Chabot College
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.
[Typical contact hours: 52.5]
Prerequisite Skills:
Before entering the course, the student should be able to:
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process transactions germane to corporations.
identify the differences in the accounting process of a corporation as contrasted to other
business forms;
analyze long-term liabilities and bonds by using the present value tables;
process transactions dealing with debt and stock investments;
prepare a statement of cash flows;
analyze and interpret financial statements by use of ratios, trends, and comparisons;
analyze and process managerial accounting, manufacturing costs, fixed and variable costs,
standard costs, break-even analysis, product costing, job-order costing;
perform cost-volume-profit analysis;
identify the role of budgeting, decision making, and use of present value tables.
Expected Outcomes for Students:
Upon completion of this course, the student should be able to:
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demonstrate an understanding of the environment of accounting and the development of
accounting standards;
analyze and identify the conceptual framework underlying financial accounting;
prepare and analyze financial statements;
demonstrate an understanding of accounting for current assets, liabilities, owner's equity, plant,
and intangible assets;
demonstrate an 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 2006
Assignments and Methods of Evaluating Student Progress:
1.
Typical Assignments:
a. Prepare and analyze an Income Statement and Retained Earnings
b. Prepare and analyze a Balance Sheet and Statement of Cash Flow
c. Evaluate Investments, Inventory costs, and Tangible & Intangible Assets
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Methods of Evaluating Student Progress:
a. Examinations
b. Graded problems
c. Final examination
Textbook(s) (Typical):
Intermediate Accounting, Kieso. Wiley and Sons, March 2005
Cases in Financial Reporting, 5th Edition, Hirst and McAnally. Prentice Hall, Spring 2006
Financial Reporting and Analysis, 3rd Edition. Revsine, Collins & Johnson. Prentice Hall, 2005
Special Student Materials:
Working papers, inexpensive calculator.
ww 11/01/05
Bus 02 course outline.doc