This first of three classes in intermediate accounting is an extension of topics covered in Accounting and Financial Reporting I and II, with further emphasis on the study and application of generally accepted accounting principles. The student will encounter an in-depth study of accounting concepts and will accurately prepare complex balance sheets, income statements and retained earnings statements including required financial disclosures. Discussions include accounting ethical practices, fair earnings management, the Sarbanes-Oxley Act and international accounting standards. A review of the accounting cycle will cover monthly transaction entries and complex adjusting, correcting, reversing and closing entries. Also includes an in-depth analysis of cash, receivables, inventory valuation and time value of money. Integrated within this class is exposure to sample CPA exam questions and the use of EDGAR or similar databases for conducting accounting research.