Course Course Summary Section 1 Content Section 1 Content Left Section 1 Content Right Credit Type: Course ACE ID: USDA-0551 Organization: Graduate School Location: Classroom-based Dates Offered: 10/1/1996 - 10/30/2008 Credit Recommendation & Competencies Section 2 Content Section 2 Content Left Section 2 Content Right Description Section 3 Content Section 3 Content Left Section 3 Content Right Objective: To have students gain experience in financial reporting, financial statements and related disclosures, as well as asset measurement and income determination. Learning Outcomes: Describe the generally accepted accounting principles Discuss the 4 financial statements specified by the FASB to be used by companies Prepare a classified corporate balance sheet Know footnote disclosure requirements Prepare a bank reconciliation and proof of cash Prepare a financial statement presentation of receivables Understand and calculate the four cost flow assumptions Calculate dollar-value LIFO Estimate the cost of inventory Understand construction cost capitalization Compute depreciation Define intangible assets Define research and development Differentiate between managerial and financial accounting Describe the Financial Accounting Standards Board Discuss the 5 qualitative characteristics of useful accounting information Prepare statements of income, retained earnings, and cash flows Record journal entries Define PPE Know how to change and correct depreciation Know the nature and definition of liabilities Prepare the current liabilities section of a balance sheet Instruction & Assessment Section 4 Content Section 4 Content Left Section 4 Content Right Supplemental Materials Section 5 Content Section 5 Content Left Section 5 Content Right Section 6 Content Section 6 Content Left Section 6 Content Right Button Content Rail Content 1 Page Content