Course

Course Summary

Credit Type:

Course

ACE ID:

ICS-0110

Organization's ID:

ACC202

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 an expansion on materials presented in Intermediate Accounting 1. Topics examined and discussed include inventories; investments; intangible assets; current, contingent, and estimated liabilities; premium and discount on long term debt; and stockholder's equity.

Learning Outcomes:

Differentiate between current and long-term liabilities and demonstrate appropriate accounting treatment for each
Discuss the treatment of cash and noncash transactions through the statement of cash flows
Understand how companies should account for investing in other companies' debt and equity securities
Analyze and account for other types of liabilities including leases, bonds, long-term notes, income taxes, pensions, and post-retirement benefits
Explain shareholder's equity and share-based employee compensation and demonstrate how these activities are captured in financial statements
Distinguish among various accounting changes and demonstrate how they should be disclosed