Read the section on Internal Control pg and be prepared to answer some multiple choice questions over this. Pay specific attention to the following:
If it's lower division and you aced Financial, then "intermediate" will not be a problem. If it's upper division, you should still be OK. You'll look at a company's cash and securities; determine how they need to be presented to conform to SFAS 95; decide how to value the securities mark-to-market, historical cost ; learn how to do a basic cash reconciliation.
Just keep the basic accounting principles in mind, and intermediate is no more difficult than lower division stuff. It's all the same thing, just with more specific rules and big-sounding names.
Accountants, like any profession, like to make up wordy regulations and scary sounding terminology to make people think we are magicians. It's only a class. You might as well see if you really like the profession if you're going to major in it. BTW, I'm an accountant. Oh, and BTW, if anyone says Accounting is a science, it's not.
It's a social science just like history and anthropology. It's deals with human interactions.
Unlike real sciences, a the "laws" of accounting are man-made, and not "laws of nature. Whether you go into tax or audit, most of your day is spent trying to figure out what people want to do with their businesses and how they want to operate their businesses.
You can't find that out just by looking at spreadsheets. Good luck to you. Accounting can be a fun profession if you make it work for you.
January 20, Posts:Intermediate Accounting I. ACCT statement to see if the company has made a profit in the past. Intermediate Accounting III , OR, Advanced Accounting, Eleventh Edition, by Hoyle, Schaefer, & .
Study Chapter 13 Intermediate II Pt 2 Flashcards at ProProfs - test What accounting recognition, if any, should be accorded this situation?
A) No recognition B) Note disclosure only C) Operating expense of $, and liability of $, D) Appropriation of retained earnings of $, For the intermediate accounting course. Help your students think like accountants–from the first day of class, throughout their careers.
Thinking like an accountant isn’t just rote memorization of accounting . View Notes - Intermediate Accounting 2 Chapter 5 from BUSINESS Intermedia at Beaver County Ctc.
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1. a company does not have the ability to offset excess assets of one plan against the underfunded. Book Description.
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