Sophomore standing Introduction to financial accounting concepts.
Emphasis is placed on the accounting cycle.
Emphasis is placed on use of accounting information in decision-making. Introduction to the conceptual framework including an in-depth study of inventory, fixed and intangible assets, and cost and receivables to material covered. Study of present and future value concepts, current liabilities to material covered, long-term liabilities and related issues, accounting changes, leases, principles of revenue recognition and accounting for investments. A continuation of ACG 3113. Study of the accounting for owners equity, earnings per share, pensions, deferred taxes and statement of cash flows.