Accounting for Managerial Decision Making

Course Description

This course introduces the principles of financial accounting to prepare the manager to assess and manage the health of the organization. Students will be exposed to a set of accounting tools and the management of financial information used in making effective business decisions.

Topics and Objectives

Ethical and Legal Obligations in Financial Reporting

  • Analyze the relationship among the FASB, SEC, and the PCAOB.
  • Explain basic accounting theories, assumptions, and principles.
  • Apply generally accepted accounting principles to fundamental accounting transactions.
  • Evaluate the role of ethics in accounting.

Reporting Financial Information-Assets

  • Apply strategies for reporting various assets.
  • Evaluate the effect of inventory errors on company profits.
  • Critique the use of different valuation methods in meeting company goals.

Reporting Financial Information-Liabilities and Equity

  • Prepare a basic balance sheet.

Reporting Financial Information-Revenues, Expenses

  • Prepare a basic income statement.
  • Analyze the relationship between the balance sheet and the income statement.
  • Compare and contrast different recognition methods.
  • Debate the expensing of stock options.

Reporting Financial Information-Cash Flows

  • Prepare a statement of cash flows.
  • Explain how each section of the statement of cash flows assists a different set of users.
  • Assess the direct and indirect methods for preparation of a statement of cash flows.

Internal Controls and Sarbanes-Oxley

  • Distinguish among preventive, detective, and corrective controls.
  • Assess the strength of an organization's internal controls.
  • Argue the pros and cons of Sarbanes-Oxley.
  • Describe the impacts of Sarbanes-Oxley.
  • Distinguish between ethical and unethical behavior in the reporting of financial information.

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