This is the second of three courses in intermediate accounting. These courses are designed to extend a student's knowledge of financial accounting practices. The second course focuses on an improved understanding of a company's assets and begins a discussion of liabilities. Students will study the recording and disclosure requirements for cash and receivables, inventories, long-lived operational assets and investments, which also serve as financial instruments for an organization. The course concludes with a presentation of recording and disclosure requirements for current and long-term liabilities. Integrated within this course will be exposure to CPA simulation questions and the use of the FARS database for conducting accounting research.