ACNT 2303


Intermediate Accounting, 14th edition, Kieso, Weygandt & Warfield, John Wiley & Sons, Inc.

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Problem-Solving Survival Guide, Volume 1

PREREQUISITE: Completion of ACCT 2302 (or its equivalent) and ACNT 1371 (Business Applications in Accounting) with a grade of C or better. There are no exceptions to this prerequisite except by permission of the instructor. Students who have not completed the prerequisite courses or who cannot document passing a previous course in Intermediate Accounting with a grade of C or better will be dropped from the class.

COURSE DESCRIPTION: Critical analysis of generally accepted accounting principles, concepts, and theory underlying the preparation of financial statements. Emphasis on current theory and practice. An intense study of accounting standards and principles used by accounting professionals for disclosing accounting information related to enterprise assets and liabilities. Examines professional accounting pronouncements for measuring, recording, and reporting of asset and liability values.

PROGRAM OBJECTIVE: Upper level accounting courses are generally designed to satisfy degree/certificate requirements, improve and or increase job skills, and satisfy education requirements for the CPA exam.

CPA CANDIDATES: ACC accounting classes have received the designation of Qualifying Educational Credit for CPA Examination by the Texas State Board of Public Accountancy.  This course qualifies as three of the 30 required hours of upper-level accounting classes. However, for this course to be counted, the student MUST have completed a bachelor's degree PRIOR to taking this course. If this course is completed before a bachelor's degree is awarded, the Texas State Board of Public Accountancy will not accept it. Please review the information at the ACC Accounting Department web site for more information. It is the responsibility of the student to understand and comply with the requirements of the Texas State Board of Public Accountancy.

COURSE OBJECTIVE: The objective of this 3 credit/ 3 lecture hour course is to gain a sound understanding of generally accepted accounting principles governing recognition and measurement of assets and liabilities in financial statements used by parties external to the business enterprise. It represents a significant step in the student’s mastery of the concepts and procedures necessary to further study of financial accounting.


COURSE COMPETENCIES (SCANS) The following competencies will be emphasized:

Responsibility:  Exerts a high level of effort and perseverance towards goal attainment.  Works hard to become excellent at doing tasks by setting high standards, paying attention to details, working well and displaying a high level of concentration even when assigned an unpleasant task.  Displays high standards of attendance, punctuality, enthusiasm, vitality, and optimism in approaching and completing tasks.

Participates as a member of a team: Works cooperatively with others and contributes to group with ideas, suggestions, and effort.

Reasoning: Discovers a rule or principle underlying the relationship between two or more objects and applies it in solving a problem. For example, uses logic to draw conclusions from available information, extracts rules or principles from a set of objects or written text; applies rules and principles to a new situation, or determines which conclusions are correct when given a set of facts and a set of conclusions.




         Demonstrate understanding of concepts underlying the accounting for major asset groups and liabilities

         Analyze accounting problems and apply appropriate accounting procedures for major asset groups and liabilities

         Use Codification to answer basic research questions

         Communicate accounting information clearly, concisely and accurately

         Identify significant differences between U.S. and international accounting standards for major asset groups and liabilities


COURSE POLICIES – These are the general policies established by ACC with regard to all classes. Students should refer to the class syllabus for instructor-specific details related to these policies.

Attendance/Class Participation

Regular and punctual class and laboratory attendance is expected of all students. If attendance or compliance with other course policies is unsatisfactory, the instructor may withdraw students from the class.


Withdrawal Policy

It is the responsibility of each student to ensure that his or her name is removed from the roll should he or she decide to withdraw from the class. The instructor does, however, reserve the right to drop a student should he or she feel it is necessary. If a student decides to withdraw, he or she should also verify that the withdrawal is submitted before the Final Withdrawal Date. The student is also strongly encouraged to retain their copy of the withdrawal form for their records.


Students who enroll for the third or subsequent time in a course taken since Fall, 2002, may be charged a higher tuition rate for that course.


State law permits students to withdraw from no more than six courses during their entire undergraduate career at Texas public colleges or universities. With certain exceptions, all course withdrawals automatically count towards this limit. Details regarding this policy can be found in the ACC college catalog.



An instructor may award a grade of “I” (Incomplete) if a student was unable to complete all of the objectives for the passing grade in a course. An incomplete grade cannot be carried beyond the established date in the following semester. The completion date is determined by the instructor but may not be later than the final deadline for withdrawal in the subsequent semester.


Statement on Scholastic Dishonesty

A student attending ACC assumes responsibility for conduct compatible with the mission of the college as an educational institution. Students have the responsibility to submit coursework that is the result of their own thought, research, or self-expression. Students must follow all instructions given by faculty or designated college representatives when taking examinations, placement assessments, tests, quizzes, and evaluations. Actions constituting scholastic dishonesty include, but are not limited to, plagiarism, cheating, fabrication, collusion, and falsifying documents. Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an “F” in the course and/or expulsion from the college. See the Student Standards of Conduct and Disciplinary Process and other policies at

Student Rights and Responsibilities
Students at the college have the rights accorded by the U.S. Constitution to freedom of speech, peaceful assembly, petition, and association. These rights carry with them the responsibility to accord the same rights to others in the college community and not to interfere with or disrupt the educational process. Opportunity for students to examine and question pertinent data and assumptions of a given discipline, guided by the evidence of scholarly research, is appropriate in a learning environment. This concept is accompanied by an equally demanding concept of responsibility on the part of the student. As willing partners in learning, students must comply with college rules and procedures.
Statement on Students with Disabilities

Each ACC campus offers support services for students with documented disabilities. Students with disabilities who need classroom, academic or other accommodations must request them through the Office for Students with Disabilities (OSD).   Students are encouraged to request accommodations when they register for courses or at least three weeks before the start of the semester, otherwise the provision of accommodations may be delayed.


Students who have received approval for accommodations from OSD for this course must provide the instructor with the ‘Notice of Approved Accommodations’ from OSD before accommodations will be provided.   Arrangements for academic accommodations can only be made after the instructor receives the ‘Notice of Approved Accommodations’ from the student.  


Students with approved accommodations are encouraged to submit the ‘Notice of Approved Accommodations’ to the instructor at the beginning of the semester because a reasonable amount of time may be needed to prepare and arrange for the accommodations.


Additional information about the Office for Students with Disabilities is available at


Safety Statement

Austin Community College is committed to providing a safe and healthy environment for study and work. You are expected to learn and comply with ACC environmental, health and safety procedures and agree to follow ACC safety policies. Additional information on these can be found at Because some health and safety circumstances are beyond our control, we ask that you become familiar with the Emergency Procedures poster and Campus Safety Plan map in each classroom. Additional information about emergency procedures and how to sign up for ACC Emergency Alerts to be notified in the event of a serious emergency can be found at


Please note, you are expected to conduct yourself professionally with respect and courtesy to all. Anyone who thoughtlessly or intentionally jeopardizes the health or safety of another individual will be dismissed from the day’s activity, may be withdrawn from the class, and/or barred from attending future activities.