ACC 221 - Intermediate Accounting I

1. Calculate the revenue to be recognized under long-term contracts.
2. Calculate the present value of an ordinary annuity and annuity due.
3. Estimate the allowance for uncollectible accounts.
4. Determine ending inventory using the dollar-value LIFO inventory method.
5. Determine periodic depreciation using both time-based and activity-based methods of depreciation and account for dispositions.
6. Account for long-term notes.
7. Account for operating, financing, and sales-type leases.
8. Analyze and record the issuance of stock when sold for cash or noncash consideration.
9. Prepare a statement of cash flows.

1. Environment and Theoretical Structure of Financial Accounting
   1. Financial accounting environment
   2. Conceptual framework
2. Review of the Accounting Process
3. The Balance Sheet and Financial Disclosures
   1. Balance Sheet
   2. Financial disclosures
   3. Risk analysis
4. The Income Statement, Comprehensive Income
5. Revenue Recognition
   1. Introduction to revenue recognition
   2. Special topics in revenue recognition
   3. Accounting for long-term contracts
6. Time Value of Money Concepts
   1. Basic time value concepts
   2. Basic annuities (present Value and future Value)
7. Cash and Receivables
   1. Cash and cash equivalents
   2. Current receivables
8. Inventories: Measurement
   1. Recording and measuring inventory
   2. Methods of simplifying
9. Inventories: Additional Issues
   1. Subsequent measurement of inventory
   2. Inventory estimate techniques
   3. Dollar-Value LIFO retail
10. Property, Plant, and Equipment and Intangible Assets: Acquisition
    1. Valuation at acquisition
    2. Noncash acquisitions
11. Property, Plant, and Equipment and Intangible Assets: Utilization and Disposition
    1. Depreciation, depletion, and amortization
    2. Additional issues
    3. Subsequent expenditures
12. Current Liabilities and Contingencies
13. Bonds and Long-Term Notes
    1. Bonds
    2. Long-term notes payable
14. Leases
    1. Accounting by the lessor and lessee
    2. Uncertainty in lease transactions
15. Stockholders’ Equity
    1. The nature of stockholders’ equity
    2. Paid-in capital
    3. Retained earnings
16. Statement of Cash Flow
    1. The content and value of the statement of cash flows
    2. Preparing the SCF: indirect method of reporting cash flows from operating activities