Intermediate Financial Accounting 1
|Lecture hours per week||4|
|Lab hours per week|
This course is part of the curriculum for the full-time Accounting diploma program. The course examines advanced financial accounting topics related to the Balance sheet, Income Statement and the Statement of Cash Flows. There is a discussion of the conceptual framework, generally accepted accounting principles, the accounting process and alternate revenue recognition methods. Balance sheet topics include cash, receivables and inventories. The course examines the uses of earnings per share and disclosure notes to facilitate comparisons between companies and the role of accounting standards in improving the quality of earnings information available to financial statement users. Instructional strategies include lectures, class discussion and problem solving and research. Assessment methods include assignments, quizzes and tests with a focus on theory and application. Instructional strategies include lectures, class discussion and problem solving.