Delaware County Community College, Serving Delaware and Chester Counties

ACC 252 - Intermediate Accounting II

Course Description

This course is a continuation of Intermediate Accounting I. Intermediate problems pertaining to current and long-term liabilities, stockholders' equity, pensions, financial statement analysis, price-level accounting, and cash flow reporting are presented. Understanding of the concepts covered in this course is crucial to successful completion of all subsequent financial accounting and auditing courses in the accounting sequence.

Upon successful completion of this course, students should be able to:

Define, classify and measure all types of liabilities.
Explain various types of long-term debt securities and the procedures involved in accounting for bonds and long-term notes.
Apply appropriate accounting procedures to the issuance of capital stock under a variety of different situations.
Identify and explain the accounting significance of transactions and events that cause the balance in the retained earnings account to change.
Calculate primary and fully diluted earnings per share under a variety of different circumstances.
Discuss the economic, accounting and practical issues involved in revenue recognition.
Explain and apply appropriate accounting procedures for intraperiod and interperiod income tax allocation.
Apply appropriate procedures to account for operating leases and capital leases by the leasee and leasor.
Identify and describe the objectives and limitations of the cash flows statement.
Discuss the objectives and the methods of financial statement analysis.

Credit Hours: 3
Lecture Hours: 3

Course Prerequisites: ACC 251