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ACCT 311 Intermediate Accounting I

This course is the first in a two course sequence (Intermediate Accounting I and Intermediate Accounting II) that provides for the preparation and understanding of financial information. Topics include accounting theory and practice, the conceptual framework of United States (U.S.) generally accepted accounting principles (GAAP), recognition of economic transactions, the preparation and analysis of financial statements and the related disclosures. Intermediate Accounting I focuses on the role of accounting as an information system and the measurement, recognition, presentation, and disclosure of economic transactions focusing on the following: basic financial statements, time value of money, cash and receivables, inventories, property, plant, and equipment, depreciation and impairment, and current liabilities and contingencies.

Prerequisites

Special information

Note: Download the syllabus from the course D2L site and do the assignment for week one.
4 Undergraduate credits

Effective August 22, 2015 to present

Learning outcomes

General

  • Determine what economic events require recognition in financial statements using financial accounting theory in accordance with U.S. Generally Accepted Accounting Principles (GAAP).
  • Measure economic events using suitable valuation methods including consideration of United States and International standards.
  • Demonstrate the ability to record and disclose complex financial events in accordance with U.S. GAAP for assets, revenues, expenses, gains and losses.
  • Prepare balance sheets, income and equity statements using GAAP standards and procedures.
  • Analyze information in financial reports for its value in stakeholder decision-making.
  • Demonstrate understanding of ethical considerations in preparing and reporting accounting information.
  • Create communications, both oral and written, to convey accounting information in a cross-functional decision-making environment.

Summer 2025

Section Title Instructor books eservices
50 Intermediate Accounting I Olarewaju, Odunayo Magret Books for ACCT-311-50 Summer 2025 Course details for ACCT-311-50 Summer 2025
51 Intermediate Accounting I Olarewaju, Odunayo Magret Books for ACCT-311-51 Summer 2025 Course details for ACCT-311-51 Summer 2025

Fall 2025

Section Title Instructor books eservices
01 Intermediate Accounting I Wilson, Joel R Books for ACCT-311-01 Fall 2025 Course details for ACCT-311-01 Fall 2025
50 Intermediate Accounting I Olarewaju, Odunayo Magret Books for ACCT-311-50 Fall 2025 Course details for ACCT-311-50 Fall 2025

Spring 2026

Section Title Instructor books eservices
01 Intermediate Accounting I Wilson, Joel R Books for ACCT-311-01 Spring 2026 Course details for ACCT-311-01 Spring 2026
50 Intermediate Accounting I Olarewaju, Odunayo Magret Books for ACCT-311-50 Spring 2026 Course details for ACCT-311-50 Spring 2026