Jan 31, 2023
AC 311 - Intermediate Accounting II
This course is designed to leverage the accounting student’s working knowledge of accounting principles and concepts by expanding the understanding of how each is applied to more complex accounting practices. The material in this course goes beyond the debits and credits of transactions to a more critical thinking level of the conceptual framework that directs the path of (GAAP) accounting in the United States.
Prerequisites & Notes
AC 210, AC 211, and AC 310
- Assignments: 5 Units
- Interactivity: None
- Final Assessment: Non-Proctored Final Exam
Course Learning Objectives
Upon completing this course, you should be able to do the following:
- Explain the reporting of the current portion of long-term debt and short-term debt expected to be refinanced.
- Identify and define the criteria applied to the accounting and disclosure of gain and loss contingencies.
- Perform the accounting valuation of notes and bonds at date of issue and points before maturity.
- Identify the key components (accounts) of stockholders’ equity.
- Perform earnings per share computations in simple and complex capital structures.
- Know the three categories of debt securities and the accounting/reporting treatment for each.
- Recognize the categories of equity securities and the accounting/reporting treatment for each.
- Explain the accounting for reclassification of securities from one category to another.
- Describe and explain the various methods of revenue recognition.
- Recognize the criteria established for determining that the earnings process is complete.
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