CRN 50146

3.0 credit hours

The conceptual framework behind financial accounting, reporting and current practice in the preparation of financial statements including the income statement and balance sheet is the focus of this course. This Includes accounting for changes and errors in financial reporting, income recognition, financial accounting disclosure, and analysis of financial statements through percentage and ratio analysis. Recent developments at the FASB, SEC and IASB are reviewed as an essential part of this course and students should be prepared to critically examine prospective financial accounting standards. The course stresses problem solving, critical thinking and research skills. Prerequisite(s): A minimum grade of "C" in all of the following: ACCT 2101, CISM 2530, ENGL 1101, ENGL 1102, and MATH 1111 (or higher level math course).