M A S T E R S Y L L A B U S
COURSE TITLE AND NUMBER: Intermediate Accounting I - BUS 207
DEPARTMENT: Accounting/MIS
CREDIT HOURS: 3
PREREQUISITES: BUS 108 (within the last 4 years)
FEES AND CHARGES: none
EFFECTIVE CATALOG DATE FOR THIS MASTER SYLLABUS: 2006-2007
1. Catalog Description:
A review of the fundamental accounting processes followed by a detailed analysis of the contents of the balance sheet, income statement, and statement of cash flows.
2. Course Content:
1. Financial Reporting and the Accounting Profession
2. A Conceptual Framework of Accounting
3. Review of the Accounting Process
4. Recognition, Measurement, and Reporting of Income
5. The Balance Sheet and Statement of Cash Flows
6. The Time Value of Money: Accounting Applications
7. Cash and Temporary Investments
8. Receivables
9. Inventories - Cost Allocation and Valuation
10. Revenue Recognition
11. Intangible Assets
12. Fixed Assets – Acquisition, Depreciation and Retirement
3. Student Learning Objectives:
1. To recall and gain a better understanding of the basic principles and procedures of accounting learned in the introductory courses.
2. To gain an understanding of all asset, liability and capital accounts with specific emphasis on how they are:
a. recorded
b. valued
c. reported
3. To gain a better understanding of the nature and use of the various financial statements and how they should be analyzed.
4. To gain preparation for professional certification exams (e.g. CPA exam).
4. Student Assessment Criteria:
The following is a list of the items that will be considered in determining the student's grade and their approximate percentage:
Four (4) exams 85
Homework, quizzes, participation, etc. 5
Practice Set 10
Total 100%
5. Additional Information:
RESOURCE MATERIALS:
1. Intermediate Accounting by Spiceland, Sepe and Tomassini, 4th edition, McGraw-Hill/Irwin. (Required)
2. Study Guide for above text. (Optional)
3. Understanding Corporate Financial Statements, 6th edition, by William Pacewark, Mcgraw-Hill/Irwin