I initially anticipate regarding of studying to achieve my associate degree in Accounting major. In order to achieve my associate degree in Accounting major, I had to take four accounting class. The last accounting class that I took was Intermediate Accounting II. In Intermediate Accounting II, I gain lots knowledge of Inventories, Merchandise Inventory; Depreciation of property and equipment’s; agreements of partnerships and Corporate Taxes. After taking this course I have the basic knowledge of how financial accounting theory is expressed and undertaken. Since my childhood, I enjoyed working with calculations and often when my parents went shopping, I used to calculate their spending which taught me to become very tenacious, thus never losing sight of my goal – becoming an accountant (Wilson).
This course has helped me in great deal to overcome my fear of accounting. I was very unsure about the mechanisms of accounting and especially the working and maintaining of financial statements; but with all the efforts and supports of my teachers; I was able to fully grasp the techniques and looked everything in the card file by placing the equations manually (Cottell 43-54).
One of the important highlights of what I have learned and can take away from this course was accelerated methods to calculate depreciation expense. These methods accelerate or take more depreciation expense in the early years of the asset’s life & less in the later. The reason for this because as asset is more productive & helps you generates more revenue in the early years. The two methods we will discuss are: some of the year’s notes receivable and ending inventories. The work that I had to complete was to create a complete financial statement as a do project on Coca-Cola company and present to the class. In this project I have learn about the loss and gain contingencies of Coca-Cola. I learned a lot from this project as the feedbacks received were very anticipating...