<p>upper division accounting courses (usually numbered 300/3000 or above) are math intensive by foundation… you must be able to see the math that is there in order to understand the concepts and solve the rather complex problems… like this one for instance:</p>
<p>“The Grax Company’s historical cost balance sheet showed equipment (at cost) of 20 million schillings on December 31, 2000 and 24 million schillings on December 31, 2001. The equipment was being depreciated over a five year period on a straight line basis. Equipment costing 4 million schillings was acquired on January 1, 2001. A full year’s depreciation was taken in the year of purchase. The December 31, 2000 balance of equipment (at cost) restated to reflect December 31, 2001 purchasing power was 25 million schillings. What amount of depreciation expense should be shown in the general price level adjusted (GPLA) income statement if the general price level index was 120 at December 31, 2000 and 144 at December 31, 2001?”</p>
<p>This was taken from my International Accounting (an intensive May Term class) quiz on WebCT.</p>