ACCT 225 – Intermediate Accounting I

Financial accounting theory applications for accounting standards and the accounting process of corporations are reviewed and practiced. Accounting for the balance sheet, income statement, and the statement of cash flows is discussed, demonstrated, and applied. Emphasis is placed on the use of financial statement analysis in decision-making. Accounting for cash and receivables, inventory valuation, fixed assets, natural resources, and intangibles is examined and applied. Lecture 3 hours per week.