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Apr 19, 2024
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ACCT 123 - Financial Accounting Theory and Practice ISemester Hours: 3
Fall, Spring
Study of accounting theory and procedures and the special problems that
arise in the application of underlying accounting concepts to financial
accounting. Focus on the application of accounting information as a
basis for decisions by management, stockholders, creditors, and other
users of financial statements and accounting reports. Conflicts and
shortcomings that exist within the traditional structure of accounting
theory, including ethical aspects, are discussed in conjunction with
Opinions of the Accounting Principles Board, and Statements of the
Financial Accounting Standards Board. International accounting
differences are also considered.
Prerequisite(s)/Course Notes:
Corequisite: FIN 101 or permission of the department chairperson;
Prerequisites: ACCT 2 or 20 or 102, junior class standing or above.
(Formerly ACCT 123 & 124.)
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