What Is Intermediate Accounting?

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    Features

    • Intermediate accounting introduces students to a deeper and broader level of accounting theory. The typical intermediate accounting format requires two semesters of intense conceptual course work.

    Topics

    • Topics found in intermediate accounting include the conceptual framework of Generally Accepted Accounting Principles (GAAP), financial ratios analysis, equity accounting, investment strategies and financial statement preparation.

    Significance

    • Because intermediate accounting courses represent the beginning of major accounting theory concepts, students who fail to complete the course often change their majors because they are unable to finish the degree in four years.

    Considerations

    • Students looking to begin a career in public accounting should carefully choose the colleges where they earn their accounting degrees. Certain colleges and universities have better accounting programs, equipping their students with the education needed to pass the Certified Public Accountant (CPA) exam.

    Expert Insight

    • Several accounting websites, such as AccountingCoach.com or CliffsNotes.com, offer students various resources on learning intermediate accounting concepts. These resources are useful because traditional textbooks may be difficult for students to use during the accounting course.

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