Financial Accounting Principles

Categories: Masters Courses
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About Course

This course teaches the information that is needed for sound economic decision making includes the preparation and examination of financial reports. The Generally Accepted Accounting Principles (GAAP) guidelines will be followed.

Course Content

Week 1. What is financial accounting?
Reading: financial accounting textbook pages 6- 25

  • Lesson material
  • Assignment 1

Week 2. Why is financial accounting important?
Reading: financial accounting textbook pages 6- 25

Week 3. What should decision makers know about an organisation (materiality)?

Week 4. The need for Generally Accepted Accounting Principles (GAAP)

Week 5. 4 Basic terms in Financial Accounting
Asset, liability, revenue and expense

Week 6. Preparing income statement

Week 7. Preparing balance sheet and statement of cashflows

Week 8. Collecting and organising information necessary to prepare financial statement

Week 9. Why must financial information be adjusted before production of financial statement?

Week 10. Treating accounts receivable

Week 11. Accounting for Inventory

Week 12. How do firms treat tangible assets?
Property, land and equipment

Week 13. How do firms treat intangible asset?
Goodwill and patents

Week 14. Financial Ratio Analysis
Profitability, liquidity, investor ratios etc

Week 15. Quiz