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Course Description

This course concludes the studies from Intermediate Accounting I by exploring complex topics involving stockholder's equity, earnings per share, investments, revenue recognition, accounting for income taxes, leases, and pensions and other long term benefit obligations.  The course also covers accounting errors and changes, audit reports and financial statement disclosures.

Successful completion of this course is the basis of preparation for enrolling in Advanced Accounting.

Learner Outcomes

  • Stockholder’s equity
  • Earnings per share
  • Investments
  • Revenue recognition
  • Income taxes
  • Pensions and other long term benefit obligations
  • Errors and changes
  • Audit reports and financial statement disclosures
  • Understand the components of stockholder’s equity and how different classes of shares of stock impact earnings per share calculations
  • Communicate why earnings per share is an important metric for most publicly held companies
  • Identify and properly categorize assets classified as investments
  • Discuss revenue recognition concepts and apply the percentage of completion method for long-term contracts
  • Understand the differences between tax obligations and US GAAP accounting for taxes
  • Explain the accounting related to pensions and similar long-term obligations
  • Apply accounting concepts for both operating and capital leases from both the lessor and lessees standpoint
  • Identify the differences between accounting changes and corrections.
  • Understand what auditors attest to in their reports and review required financial statement disclosures.
     

Prerequisites

Suggested: Intermediate Accounting I, equivalent course, or consent of instructor

Applies Towards the Following Certificates

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Classes are offered according to the schedule on the respective Certificate or Program Page. Please click on the Request Information below to be promptly notified when enrollment opens.