GSB 612 Financial Accounting

Credits: 
3

This course introduces students to basic accounting principles, including the preparation of external financial statements and the analysis of specific financial statement components and corporate disclosures.  The course prepares students to understand the relevance of financial statement information to management and external users. The course also examines the fundamentals of financial statement analysis and differences between generally accepted accounting principles and international financial reporting standards.

Course Objectives

Upon successful completion of this course, a student will have

  1. Developed an understanding of an organization’s accounting cycle, an ability to construct financial statements from transactional data, and an appreciation for the role of accounting in making business decisions.
  2. Developed an understanding of the pronouncements of various professional organizations that govern the preparation and communication of accounting information, including the Financial Accounting Standards Board and the International Accounting Standards Board.
  3. Developed an understanding of the significance of accounting systems and internal control procedures that generate reliable accounting information and create integrity in the reporting process.
  4. Developed an understanding for how to periodically assess (and compare) the liquidity, profitability, and efficiency of an organization (against industry competitors and benchmarks) through financial statement analysis techniques.
  5. Developed an understanding of the importance of an accounting professional’s personal competence, professional judgment, and ethical behavior in framing accounting as the language of business.