Course Descriptions & Syllabi

Course Descriptions & Syllabi

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Note: some or all of the courses in the subjects marked as "Transfer" can be used towards a transfer degree: Associate of Science and Arts or Associate of Engineering Science at DACC. Transferability for specific institutions and majors varies. Consult a counselor for this information.

Areas of Study | | CACC108 syllabus

COURSE TITLE:Intermediate Accounting I
DELIVERY MODE:In-Person, Online

This course consists of continued studies in accounting principles and applications at an intermediate level pertaining to the income statement, balance sheet, and financial reporting for interested external parties. Emphasis on asset valuation, income measurement, and preparation of financial statements.



Upon completion of this course, students will be able to:
  • Describe various organizational forms and business decision makers, identify financial effects of common business activities that affect the balance sheet. Explain how financial statements are used by decision makers. Interpret the balance sheet using the current ratio and an understanding of related concepts.
  • Analyze, record, and summarize the effects of operating transactions, using the accounting equation, journal entries, and T-accounts.
  • Define and explain fraud and internal controls and common principles and limitations of internal control as applied to cash receipts and payments. Perform the key control of reconciling cash to bank statements. Explain the reporting of cash and describe the operations of petty cash systems.
  • Distinguish between service and merchandising operations. Explain the differences between periodic and perpetual inventory systems. Analyze purchase and sales transactions under a perpetual inventory system. Prepare and analyze a merchandiser’s multistep income statement.
  • Describe and explain and report the issues in managing different types of inventory and cost of goods sold. Compute costs using four inventory costing methods. Report inventory at the lower of cost or market. Evaluate inventory management by computing and interpreting the inventory turnover ratio. Compute inventory costs in perpetual systems. Determine the effects of inventory errors.
  • Describe the trade-offs of extending credit. Estimate and report the effects of uncollectible accounts. Compute and report interest on notes receivable. Compute and interpret the receivables turnover ratio. Record bad debts using the direct write-off method.
  • Define, classify, and explain the nature of long-lived assets. Apply the cost principle to the acquisition of long-lived assets. Apply various depreciation methods as economic benefits are used up over time. Explain the effect of asset impairment on the financial statements. Analyze the disposal of long-lived tangible assets. Analyze the acquisition, use, and disposal of long-lived intangible assets. Interpret the fixed asset turnover ratio. Describe factors to consider when comparing companies’ long-lived assets.
  • Explain the role of liabilities in financing a business and explain how to account for common types of current liabilities. They will be able to analyze and record bond liability transactions and account for contingent liabilities, calculate and interpret the debt-to-assets ratio and times interest earned ratio. Use straight-line bond amortization and effective-interest bond amortization.

  1. Financial Accounting and Accounting Standards
  2. Conceptual Framework Underlying Financial Accounting
  3. The Accounting Information System
  4. Income Statement and Related Information
  5. Balance Sheet and Statement of Cash Flows
  6. Accounting and the Time Value of Money
  7. Cash and Receivables
  8. Valuation of Inventories: A Cost Basis Approach
  9. Inventories: Additional Valuation Issues
  10. Acquisition and Disposition of Property, Plant and Equipment
  11. Depreciation, Impairments, and Depletion
  12. Intangible Assets

Intermediate Accounting 9th ed. by Spiceland/Sepel/Nelson/Thomas, McGraw-Hill ISBN: 978-1-259-72266-0

See bookstore website for current book(s) at

The following grading scale will be used for the final course grades. However, the Instructor reserves the right to vary the scale if necessary.

Assignments points are as follows:
Interactive5 points
Discussions15 points
Learnsmart15 points
Problems10 points
Tests100 points

90-100% = A
80-89% = B
70-79% = C
60-69% = D
00-59% = F


Membership in the DACC community brings both rights and responsibility. As a student at DACC, you are expected to exhibit conduct compatible with the educational mission of the College. Academic dishonesty, including but not limited to, cheating and plagiarism, is not tolerated. A DACC student is also required to abide by the acceptable use policies of copyright and peer-to-peer file sharing. It is the student’s responsibility to become familiar with and adhere to the Student Code of Conduct as contained in the DACC Student Handbook. The Student Handbook is available in the Information Office in Vermilion Hall and online at:

Any student who feels s/he may need an accommodation based on the impact of a disability should contact the Testing & Academic Services Center at 217-443-8708 (TTY 217-443-8701) or stop by Cannon Hall Room 103. Please speak with your instructor privately to discuss your specific accommodation needs in this course.

Fall 2019

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