Certainly! An intermediate financial accounting study guide can cover various topics. Here's a
comprehensive guide that includes key concepts, principles, and examples. Please note that this is a
general guide, and you may need to adjust it based on your specific course content. Also, make sure to
refer to your textbook and class materials for additional information.
### Table of Contents:
#### 1. **Introduction to Intermediate Financial Accounting:**
a. Definition and Purpose
b. Role in Financial Decision Making
c. Regulatory Framework (e.g., GAAP, IFRS)
#### 2. **Review of Basic Accounting Principles:**
a. Accrual Basis vs. Cash Basis Accounting
b. Revenue Recognition Principles
c. Matching Principle
d. Historical Cost Principle
e. Conservatism Principle
#### 3. **Income Recognition:**
a. Revenue Recognition Criteria
b. Multiple-Element Revenue Recognition
c. Recognition of Interest, Royalties, and Dividends
#### 4. **Measurement and Valuation:**
a. Fair Value Measurement
b. Cost Measurement
c. Impairment of Assets
d. Depreciation, Amortization, and Depletion
#### 5. **Liabilities and Equity:**
a. Classification and Recognition
b. Contingencies and Provisions
c. Bonds and Long-Term Debt
d. Leases
#### 6. **Financial Statement Presentation:**
a. Statement of Financial Position (Balance Sheet)
b. Income Statement
c. Statement of Cash Flows
d. Statement of Changes in Equity
e. Comprehensive Income
#### 7. **Statement of Cash Flows:**
a. Operating, Investing, and Financing Activities
b. Direct vs. Indirect Method
c. Cash Flow Ratios
#### 8. **Accounting for Income Taxes:**
a. Deferred Tax Assets and Liabilities
b. Tax Expense vs. Tax Payable
c. Permanent and Temporary Differences
#### 9. **Pensions and Other Post-Employment Benefits:**
a. Defined Benefit vs. Defined Contribution Plans
b. Pension Accounting and Reporting
c. Other Post-Employment Benefits
#### 10. **Accounting for Derivatives and Hedging Activities:**
a. Types of Derivatives
b. Fair Value Hedging vs. Cash Flow Hedging
c. Hedge Accounting
#### 11. **Earnings Per Share (EPS):**
a. Basic vs. Diluted EPS
b. Stock Splits and Dividend Declarations
#### 12. **Accounting for Share-Based Compensation:**
a. Stock Options, Restricted Stock, and Performance-Based Awards
b. ASC 718 (FASB's Accounting Standards Codification)
#### 13. **Statement of Cash Flows:**
a. Operating, Investing, and Financing Activities
b. Direct vs. Indirect Method
c. Cash Flow Ratios
#### 14. **Analyzing Financial Statements:**
a. Ratio Analysis
b. Common Size Financial Statements
c. Vertical and Horizontal Analysis
#### 15. **Ethical Considerations in Accounting:**
a. Accounting Scandals and Their Impact
b. Professional Codes of Ethics
c. Ethical Decision-Making Frameworks
#### 16. **Recent Developments and Updates:**
a. Updates in GAAP or IFRS
b. Changes in Accounting Standards
#### 17. **Case Studies and Practical Applications:**
a. Real-world Applications of Accounting Principles
b. Analyzing Financial Statements of Actual Companies
#### 18. **Review and Practice:**
a. Sample Problems and Exercises
b. Review Questions
#### 19. **Additional Resources:**
a. Textbooks, Journals, and Articles
b. Online Resources and Tutorials
c. Professional Organizations (e.g., FASB, IASB)
### Tips for Effective Study:
1. **Understand the Basics:** Ensure you have a strong foundation in basic accounting principles before
delving into intermediate concepts.
2. **Practice Regularly:** Accounting is a practical subject. Regularly solve problems and exercises to
reinforce your understanding.
3. **Stay Updated:** Keep abreast of changes in accounting standards and regulations.
4. **Use Resources Wisely:** Leverage textbooks, online resources, and class notes to enhance your
understanding.
5. **Collaborate:** Form study groups or discuss challenging concepts with classmates to gain different
perspectives.
Remember, the key to success in intermediate financial accounting lies in a combination of
understanding theoretical concepts and applying them to practical situations. Good luck with your
studies!