10706 Intermediate Financial Accounting I

Credits: 6 intermediate credits in Accounting

Prerequisite: Accounting Principles for Students of Accounting

Author: Shlomi Shuv

The course aims to deepen the student’s understanding and knowledge of topics in financial accounting and to provide knowledge concerning central measurement problems in this area. The course discusses solutions to these problems within the framework of accepted accounting rules and accounting standards customary in Israel and throughout the world. It is updated according to International Financial Reporting Standards (IFRS 2010).

Topics: An overview of the profession and its development, description of the entities formulating professional rules; A conceptual framework of accounting and financial reporting – assumptions and principles; The balance sheet; The profit and loss statement; Accounting changes; Expenses; Fixed property; Long term and short term liabilities; Work based on a performance agreement and constructing buildings for sale purposes; Incorporated companies – accounting aspects; Investments.