ACCT 2140 - Intermediate Accounting III

4.5 Credits

Students engage in an advanced study of financial accounting. This is the third of three courses covering intermediate financial accounting. Students review and expand knowledge of basic accounting theory as related to current and long-term liabilities and shareholders’ equity. Emphasis is on current liabilities and contingencies, bonds and long-term notes, leases, income taxes, pensions, shareholders’ equity, and earnings per share.

Note: Students should attempt to take ACCT 2120, ACCT 2130, and ACCT 2140 immediately after one another to facilitate understanding and learning. 

Prerequisites: (1) ACCT 2130 with a grade of C or better

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

Identify, classify, value, record and report current liabilities and contingencies.
Identify, classify, value, record and report bonds and long-term notes.
Identify, classify, value, record and report leases.
Analyze, record, and explain the effects of income taxes.
Analyze, record, and report pensions and other post-retirement benefits.
Identify, classify, value, record and report shareholders’ equity.
Explain the accounting for share-based compensation and calculate earnings per share.
Discuss the primary differences between U.S. GAAP and IFRS.
Apply ethical reasoning to accounting scenarios.

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