ACC 231 : Intermediate Accounting 2

Department

Accounting Department

Academic Program

Bachelor in Accounting

Type

Compulsory

Credits

03

Prerequisite

ACC 230

Overview

Familiarizing the student with the concept of long-term investments and the difference between the different methods of accounting for them, introducing the student to the preparation of consolidated statements, long-term and short-term obligations, the rights of project owners, the accounting treatment of their various items, accounting for errors in previous years and changes in the application of accounting policies.

Intended learning outcomes

The student develops knowledge of the accounting treatment of investments after their acquisition, understanding the process of preparing consolidated financial statements, knowledge of procedures for dealing with types of short and long-term liabilities, understanding the impact of correcting previous years’ errors, and changes in applying accounting policies to the previous and current periods.

Teaching and learning methods

Lectures, discussions, exercises, meals, research papers and exams

Methods of assessments

Participate, solve exercises and prepare papers during lectures

Midterm exam first week six

The second midterm exam, the eleventh week

Sixteenth week final exam

Scientific subject	Number of hours per	week
Long-term investments - stocks (method: cost, equity, consolidated financial statements).	12	4
The time value of money	3	1
Long-term investments - bonds.	6	2
current liabilities.	3	1
non-current liabilities.	6	2
The rights of the project owners.	3	1
Accounting for errors in previous years, and changes in the application of accounting policies.	6	2

Accounting for financial companies (ACC 430)
Studies in accounting (ACC 530)
Accounting for Islamic banks (ACC 439)
international accounting (ACC 438)
Contracting projects accounting (ACC 437)
Revision2 (ACC 434)
Additional manufacturing cost measurement2 (ACC 433)
Review I (ACC 432)
accounting administration (ACC 431)
Public fund accounting (ACC 339)
Accounting for banks and insurance companies (ACC 337)
Oil accounting (ACC 336)
Analysis of financial statements (ACC338)
Additional manufacturing cost measurement1 (ACC 333)
Accounting for service projects (ACC 332)
Corporate Accounting (ACC 330)
Planing peincipals (PLA170)
Accounting Principles I (ACC 130)
Principles of Accounting II (ACC131)
Social responsibility accounting (ACC 436)
Accounting systems design (ACC 435)
Accounting departments and branches (ACC 331)
Intermediate Accounting 2 (ACC 231)
Tax accounting (ACC 335)