Course

Objective:

Learning Outcomes:

• analyze specific environmental and theoretical structures affecting financial accounting: economic cost concepts, source documents, technology in accounting, ethics in accounting, and users of financial accounting statements
• outline the components of the balance sheet, demonstrate the components of the income statement, and differentiate between the seven forms that an income statement can take
• demonstrate understanding of accounts receivables by performing the calculations for the maturity date as well as the amount of interest charged on the note
• describe the uses and application of financial accounting, the GAAP, and IFRS principles and provide examples for demonstration purposes
• evaluate cash flows and the time value of money, incorporating the statement of expected cash flow using the correct formatting, Net Present Value (NPV), and annuities
• demonstrate an understanding, with the aid of relevant examples, of the need for forecasting, break-even analysis, and cost accounting, in managerial decision making
• summarize the six main financial ratios, the role played by each in global capital markets, and evaluate the effect of the ratios on decision making in the strategic/managerial planning process
• discriminate among the various factors affecting the need for controls in accounting and distinguish between variations in the recording of business transactions

General Course Topics: