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ACC 201 Introduction to Financial Accounting and Reporting
Introduction to Financial Accounting and Reporting Accounting is the information system organizations use to identify, record and communicate relevant economic events and as such all management students should have a strong background in accounting. The purpose of this course is to familiarize the students with basic accounting concepts, principles, and methods as well as to teach them the basic business terminology they will encounter in future management courses and in the business world. The course will help the students appreciate the role of accounting information in financial decision making and is intended to serve as a foundation for subsequent Accounting and Finance courses. The topics covered include demand for accounting information by internal and external users in making investment and credit decisions; supply of accounting information and the institutional background for generally accepted accounting principles; the format and the content of the four basic financial statements; analysis and recording of business transactions through the recording cycle; accounting for current assets including trade receivables and inventories; plant- property- equipment and depreciation; financing through short and long-term debt versus equity; and basic financial ratio analysis. The course is based on International Financial Reporting Standards (IFRS).
SU Credits : 3.000
ECTS Credit : 6.000
Prerequisite : -
Corequisite :