Course Objectives & Requirements:

Intermediate accounting 1 is designed to assist students in developing professional competence and skills to:

1. Understand and apply the basic financial accounting theory, conceptual framework and accrual accounting.

2. Understand and apply revenue recognition and measurement;

3. Understand and apply the accounting treatment for various assets.

Course Contents:

Chapter 1 Fundamentals of Financial Accounting Theory    

Chapter 2 Conceptual Frameworks for Financial Reporting  

Chapter 3 Accrual Accounting    

Chapter 4 Revenue Recognition  

Chapter 5 Cash and Receivables  

Chapter 6 Inventories           

Chapter 7 Financial Assets       

Chapter 8 Property, Plant, and Equipment  

Chapter 9 Intangible Assets, Goodwill, Mineral Resources, and Government Grants   

Chapter 10 Applications of Fair Value to Non-Current Assets  

Credits: 4