Dec 04, 2022  
2018 - 2019 Saint Joseph’s College Online Catalog 
2018 - 2019 Saint Joseph’s College Online Catalog [Archived Catalog]

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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

Assignment Overview
  • 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;
  • Differentiate between the employer’s accounting for the pension plan and pension plan accounting;
  • Describe and explain the alternative measures of the pension obligation;
  • Explore the underlying concept of capital leases;
  • Know the four criteria used to identify a capital lease transaction;
  • Value the statement of cash flows;
  • Know the major classifications and sections of the statement of cash flows; and
  • Evaluate the types of changes in accounting principles and their effect on financial reporting as well as the economic motives for such changes.

Credits: 3

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