ACCT 310 - Intermediate Financial Accounting I

Institution:

Point Park University

Subject:

ACCOUNTING

Description:

A study of accounting standards, the conceptual framework and financial reporting with a focus on the income statement,the balance sheet, the statement of cash flows, and a detailed examination of accounting concepts related to cash, receivables and inventories. Prereq:ACCT 210,CMPS 214 . CourseObjectives This course will provide the student with a strong theoretical basis of Intermediate Accounting concepts, enhancing the knowledge and skills needed to apply more advanced accounting analysis. Upon successful completion of the course, students will be able to: (1) Discuss the financial reporting environment, including the major policy-setting bodies and their role in standard setting, the meaning of generally accepted accounting principles, and the purpose of the Codification and the challenges inherent in the finacial reporting environment. (2) Explain the conceptual framework and its basic components,including the objective of financial reporting, and its qualitative characteristics, elements, assumptions, and principles. (3) Prepare a multi-step statement of comprehensive income and explain its various components,uses, and limitations. (4) Prepare a classified balance sheet and a basic statement of cash flows, and explain their various components,uses and limitations. (5) Explain accounting concepts and apply principles related to the valuation and reporting of cash,recievables, and inventory .

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.pointpark.edu

Phone Number:

(412) 391-4100

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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