Northeast Wisconsin Technical College
10-101-131 020257 Accounting-Intermediate
Outline of Instruction

Course Information
Description10-101-131 ACCOUNTING-INTERMEDIATE ...understand income statements, balance sheets, cash flow statements, cash and receivables, inventories and cost of goods sold, noncurrent operating assets, earnings per share, accounting changes and corrections, financial statement analysis. (Prerequisite: 10-101-120, Accounting 2)
Total Credits4
Prior Learning Assessments
None
Course Competencies
  1. Sequence the accounting cycle.
  2. Prepare the classified balance sheet and notes to the financial statements.
  3. Determine the revenues and expenses to be reported on the Income Statement.
  4. Generate a Statement of Cash Flows.
  5. Explain the purpose of earnings management
  6. Utilize the revenue/receivable/cash cycle procedures.
  7. Determine the types of inventory, who owns the inventory and the total cost of inventory.
  8. Calculate inventory other than cost.
  9. Analyze of financial statements using financial ratios.
  10. Create the proper journal entries for accounting changes and accounting errors.
  11. Explain the acquisition of investments in noncurrent operating assets.
  12. Explain the utilization and retirement of noncurrent operating assets.