Intermediate Accounting Course

About this course

These lectures cover topics in Intermediate Accounting I, II, and III courses in an undergraduate accounting program. Also, these lectures cover 70 to 75% of the material covered on Financial Accounting and Reporting FAR section of the CPA exam.  Topics covered include assets, liabilities, equity, revenue recognition, accounting for income taxes, accounting for pension plans, accounting for leases,  time value of money, earnings per share, preparation of the cash flow statement, and many others.

Click on chapter to view the related recordings:

  • Chapter 1

    Financial Accounting Standards (2 lessons)
    Topics covered
    SEC, Role of AICPA, FASB, GAAP, Intermediate Accounting.

  • Chapter 2

    The Conceptual Framework for Financial Reporting (3 lessons)
    Topics covered
    Conceptual Framework; Elements of Financial Statements; Accounting Assumptions and Principles; Intermediate Accounting.

  • Chapter 3

    The Accounting Information System (12 lessons)
    Topics covered
    Basic Accounting Terms and Concepts; Adjusting Entries; Journalizing; Posting to Trial Balance; Closing Entries; Preparing Financial Statements; Converting from Cash Basis to Accrual Basis Accounting; Intermediate Accounting.

  • Chapter 4

    Income Statement, Statement of Retained Earnings, and Other Comprehensive Income (9 lessons)
    Topics Covered
    Uses and Limitations of Income Statement; Content and Format of Income Statement; Discontinued Operation; Unusual Gains and Losses; Basic Earnings per Share; Changes in Accounting Principles; Changes in Accounting Estimates; Statement of Retained Earnings; Other Comprehensive Income; Intermediate Accounting.

  • Chapter 5

    Balance Sheet and Statement of Cash Flows (2 lessons)
    Topics Covered
    Balance Sheet and Statement of Cash Flows; Intermediate Accounting.

  • Chapter 6

    Time Value of Money (5 lessons)
    Topics Covered
    Time Value of Money; Present Value of a Single Amount; Future Value of a Single Amount; Present Value of Annuity; Future Value of Annuity; Present Value of Annuity Due; Compute the Price of Bonds; Intermediate Accounting.

  • Chapter 7

    Cash and Receivables (10 lessons)
    Topics Covered
    Cash and Cash Equivalents; Trade Receivables; Notes Receivable; Non-Trade Receivables; Recognition of Receivables; Valuation of Receivables; Notes Receivable; Fair Value Option of Notes Receivable; Pledge Receivables; Selling Receivables; Cash Internal Controls; Bank Reconciliation; Intermediate Accounting.

  • Chapter 8

    Inventory Valuation: Cost-Basis Approach (11 lessons)
    Topics Covered
    Inventory and Cost of Goods Sold; Inventory Errors; Product Cost and Period Cost; Cost Flow Assumptions; FIFO, LIFO, Weighted Average, Specific Identification; LIFO Reserve; LIFO Liquidation; Dollar Value LIFO; Periodic Inventory; Intermediate Accounting.

  • Chapter 9

    Inventories: Additional Valuation Issues (7 lessons)
    Topics Covered
    Lower of Cost or Market (LCM); Lump Sum Purchase; Purchase Commitment; Estimating Inventory using Gross Profit Method; Retail Inventory Method; Intermediate Accounting.

  • Chapter 10

    Acquisition and Disposition of Property, Plant, and Equipment (14 lessons)
    Topics covered
    Cost of Property, Plant and Equipment (PP&E); Interest Capitalization; Cost Subsequent to Acquisition; Valuation of Property, Plant and Equipment; Exchange of Nonmonetary Assets; Disposition of Property, Plant and Equipment; Intermediate Accounting.

  • Chapter 11

    Depreciation, Impairments, and Depletion (11 lessons)
    Topics covered
    Depreciation Expense; Straight-Line Method; Activity Method; Sum-of-the-Years’-Digits; Double-Declining Balance Method; Impairment Losses; Depletion; Intermediate Accounting.

  • Chapter 12

    Intangible Assets (9 lessons)
    Topics covered
    Intangibles Assets; Goodwill Calculation; Goodwill Impairment; Accounting for Computer Software Costs; Initial Operating Losses and Advertising Costs; Start-Up Costs; Research and Development Costs (R&D); Intermediate Accounting.

  • Chapter 13

    Current Liabilities and Contingencies (11 lessons)
    Topics covered
    Current Liabilities; Short-Term Obligations Expected to be Refinanced; Loss Contingencies; Payroll Tax Liabilities; Unearned Revenues; Premium Liability; Asset Retirement Obligation (ARO); Warranty Expense; Intermediate Accounting.

  • Chapter 14

    Long-Term Liabilities (17 lessons)
    Topics covered
    Introduction to Bonds; Bond Issue at Par; Bond Issue at Premium; Bond Issue at Discount; Bond Retirement and Extinguishment of Debt; Zero-Interest-Bearing Notes; Interest-Bearing Notes; Bond Amortization using Straight-Line Method; Bond Amortization using Effective-Interest Rate Method; Long-Term Notes Payable; Fair Value Option for Financial Assets and Liabilities; Troubled-Debt Restructuring; Settlement of Debt; Intermediate Accounting.

