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ACCT 5004

This course is the first course in the two-course intermediate accounting sequence. It extends, at a more advanced level, the material covered in Introductory Financial Accounting. Concepts and procedures, including current and proposed accounting practices, are studied within the context of specific balance sheet and income statement items with specific emphasis on the assets of an organization including cash, receivables, inventories, tangible and intangible capital assets and investments. In conjunction with Intermediate Accounting II, it enhances the student's understanding of accounting practices and financial reporting. The content of this course complies with ASPE (Accounting Standards for Private Enterprises) and IFRS (International Financial Reporting Standards).