Financial Accounting and Reporting (ACC 501)

2021 Fall
Sabancı Business School
Accounting(ACC)
3
6
Onuralp Armağan oarmagan@sabanciuniv.edu,
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English
Doctoral, Master
--
Formal lecture,Interactive lecture,Workshop,On-line task/distance,Group tutorial
Interactive,Learner centered,Communicative,Discussion based learning,Project based learning,Task based learning
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CONTENT

The course provides a comprehensive introduction to the basic concepts, principles, and standards of financial accounting with an emphasis on how financial information is reported to external users and how it is used in resource allocation decisions. The topics covered include the preparation and use of the financial statements, the recording cycle, liquid assets, inventories and cost of the goods sold, plant assets and intangibles, liabilities and owner's equity, and ratio analysis.

OBJECTIVE

The objective of this course is to introduce students to the main concepts and techniques of accounting used when a company reports to external parties (for example, shareholders and creditors). Students will learn how economic transactions are recorded and translated into accounting information which is useful for decision-making by external parties. Students will also learn techniques for analyzing a company's financial health.

LEARNING OUTCOMES

  • Upon successful completion of the course, a student should be able to: 1. Explain how accounting information is used in resource allocation decisions by users of that information 2. Describe the basic assumptions, concepts and principles of financial accounting, 3. Analyze business transactions in terms of their effect on the financial statements and be able to record them in the accounts, 4. Distinguish cash flows (cash basis) from income measurement (accrual basis), 5. Prepare a set of simple financial statements and classify their components for a more meaningful interpretation of the statements, 6. Broadly assess the financial position, profitability and cash flows of a firm through simple ratio analysis. 7. Understand and use basic accounting/financial terminology.

PROGRAMME OUTCOMES


1. Develop the ability to use critical, analytical, and reflective thinking and reasoning 4

2. Reflect on social and ethical responsibilities in his/her professional life. 4

3. Gain experience and confidence in the dissemination of project/research outputs 5

4. Work responsibly and creatively as an individual or as a member or leader of a team and in multidisciplinary environments. 5

5. Communicate effectively by oral, written, graphical and technological means and have competency in English. 3

6. Independently reach and acquire information, and develop appreciation of the need for continuously learning and updating. 5


1. Develop, interpret and use statistical analyses in decision making. 5


1. Demonstrate an understanding of main functional areas of management. 3

2. Develop the ability to integrate and apply business knowledge in novel situations. 5

3. Understand the global and local business context and incorporate cultural context and complexities into their managerial practice. 4

ASSESSMENT METHODS and CRITERIA

  Percentage (%)
Final 30
Midterm 30
Participation 10
Group Project 15
Homework 15

RECOMENDED or REQUIRED READINGS

Textbook

Textbook: Horngren, Sundem, Elliott, Philbrick, Introduction to Financial Accounting 11th edition, Pearson

Readings

Short articles from popular financial media related to the topics covered