Course Description

An intensive study and application of Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS) for asset valuation, income measurement, and financial statement presentation for business organizations, including the processes through which GAAP and IAS have evolved. The emphasis in this course is on the basic financial statements and related footnotes, the time value of money, the valuation and presentation of assets, current liabilities, and related income statement accounts, and other special accounting topics. International accounting standards (IAS) will be presented parallel to GAAP due to the convergence of both sets of standards within the next five years. Suitable for CPA Exam preparation.