Accounting is the language used to measure and communicate an entity’s economic activity. A solid understanding of this language is important for being an informed user of financial statements. It requires us to consider how financial reporting information can be utilized, which, in turn, requires us to learn how corporate financial reports are prepared. To facilitate your learning, this class combines lectures and discussions of the assigned materials. The assigned cases serve as a basis of class discussion and provide a challenging test of your understanding of the topic. They are based on corporate financial statements and illustrate the issues associated with various accounting methods and the manner in which the related information is disclosed. Additionally, these cases demonstrate the real world magnitudes of income and balance sheet differences under alternative accounting methods, as well as a variety of financial reporting practices.
This course prepares students for more advanced finance and financial statement analysis courses. By the end of the course, you should have a basic understanding of (1) the fundamental concepts underlying financial reporting systems; (2) the role of judgments and estimates in the preparation of financial reports; (3) and how to read, analyze and interpret them.
None. Cannot enroll in BUSN 30000 if BUSN 20100 taken previously.
- Course Web Site: course materials will be posted on Canvas. You will need a CNET ID and password to access Canvas.
- Class Handouts: The lecture handouts will be distributed right before each class.
- Required material:
Financial Accounting, 7th edition by Hanlon, Magee, Pfeiffer and Dyckman
Based on a mid-term examination, individual assignments, a final examination, and class participation. Cannot be taken pass/fail. No auditors.
- Mandatory attendance week 1
- No pass/fail grades
- No auditors
Description and/or course criteria last updated: September 12 2023
