Intermediate Accounting I

Conceptual Framework and Standards

Explore the theoretical structure underlying financial reporting and accounting standard-setting. Master fundamental concepts including relevance, faithful representation, and materiality that guide professional judgment in complex reporting scenarios.

Financial Statement Foundations

Analyze the structure and components of financial statements including income statements, balance sheets, and cash flow statements. Understand the accounting information system and the mechanics of recording and reporting business transactions.

Time Value of Money Applications

Apply present and future value concepts to accounting measurements and disclosures. Master techniques essential for asset valuation, liability measurement, and complex financial instrument analysis.

Revenue Recognition Mastery

Implement the five-step revenue recognition model across diverse business transactions. Analyze contracts with multiple performance obligations, variable consideration, and extended timeframes while ensuring compliance with current standards.

Cash and Receivables Management

Account for cash equivalents, bank reconciliations, and various receivable types. Master valuation techniques including allowance methods, factoring arrangements, and disclosure requirements.

Inventory Valuation Systems

Compare inventory costing methods including FIFO, LIFO, weighted average, and specific identification. Analyze the impact of inventory choices on financial performance and apply lower-of-cost-or-market principles.

Property, Plant, and Equipment

Develop expertise in long-lived asset accounting from acquisition through disposition. Master capitalization criteria, depreciation methodologies, impairment testing, and gain/loss recognition.

Intangible Assets

Account for patents, copyrights, trademarks, and goodwill. Apply amortization principles and impairment testing while understanding the unique challenges of intangible asset valuation.