ACCT 6060 Financial Accounting for Managers

The course will focus on how to organize, present, analyze, and interpret financial accounting information. Accounting information is organized in the form of journals, special ledgers, and the general journal. Financial information is presented in the form of financial statements, principally, the income statement, balance sheet and cash flow statements and statement of retained earnings. Management input in financial statements relates to interpretation of accounting numbers. Ethical issues are covered in this course on topics relating to control of cash and receivables, recognition of revenues and expenses, and separation of duties in relation to custody of assets and record keeping. Global and diversity issues will be covered when discussing valuation of assets and liabilities of foreign operations, recognition of foreign exchange gains and losses, and the repatriation of dividends. The course also integrates International Financial Reporting Standards (IFRS) and although U.S. GAAP and IFRS use the same concepts but sometimes they use different methods and the differences are discussed and illustrated. The impact of technology on accounting and financial information systems will be incorporated in the course in discussions relating to management of cash and accounts receivable, valuation of inventory, and management of fixed assets.
Credits: 3.0