Includes accounting concepts and standards related to the determination of net income and financial position. Emphasis on presentation of financial data for investment, credit and other decisions. Emphasis on presentation of financial data to management for internal decision-making.
Emphasis is on the asset side of the balance sheet and related revenues and expenses.
Intensive study of the equity side of balance sheet and related revenues and expenses. Introduction of additional topics including study of accounting theories related to pensions, leases and earnings per share. Includes determination of gross income, adjustments to gross income and deductible expenses. Basic provisions of federal law affecting returns of partnerships, corporations, estates and trusts. Includes determination of gross income, adjustment to gross income and deductible expenses.