AC 321 - Financial Reporting Theory II

3 credit(s)
A study of financial reporting under US Generally Accepted Accounting Principles (GAAP). Topics include long-term liabilities, leases, revenue recognition, earnings per share, accounting for income taxes, and stock-based compensation. Major differences between US GAAP and International Financial Reporting Standards are addressed. The practical and ethical ramifications of reporting method choice on financial statement informativeness are considered.
Prerequisite(s): A grade of C or better in AC 320.

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