This course provides an in-depth study of financial accounting concepts, principles, and standards, focusing on the preparation and presentation of financial statements in accordance with U.S. GAAP. Topics include the accounting cycle, time value of money, revenue recognition, and the measurement and reporting of assets. Emphasis is placed on conceptual understanding, technical proficiency, and the development of analytical skills necessary for success on the CPA Exam and in professional practice. This class may include students from multiple sections.
Must be seeking a Bachelor of Applied Science in Management degree to enroll. If interested, visit pencol.edu/bas.
Prerequisites
Accounting Management BAS Programs Admittance
Course Outcomes
- Explain the conceptual framework and standard-setting environment of financial accounting.
- Apply the accounting cycle to record and report financial transactions.
- Analyze the recognition and measurement of revenue, cash, receivables, and inventory.
- Measure and report long-term assets and investments in accordance with GAAP.
- Evaluate the effects of time value of money on asset and liability valuation.
- Prepare classified financial statements and related disclosures.