  • Chapter 15

    Stockholders’ Equity (18 lessons)
    Topics Covered
    Corporate Capital Structure; Characteristics of a Corporation; Accounting for Preferred Stocks; Accounting for Treasury Stock; Cash and Property Dividend; Stock Dividend; Book Value Per Share; Equity Ratio; Dividend Preference; Intermediate Accounting.

  • Chapter 16

    Dilutive Securities and Earnings per Share (EPS) (21 lessons)
    Topics covered
    Convertible Securities; Convertible Preferred Stock; Stock Warrant Issued with Other Securities; Accounting for Stock Options; Basic Earnings Per Share (EPS); Complex Capital Structure; What-If (If-Converted) Method; Complex Capital Structure; Treasury Method; Intermediate Accounting.

  • Chapter 17

    Accounting for Investments (17 lessons)
    Topics covered
    Trading Securities; Available-for-Sale Securities; Held-to-Maturity Securities; Investment in Debt Securities; Investment in Equity Securities; Fair Value Method; Equity Method; Available-for-Sale Debt Securities; Available-for-Sale Equity Securities; Impairment of Value of Debt Investment; Investment Reclassification; Accounting for Derivative Instruments; Accounting for Speculation; Fair Value Hedge; Cash Flow Hedge; Intermediate Accounting.

  • Chapter 18

    Revenue Recognition (18 lessons)
    Topics Covered
    New Revenue Recognition Standard; Five-Step Process for Revenue Recognition: Identify the Contract, Identify Separate Performance Obligations, Determine Transaction Price, Allocate to Separate Performance Obligations, Timing of  Revenue Recognition; Sales Returns and Allowances; Repurchase Agreements; Bill-and-Hold Arrangements; Principal-Agent Relationships; Consignments; Warranties and Upfront Fees; Contract Assets and Liabilities; Contract Modifications; Percentage-of-Completion Method; Completed-Contract Method; Installment Sales; Cost-Recovery Method; Revenue Recognition for Franchises;  Intermediate Accounting.

  • Chapter 19

    Accounting for Income Taxes (9 lessons)
    Topics Covered
    Accounting for Income Taxes; Deferred Tax Liability (DTL); Deferred Tax Asset (DTA); Deferred Tax Asset–Valuation Allowance; Deferred Tax Asset–Permanent and Temporary Differences; Net Operating Losses (NOL); NOL Carryback; NOL Carryforward; Intermediate Accounting.

  • Chapter 20

    Accounting for Pensions and Postretirement Benefits (13 lessons)
    Topics Covered
    Accounting for Pensions; Pension Expense Components; Pension Benefit Obligation (PBO); Using a Pension Worksheet; Prior Service Cost Amortization; Pension Worksheet Example; Corridor Amortization; Pension Gain and Loss; Pension Liability; Other Comprehensive Income (OCI); Pension Expense Practice Questions CPA Exam FAR; Pension Plan Funded Status; Defined Contribution/Defined Benefit Pension Plan; Defined Benefit Pension Plan; Pension Expenses CPA Task-Based Simulation (TBS); Intermediate Accounting.

  • Chapter 21

    Accounting for Leases (15 lessons)
    Topics covered
    (New FASB Rules) Accounting for Operating Leases; Operating Lease Accounting–Lessee & Lessor; Accounting for Leases: Bargain Purchase Option/Lease Prepayment; Residual Value for Leases–Guaranteed and Unguaranteed; Accounting for Leases: Sales-Leaseback; Accounting for Finance/Sales-Type Lease: Lessee & Lessor Perspective; Lease Classification; CPA Exam Practice Questions; Lessee Accounting: Initial Measurement; Lessee Accounting: Subsequent Measurement; Lessor Accounting for Sales-Type Leases; Intermediate Accounting.

  • Chapter 22

    Accounting Changes and Error Analysis (5 lessons)
    Topics Covered
    Changes in Accounting Principles; Changes in Accounting Estimates; Changes in Reporting Entity;  Accounting for Correction of Errors; Accounting Error Analysis; Intermediate Accounting.

  • Chapter 23

    Statement of Cash Flow (4 lessons)
    Topics Covered
    Overview & Purpose of Statement of Cash Flow; Preparing Statement of Cash Flows using Indirect Method; Preparing Statement of Cash Flow using Direct Method; Cash Flows Special Issues; Intermediate Accounting.

  • Chapter 24

    Full Disclosure Principle in Financial Reporting (6 lessons)
    Topics covered
    Full Disclosure Principle; Related-Parties Disclosures; Post-Balance Sheet Events (Subsequent Events); Segment Reporting; Quantitative Materiality Test; Interim Financial Reporting; Auditor’s Report; Management’s Discussion and Analysis (MD &A); Intermediate Accounting.

Financial Accounting and Reporting (FAR) section of the CPA exam