A first course in accounting for business majors and minors as well as a useful introduction to accounting principles and practices and to interpreting financial statements for students in all majors. No background in accounting is assumed. The course includes a description and derivation of financial statements prepared by accountants and a discussion of a conceptual framework which provides rationale for accounting practices. The course covers corporation accounting and examines the use of accounting information in the planning and controlling of the firm's operations. 3 A comprehensive study of the methods of financial accounting.
Special emphasis is given to the theoretical basis for accounting.
332 Intermediate Accounting II 3 Continuation of ACTG 321. Continued study of theory covering such topics as fixed assets, intangible assets, long-term liabilities, investments, error analysis and statement of cash flow. 342 Cost Accounting 3 Methods and procedures of ascertaining and distributing the costs of production materials, labor and overhead, the securing of unit costs under job order, and process methods of production. 411 Intermediate Accounting III 3 Continuation of ACTG 332. Topics covered are issues related to income tax accounting, accounting for leases, shareholder equity, dilutive securities and an introduction to some advanced accounting topics.