ACC 221 — Intermediate Accounting I
Prerequisite: ACC 100 or consent of department A continuation of the traditional financial accounting topics covered in ACC 100 and 102, but in greater depth. Review of the accounting process. The balance sheet, statements of income, retained earnings, and cash flows are analyzed as to the com- ponents of each, usefulness of the statements, and limitations of their use. The nature and composition of cash, receivables and inventories are presented together with the valuation problems pertaining to each.