Apr 23, 2024  
2023-2024 College Catalog and Student Handbook 
2023-2024 College Catalog and Student Handbook
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ACCT 2030 - Intermediate Accounting I

Academic Division: Business, Industry and Technology
Academic Discipline: Accounting
Assistant Dean: Brooke Miller, M.B.A.
3 Credit(s)
An analysis of current accounting treatments of financial statement items. Emphasis is given to an evaluation of the theory underlying modern accounting practices, as well as to the comprehensive study of the accounting techniques involved. UG
3 Lecture Hour(s);
Required Prerequisite Course(s): Take ACCT 1010  

College Wide Outcomes
College-Wide Learning Outcomes Assessments - - How it is met & When it is met
Communication – Written  
Communication – Speech  
Intercultural Knowledge and Competence  
Critical Thinking  
Information Literacy  
Quantitative Literacy

Revenue Recognition scenarios – Quantitative Literacy VALUE Rubric – weeks 13-15

Student Learning Outcomes for Course
Outcomes Assessments – How it is met & When it is met

1. Summarize the objectives of financial reporting and explain the meaning of generally accepted accounting principles (GAAP).

Graded homework- week 5 and

exam – Weeks 1 - 3

2. Analyze the usefulness of a conceptual framework and explain the basic elements of financial statements along with the basic assumptions and constraints considered in financial reporting.

Graded homework – week 5 and

exam – Weeks 1 - 3

3. Apply basic accounting terminology and its use in the business community and demonstrate the various steps in the accounting cycle and double-entry rules.

Graded homework – week 5 and

exam – Weeks 4 – 6

4. Evaluate the uses and limitations of a balance sheet and prepare classified balance sheets.

Graded homework – week 8 and

exam – Weeks 7-8

5. Evaluate uses and limitations of an income statement and prepare income statements in different formats. The student will also be able to prepare a retained earnings statement.

Graded homework – week 10 and

exam – Weeks –8-10

6. Evaluate the statement of cash flows, including its content and formats, and prepare a statement of cash flows.

Graded homework – week 15 and

exam – Weeks –11-12

7. Analyze and apply the revenue recognition principle. Exam – Weeks –13-14

8. Analyze cash and cash equivalents, including how they are reported.

Exam – Weeks –15-16

9. Analyze the accounting issues related to the recognition, valuation, and reporting of receivables.

Exam – Weeks –15-16

Standard Grading Scale
93-100      A

90 - 92      A-

87- 89       B+

83 - 86      B

80 -82       B-

77- 79       C+

73 - 76      C

70 -72       C-

67- 69       D+

63 - 66      D

60 -62       D-

00- 59       F

Statement on Diversity
North Central State College believes that every student is a valued and equal member of the community.*  Every student brings different experiences to the College, and all are important in enriching academic life and developing greater understanding and appreciation of one another. Therefore, NC State College creates an inclusive culture in which students feel comfortable sharing their experiences. Discrimination and prejudice have no place on the campus, and the College takes any complaint in this regard seriously. Students encountering aspects of the instruction that result in barriers to their sense of being included and respected should contact the instructor, assistant dean, or dean without fear of reprisal. 

*Inclusive of race, color, religion, gender, gender identity or expression, national origin (ancestry), military status (past, present or future), disability, age (40 years or older), status as a parent during pregnancy and immediately after the birth of a child, status as a parent of a young child, status as a foster parent, genetic information, or sexual orientation, 

Standard NCSC Course Policies
Important information regarding College Procedures and Policies can be found on the syllabus supplement located at this link



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