Intermediate Financial Accounting

About this course

A scoped intermediate practice course using original fictional-MU cases and explicitly simplified policies. Covers reporting judgement, accruals, basic revenue/receivables, trading inventory, historical-cost equipment, simple impairment, plain liabilities, equity and connected cash/statement reconciliations. It is not comprehensive IFRS/GAAP/Lebanese reporting guidance, personalised advice or a professional qualification.

Level: Scoped intermediate practice after introductory bookkeeping

Prerequisites

• Introductory financial accounting, including debits/credits and a trial balance.
• Comfort with percentages, fractions of a year and simple algebra.
• Ability to read a small ledger or reconciliation table.

Learning outcomes

• State the reporting basis and distinguish teaching policies from external compliance claims.
• Record and explain accruals, prepayments and simple contract balances.
• Calculate supplied receivable allowances, inventory costs, depreciation and simple impairment.
• Separate debt principal, financing expense and owner movements.
• Prepare connected simplified profit, equity, financial-position and cash schedules.
• Explain material assumptions, uncertainty and evidence limitations.

Materials in this written edition

• 12 original written lessons with 12 worked examples.
• 36 independent practice questions and 24 exit checks with explanatory answer keys.
• 3 topic self-assessments with 12 questions and marking guidance.
• One integrated 50-point capstone with model answer and rubric.
• Accessible text explanations and labelled learning tables.

Course contents

1. Reporting Framework and Judgement (4 lessons)
2. Assets and Measurement (4 lessons)
3. Liabilities and Connected Reporting (4 lessons)

New written edition. Earlier course completion is not evidence of completing this revised material. Worked keys are provided for self-checking.