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ACCT 601. Advanced Financial Accounting I

Credits: 3
Department: Accounting
Description: Advanced accounting theory and literature as applied to financial accounting, standard-setting, and the basic financial statements. Current and long-term assets, and current liabilities.
Semester Offered: DEMAND
Grading Method: ABCDF
Permissions: Permission of department

Student Learning Outcomes

1. Students will describe and explain the objectives of financial reporting, the standard setting process, and the conceptual framework underlying financial accounting.
2. Students will identify sources of information and create a balance sheet, income statement, statement of stockholders' equity, and statement of cash flows under GAAP.
3. Students will measure amounts for transactions, record transactions, and describe disclosure for current assets, long-term assets, and current liabilities.
4. Students will evaluate accounting treatments and identify the best one for current assets, long-term assets, and current liability transactions.

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