Course DescriptionThis is the first accounting course at the professional level for students concentrating in accounting. It offers an intense examination of generally accepted principles related to the preparation of financial statements, with particular emphasis on balance sheet valuations and their relationship to income determination. It also covers the conceptual framework underlying financial accounting and introduces the concept of the time value of money and the application of present value techniques to accounting valuations. Participants will study the valuation and disclosure issues associated with cash, receivables, inventory, property, plant, and equipment in depth.
Upon successful completion of this course, students will be able to:
- Explain the regulatory environment and how institutions impact the accounting profession
- Apply financial standards and methodologies of accounting systems
- Exercise analytical skills in group exercises
- Perform effective managerial skills