Course

Course Summary

Credit Type:

Course

ACE ID:

ICS-0109

Organization's ID:

ACC201

Organization:

Penn Foster College

Location:

Classroom-based

Length:

Self-paced (52 weeks)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Upper-Division Baccalaureate	3	Intermediate Accounting

Description

Objective:

The course objective is to provide students with the knowledge to apply accounting theory, concepts, and procedures to financial problems. Topics covered include computing earnings per share; lease transactions; income tax accounting; cash flow information; pension and benefit information; and financial statement analysis.

Learning Outcomes:

Understand and interpret the history, structure and process of financial accounting and accounting standards
Apply concepts of revenue recognition and the time value of money to be able to accurately report revenue and the value of investments on financial statements
Examine different ways to properly account for cash, receivables and inventory
Value and account for changes to long term assets including property, plant and equipment as well as intangible assets
Analyze the balance sheet, the income statement and know when and how to disclose important information
Complete the accounting cycle from creating journal entries for transactions through the closing process