ACCT 5111 continues where Intermediate Accounting I (ACCT 5101) left off. While ACCT 5101 focused on the asset side of the balance sheet along with revenue recognition and income determination, ACCT 5111 focuses on the liabilities and owners? equity portion of the company's balance sheet. We will begin with a very brief overview of the history and theoretical basis of financial accounting and a brief review of the financial statements. Students are expected to understand the theory that lies behind the accounting issues covered in the class, and to become technically proficient regarding the accounting principles governing the reporting of liabilities and equity within the financial statements. The course also emphasizes the evaluation of financial statements and analysis of the impact of various accounting methods on the reported results of companies.
ACCT 5111 and ACCT 5112 replace ACCT 5102. If credit is received for ACCT 5102, it cannot be granted for ACCT 5111 or ACCT 5112.
prereq: ACCT 5101
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