Intermediate Accounting II

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The course provides an in-depth study of the theory, concepts, and procedures of financial accounting. It is a continuation of ACC3114 and focuses on valuation issues related to liabilities and stockholders’ equity. Students are introduced to relevant United States Generally Accepted Accounting Principles and significant disclosures.





  • Computing and reporting current liabilities, and selecting and using appropriate technology in calculations, journal entries, and reconciliations.
  • Classifying and accounting for long-term debt throughout the life cycle of the debt, including basic classification and effects of modifications to the original debt agreement and debt extinguishment. Selecting and using appropriate technology in calculations, journal entries, roll-forward schedules, and reconciliations.
  • Recalling basic concepts of accounting for income taxes and calculating the amounts to be reported in related specific income tax accounts on the income statement and balance sheet.
  • Recalling basics of reporting of commitments and contingencies.
  • Identifying techniques to measure and use concepts and hierarchy for fair value.
  • Recalling criteria for lease classification by lessees, computing amounts, and preparing journal entries for lessees at the appropriate time.
  • Interpreting contacts and determining lease accounting as recognized for lessees and lessors. Using appropriate technology as applicable.
  • Computing financial statement ratios and other metrics using appropriate technology and interpreting the effect of transactions on the metrics.
  • Preparing journal entries to recognize equity transactions in the financial statements.
  • Reading notes to identify inconsistencies with reported amounts in the financial statements and adjusting as needed.
  • Listing requirements and financial statements related to for-profit entity financial reporting, such as Securities and Exchange Commission (SEC) requirements, and preparing financial statements using appropriate technology (e,.g., general ledger software, spreadsheet software/application) in accordance with special purpose frameworks.

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