Syllabus
Contents
1. Accounting Framework – course outline, key concepts, types of accounting, financial reports2. Balance Sheet – balance sheet equation, assets, liabilities, equity, recognition exercise3. Income Statement – revenues, expenses, gains, losses, accounting cycle exercise4. Revenues, Expenses – revenue recognition, expense matching, contingent gains, and losses5. Inventory Valuation – cost flow assumption, FIFO, LIFO, average cost, the LIFO reserve6. Accounts Receivable – direct write-off method, allowance method, sales returns and allowances7. Fixed Assets – historical vs. fair value, depreciation, straight-line vs. accelerated8. Corporate Bonds, Leasing – discount/premium amortization; operating vs. capital lease9. Accruals – IS vs. SCF, accruals, and deferrals, classification of business activities10. Cash Flows – direct method, indirect method, cash flows vs. earnings11. Earnings Management – institutional settings, cash flows vs. earnings, accounting manipulation12. Accounting Jeopardy – practical applications of accounting, tricky issues, interconnections Files (ACT23, JEB044, IES FSV UK, Financial Accounting) | Google Diskhttps://drive.google.com/drive/folders/1u1NQbXSkSM_wDBwvZQ6W2RU-NUZI9tHT?usp=sharing
Annotation
The aim of this course is to provide understanding of the broad principles that govern the use of accounting, of the fundamental accounting concepts and of the ways in which they are interlinked. At the end of the course students should be able to understand accounting information, analyze it and draw conclusions for relevant economic decisions.
The course is intended for the second year students. The first year students are welcome in the course provided that they feel confident to follow a course in English and that they have some basic pre-knowledge of accounting relationships.