ACC 321 – Intermediate Financial Accounting I

3 credit(s)

Accounting process and the application of GAAP to the recognition and measurement of cash, receivables, inventories, property plant and equipment, depreciation and depletion, intangibles, and current liabilities. Pre: 202 with C- or better.


  • The environment of financial reporting including: a discussion of the CPA exam, the requirement of CPA license, the location of the KPMG Accounting Research Center at CBA and SOA Bulletin Board, accounting as a career choice
  • Introduction of accounting certificates (i.e., CPA, CMA, CIA, CISA, etc.) and accounting associations (i.e., HSCPA, IRA, AGA, ASWA, IIA, etc.)
  • The accounting model
  • Financial reporting: its conceptual framework
  • Introduction of FARS (Financial Accounting Research Systems)
  • Balance Sheet
  • Income Statement
  • Statement of cash flows
  • Statement of changes in shareholders equities
  • Cash and receivables
  • Inventories: cost measurement and flow assumption
  • Inventories: special valuation issues
  • Property, plant and equipment
  • Depreciation and depletion
  • Intangibles
  • Current liabilities and contingencies
Course Syllabi
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