D103 Intermediate Accounting I ACCT 3611

D103 Intermediate Accounting I ACCT 3611 is a course that is designed to provide students with an in-depth understanding of accounting principles and their applications. This course is typically offered in the second or third year of undergraduate accounting programs and is a prerequisite for advanced accounting courses. In this article, we will discuss the content, objectives, and key topics covered in D103 Intermediate Accounting I ACCT 3611.

Course Content

The content of D103 Intermediate Accounting I ACCT 3611 is focused on the theoretical and practical aspects of financial accounting. The course aims to provide students with a deep understanding of the principles and concepts that underlie accounting, as well as their applications in various business settings. The course is typically divided into several units or modules, each of which covers a specific topic or area of accounting.

Objectives

The main objective of D103 Intermediate Accounting I ACCT 3611 is to equip students with the knowledge and skills necessary to prepare and analyze financial statements. Students are expected to gain an understanding of the accounting principles and concepts that underlie financial reporting, as well as the practical skills necessary to apply these principles in real-world situations. In addition, the course aims to develop students’ critical thinking skills, problem-solving skills, and analytical skills, all of which are essential for success in the accounting profession.

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Key Topics Covered

D103 Intermediate Accounting I ACCT 3611 covers a wide range of topics related to financial accounting. Some of the key topics covered in this course include:

1. Financial Reporting and the Accounting Cycle. The first module of the course typically focuses on the accounting cycle and financial reporting. Students will learn about the different stages of the accounting cycle, including recording transactions, posting to ledgers, preparing trial balances, adjusting entries, and preparing financial statements. They will also learn about the different types of financial statements and their components, such as the balance sheet, income statement, and statement of cash flows.
2. Income Measurement and Revenue Recognition. The second module of the course focuses on income measurement and revenue recognition. Students will learn about the different methods used to measure income, such as the accrual basis and cash basis of accounting. They will also learn about the criteria for recognizing revenue and the different methods used to account for revenue, such as the percentage of completion method and the completed contract method.
3. Inventory Valuation and Cost of Goods Sold .The third module of the course typically covers inventory valuation and cost of goods sold. Students will learn about the different methods used to value inventory, such as the FIFO method, LIFO method, and weighted average method. They will also learn about the calculation and accounting for cost of goods sold.
4. Property, Plant, and Equipment (PP&E). The fourth module of the course focuses on property, plant, and equipment (PP&E). Students will learn about the different types of PP&E, such as land, buildings, and equipment. They will also learn about the different methods used to account for PP&E, such as the cost model and the revaluation model.
5. Intangible Assets and Goodwill. The fifth module of the course typically covers intangible assets and goodwill. Students will learn about the different types of intangible assets, such as patents, trademarks, and copyrights. They will also learn about the accounting for goodwill, including impairment testing.
6. Liabilities and Equity. The sixth module of the course focuses on liabilities and equity. Students will learn about the different types of liabilities, such as current and long-term liabilities. They will also learn about equity, including the different types of equity, such as common stock and retained earnings.
7. Financial Statement Analysis. The final module of the course typically covers financial statement analysis. Students will learn about the different techniques used to analyze financial statements, such as ratio analysis and trend analysis. They will also learn about the different types of financial ratios, such as liquidity ratios, profitability ratios, and solvency ratios. Finally, students will learn about the limitations of financial statement analysis and the importance of using multiple methods to evaluate a company’s financial performance.

Teaching Methods

D103 Intermediate Accounting I ACCT 3611 is typically taught using a combination of lectures, readings, case studies, and group assignments. Lectures are used to introduce key concepts and principles, while readings are used to reinforce understanding and provide examples of real-world applications. Case studies and group assignments are used to allow students to apply their knowledge in practice and develop their critical thinking and problem-solving skills.

Assessment Methods

Assessment in D103 Intermediate Accounting I ACCT 3611 typically consists of a combination of exams, quizzes, case studies, and group assignments. Exams and quizzes are used to test students’ knowledge of key concepts and principles, while case studies and group assignments are used to assess students’ ability to apply their knowledge in practice and work collaboratively with others. The weighting of each assessment method varies depending on the instructor and the course design.

Conclusion

D103 Intermediate Accounting I ACCT 3611 is an important course for undergraduate accounting students. The course provides students with a deep understanding of the principles and concepts that underlie financial reporting, as well as the practical skills necessary to apply these principles in real-world situations. By the end of the course, students should be able to prepare and analyze financial statements, apply accounting principles and concepts to real-world scenarios, and evaluate a company’s financial performance using various techniques. The course is typically taught using a combination of lectures, readings, case studies, and group assignments, and assessment is done using a combination of exams, quizzes, case studies, and group assignments. Overall, D103 Intermediate Accounting I ACCT 3611 is an essential course for any undergraduate accounting student looking to pursue a career in the field.