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This is a study guide for Intermediate Accounting. It includes all the chapters and material for the full year of Intermediate Accounting. This includes Intermediate Accounting I and Intermediate Accounting II. Intermediate Accounting Chapters See all the Intermediate Accounting chapters Chapter 1: Financial Accounting Standards Financial accounting is the preparation of financial reports for an entity. These financial reports are used by both internal and external parties. The common set of rules and procedures in the United States is called generally accepted accounting principles (GAAP). These are the rules for and reporting the financial information of a business entity. The Securities and Exchange Commission (SEC) has the legal authority to set accounting standards in the United States. The SEC allows the Financial Accounting Standards Board (FASB) to produce these standards that establish GAAP. https://youtu.be/YFetvQJi3Xw See the article Financial Accounting Standards. Chapter 2: Conceptual Framework for Financial Reporting A conceptual framework in accounting is important because rule-making should relate to an established body of concepts. The FASB’s conceptual framework is developed in a series of concept statements. The conceptual framework has 3 levels: Level 1: Objective of financial reporting, the “why” or purpose of accounting.Level 2: Qualitative characteristics and the elements of financial statements.Level 3: Financial reporting concepts, the “how” or implementation. https://youtu.be/GrXXwzlu0_4 See the article Conceptual Framework for Financial Reporting. Chapter 3: The Accounting Information System The accounting information system records transactions and then summarizes the financial information to interested parties. Accounting is the language of business. To understand the accounting process, basic terms need to be learned. This chapter reviews debits and credits using the DEALER method. Also, how debits and credits are used in journal entries. https://youtu.be/BK4MrEVqTNE The accounting information system includes the 9 steps in the accounting cycle. See the article Accounting Information System. Chapter 4: Income Statement https://youtu.be/_0Jp3XyV--c Chapter 5: Balance Sheet https://youtu.be/2W_bSijMeWM Chapter 6: Time Value of Money https://youtu.be/BhR0yuintvc Chapter 7: Cash and Receivables Bank Reconciliation https://youtu.be/Pr2F-_qeMqQ Accounting for Bad Debts https://youtu.be/JbQq-SstvpM Chapter 8: Valuation of Inventories: A Cost-Basis Approach Chapter 9: Inventories: Additional Valuation Issues Chapter 9 is the second chapter on Inventory. These are special inventory valuation issues. The first topic is the Lower of Cost or Net Realizable Value (LCNRV). https://youtu.be/2OWbPDvyfXs The second topic is estimating inventory. There are two methods: Gross profit methodRetail method https://youtu.be/F7HBI18OPs4 Chapter 9 Inventory: Additional Valuation IssuesDownload Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment https://youtu.be/wuD4qv0p1hk https://youtu.be/Fe9MXXbcfkA Chapter 10 Property, Plant & EquipmentDownload Chapter 11: Depreciation, Impairments, and Depletion https://youtu.be/LtY1K_HrKpY https://youtu.be/ah3AXv2k1ng Chapter 12: Intangible Assets https://youtu.be/JsJ7TSAFw7s Chapter 13: Current Liabilities and Contingencies https://youtu.be/smd55sG2d_M Chapter 14: Long-Term Liabilities Bonds payable discounts and premiums https://youtu.be/2RsaDqaGR44 Bond discount and premium amortization https://youtu.be/5YKjRBJInPI Chapter 15: Stockholders’ Equity https://youtu.be/vmQtIoJ2e6A Chapter 16: Dilutive Securities and Earnings per Share https://youtu.be/AkX337aSv60 Chapter 16 Earnings Per ShareDownload Chapter 17: Investments https://youtu.be/r48SFgfNOoY Chapter 17 InvestmentsDownload Chapter 18: Revenue Recognition https://youtu.be/7XGBtDXXk9c Chapter 18 Revenue RecognitionDownload Chapter 19: Accounting for Income Taxes https://youtu.be/mCSH5Z9XWJs https://youtu.be/ykNByhb_alw Chapter 19 Accounting for Income TaxDownload Chapter 20: Accounting for Pensions and Postretirement Benefits https://youtu.be/ZSdBj_STICY Chapter 21: Accounting for Leases Accounting for leases outline https://youtu.be/qG-U_25xKaM Accounting for leases problems for lessees and lessors https://youtu.be/akrgl3UVsp4 Chapter 22: Accounting Changes and Error Analysis https://youtu.be/c2uQdN53MV4 Chapter 23: Statement of Cash Flows https://youtu.be/sFiFHNDkCNA Chapter 24: Full Disclosure in Financial Reporting Financial statement analysis and financial ratios https://youtu.be/VU639NLmWxY Financial ratio problems