ACCT 752 - CPA Prep - Financial (FAR)

3 Credits
This course is designed to prepare the student for the Financial Accounting and Reporting section of the four part CPA exam. Topics include understanding of the financial reporting framework used by business enterprises, not-for-profit organizations, and governmental entities; comparisons between GAAP and IFRS; account classification; GL entries; reconciliation of GL to subsidiary ledgers; account reconciliation and analysis; consolidating and eliminating entries; financial statement preparation and analysis; financial calculations, ratios. The student will gain practice while applying judgment in evaluating assumptions and methods underlying estimates, and produce required financial statement filings in order to meet regulatory or SEC reporting requirements.

Grade Note(s): A grade of C or better is required on the final assessment in order to earn a passing grade in this course.
Course Learning Outcomes:
1. Create financial statements and reports for profit, not-for-profit, and governmental entities.
2. Evaluate and apply Generally Accepted Accounting Principles GAAP to various for profit, not-for-profit, and governmental accounting transactions, problems, and scenarios.
3. Evaluate and apply International Financial Reporting Standards IFRS where appropriate.
4. Apply financial accounting and reporting concepts.