Theory and standards related to asset valuation, revenue recognition, gain and loss recognition, and their impact on income measurement and financial position. Course Information: For satisfactory progress in the Accounting major, students must receive a C or better in ACTG 315 and may be repeated only once. Transfer credit may be accepted from an AACSB accredited institution on a case-by-case basis. Prerequisite(s): Average grade of B or higher in ACTG 210 and ACTG 211.