Course Schedule and Catalog

Long Title: ISSUES IN FINANCIAL REPORTING I

Department: Business

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): BUSI 305

Description: Building on subject matter introduced in BUSI 305, this course provides students with a deeper knowledge of generally accepted accounting principles and procedures so that they properly account for and present information in financial statements prepared for external users. The student will acquire an understanding of the accounting issues relating to complex revenue recognition issues, inventory costing, long-lived tangible and intangible assets, and discontinued operations. The student should be able to evaluate alternative accounting methods and choose the methods which will best convey the financial information related to the above areas. The student should be able to demonstrate an understanding of the transaction analysis, recording, classification, summarization, and reporting procedures in the accounting cycle, and an understanding of the information contained in the financial statements. Finally, students should be able to demonstrate written communication skills required of accountants. BUSI 305 Financial Accounting is a pre-requisite for this course.