students will be able to: 1. Explain the conceptual framework for financial reporting under both the U.S. generally accepted accounting principles (GAAP). 2. Describe and apply the time value of money concepts. 3. Prepare an income statement and detect issues dealing with its content, presentation, and disclosure. 4. Prepare and interpret a classified balance sheet. 5. Identify and explain the five steps in the revenue recognition process. 6. Specify the measurement and valuation issues and the related income statement effects of transactions involving cash, accounts receivable, and inventories. 7. Distinguish events that need to be recorded in the accounting records. 8. Prepare accounting records and financial statements from source documents in accordance with Generally Accepted Accounting Standards. 9. Identify the major differences between financial and tax accounting. 10. Explain and analyze financial statements, including their footnotes. Prerequisites: Acceptance into the MAcc Program. FA

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.utahtech.edu/

Phone Number:

(435) 652-7500

Regional Accreditation:

Northwest Commission on Colleges and Universities

Calendar System:

Semester

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