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Mar 28, 2026
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ACC 531 - Intermediate Financial Accounting I
This course is designed to engage students in utilizing financial statements to communicate essential financial information to a variety of potential stakeholders, including, but not limited to, internal management, investors, and financial professionals. It is part of a two-course series that explores the theory and practice of disclosing financial information in conformance with generally accepted accounting principles (GAAP). The course explores appropriate disclosures and analysis of business entity accounting statements, with specific focus on balance sheet issues.
Credit(s): 3
Prerequisite(s):
ACC 514 or ACC 300 .
Outcomes
- Compare the accrual-basis and cash methods of accounting, determining the impact on financial statements and related disclosures.
- Analyze various accounting concepts and their application to assets, liabilities, owners’ equity, and their effects on the financial statements.
- Contrast the accounting effects of present value and future value computations and their effect on interest amortization.
- Construct the multi-step income statement and a Statement of Retained Earnings.
- Compile a statement of cash flows, given specific assets and liability transactions along with comparative income statements and balance sheets.
- Analyze the effects on inventory using the various cost flow assumptions.
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