Prerequisite(s): ACCT 301. Restriction(s): Accounting major students only. Corequisite(s): ACCT 304 with permission from the Department Chair. Special fee. Continuation of Intermediate Accounting I. Students acquire an improved understanding of the composition and significance of various segments of the income statement and the balance sheet, particularly non-current assets, liabilities, owners' equity, and earnings per share leading to an improved understanding of the preparation of various aspects of the financial statements as well as an enhancement of their ability to critically evaluate accounting and its impact to the international community.