ACC 240 — Intermediate Accounting I
(3 Lecture 0 Lab 0 Shop) 3 Hrs./Wk. (3 Hrs. Lecture) *1 5 wks. This course begins with a comprehensive review of accounting principles, including the conceptual framework of accounting as prescribed by the Financial Standards Board (FASB) and Generally Accepted Accounting Principles (GAAP). Other topics include concepts of future and present value, theory underlying revenue recognition practices, internal control procedures for cash, basic alternative inventory valuation methods, as well as recording of investment securities. higher.