Course Description

ACCT 311H: Intermediate Accounting I (Honors)

This course covers the underlying principles, procedures and reporting requirements necessary to gain an understanding of both the preparation and the use of modern financial reports of profit-seeking entities. Primary topics include: the environment of financial reporting and the conceptual framework of accounting; a review of the accounting cycle; the balance sheet and notes to the financial statements (including contingencies, business segments and interim reports); the income statement, (including transitory, irregular and extraordinary items and comprehensive income); the statement of cash flows; earnings management; the revenue/receivable/cash cycle; and revenue recognition.

The Intermediate Accounting I course ties in directly to the department’s program learning goals in that it is intended to develop (1) sound technical knowledge that is necessary for entry-level positions (2) critical thinking skills (3) an understanding of the ethical responsibilities of the accounting profession and (4) communication and interpersonal skills that are expected of entry-level accountants.