Intermediate Financial Accounting 1

Description

This class broadly covers the fundamentals of financial accounting for students who already understand basic bookkeeping journal entries. Specifically, it covers concepts of assets, liabilities, net assets, profit and loss, and cash flow. Understanding is checked using quizzes from the multiple-choice exam for U.S. certified public accountants. • Understand the role of financial accounting and financial statements. • Understand the theoretical conceptual framework of accounting. • Prepare basic financial statements and understand their purpose. • Be able to answer basic questions from the US CPA exam.