Chabot College
Fall, 2002
Replaced Fall 2006
Course Outline for Business 2
INTERMEDIATE ACCOUNTING
Catalog Description:
2 - Intermediate Accounting
3 units
Fundamental accounting standards and concepts, environment, framework, procedure and
reporting for assets, liabilities, expenditures, and net income. Prerequisite: Business 1B
{completed with a grade of C or higher). 3 hours.
Prerequisite Skills:
Before entering the course, the student should be able to demonstrate:
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an understanding of transactions germane to corporations;
an understanding between the difference in the accounting process of the corporation as
contrasted to other business forms;
an understanding of long-term liabilities, bonds, and present value tables;
the ability to process transactions dealing with debt and stock investments;
an understanding of statement of cash flows;
the ability to analyze and interpret financial statements by use of ratios, trends, and
comparisons;
an understanding of managerial accounting, manufacturing costs, fixed and variable
costs, standard costs, break-even analysis, product costing, job-order costing;
an understanding of cost-volume-profit analysis;
an understanding of role of budgeting, decision making, and use of present values
tables.
Expected Outcomes for Students:
Upon completion of this course, the student should be able to:
1.
demonstrate understanding of the environment of accounting and the development of
accounting standards;
2. discuss the conceptual framework underlying financial accounting;
3. prepare and analyze financial statements;
4. demonstrate understanding of accounting for current assets, liabilities, owner's equity,
plant, and intangible assets;
6. demonstrate understanding of accounting for the recognition of income and related
expenses.
Course Content:
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Business environment, development of financial accounting standards and procedures
Review of the accounting process
Statement of income and related earnings
Balance sheet and cash flow statement
Cash and temporary investments
Inventory cost and evaluation
Current, contingent, and long term liabilities
Plant and intangible assets
Owner's equity, contributed capital, and net income
Problems in income determination
Methods of Presentation:
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Lectures
Discussion
Problem solving
Chabot College
Course Outline for Business 2, Page 2
Fall 2002
Assignments and Methods of Evaluating Student Progress:
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Typical Assignments:
a. Problems
b. Reading assignments
Methods of Evaluating Student Progress:
a. Examinations
b. Graded problems
c. Final examination
Textbook(s) (Typical):
INTERMEDIATE ACCOUNTING, Duckman, Dukes, & Davis. Richard D. Irwin, 2002
Special Student Materials:
Working papers, inexpensive calculator.
mc 11/27/01
COBUS2