ACCT 3250 - Intermediate Accounting I

Upon successful completion of the course students will be able to:

1. Explain and illustrate the features of an accounting information system
2. Identify the components of the Accounting Conceptual Framework and apply them to various accounting scenarios, applications, and procedures
3. Analyze the effects of transactions and events on an entity's financial condition, and apply Generally Accepted Accounting Principles (GAAP) to account for transactions
4. Apply GAAP concepts to construct single-step and multiple-step income statements, including irregular items
5. Apply GAAP concepts to construct a classified balance sheet
6. Apply GAAP concepts to construct a statement of cash flows
7. Perform present value and future value measurements
8. Explain and apply financial reporting issues for cash, accounts receivable, and inventory