SYLLABUS
DIVISION: BUSINESS & ENGINEERING TECHNOLOGIES
COURSE NUMBER AND TITLE:
DATE: 5/11/04
ACC 221, INTERMEDIATE ACCOUNTING I
CREDIT HOURS: HOURS/WK LECTURE: 4
I.
CATALOG DESCRIPTION: Covers accounting principles and theory, including a
review of the accounting cycle and accounting for current assets, current liabilities,
and investments. Introduces various accounting approaches, and demonstrates the
effect of these approaches on the financial statement users.
II.
RELATIONSHIP OF THE COURSE TO CURRICULA OBJECTIVES IN
WHICH IT IS TAUGHT: Explain financial accounting theories and practices as
they relate to business environment.
III.
REQUIRED BACKGROUND: Principles of Accounting II, ACC 212 or 112 must
be taken prior to entering Intermediate Accounting I.
IV.
COURSE CONTENT:
V.
Accounting Cycle
Adjustments
Financial Statements
Present Value
Annuity
Cash & Receivables
Inventory Valuation
Property, Plant & Equipment
Depreciation and Depletion
Amortization
Intangible Assets
LEARNER OUTCOMES:
VI. EVALUATION:
Describe the accounting cycle on
Accumulating and summarizing
Accounting data.
In-class test
Describe and illustrate the content
And form of the income statement,
Retained earnings statement, balance
Sheet and statement of changes in
Financial position.
In-class test
Identify criteria for classifying and
Disclosing the various components of
COURSE SYLLABUS
In-class test
PAGE 2
Cash and marketable securities.
VII.
Identify the various types of receivables
And the appropriate classifications for
Reporting purposes.
In-class test
Describe the nature, classification and
Cost allocation of items included in
Inventory.
In-class test
Explain and illustrate the use of various
Valuation methods for inventories.
In-class test
Distinguish the nature and classification of
Plant assets and intangible assets.
In-class test
Describe and illustrate the recording of asset
Acquisitions under various acquisition methods
In-class test
Describe, illustrate and evaluate alternative
Methods of depreciation and amortization.
In-class test
GENERAL EDUCATION OBJECTIVES ADDRESSED IN THIS COURSE:
Communications
Learning Skills
Computational Skills
Critical Thinking