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 grade of C or better in ACTG 315. ACTG 315 may be repeated only once. Transfer credit from another College or University is not accepted for ACTG 315. Prerequisite(s): Average grade of B or higher in ACTG 210 and ACTG 211.