Full course description
THIS COURSE IS COMPULSORY ONLY FOR STUDENTS WHO DID NOT PASS ACCOUNTING IN 2017-2018 OR BEFORE. THESE STUDENTS HAVE TO RETAKE ACCOUNTING IN 2018-2019, AND DO NOT TAKE ACCOUNTING AND FINANCIAL REPORTING (EBC1037-1038-1039).
The aim of this course is to introduce financial accounting. Students will learn how to record business transactions and draw up financial statements (balance sheet, income statement and cash flow statement). Understanding the basic principles underlying ‘the language of business’ is essential to anyone who will be involved in the preparation (e.g., controllers), monitoring (e.g., supervisory board members, auditors, stock market regulators), analysis (e.g., financial analysts, M&A consultants), or use (e.g., venture capitalists, governments, private shareholders, bondholders) of financial accounting information. The course also addresses other factors (such as accounting regulation, auditing, corporate governance and managerial incentives and judgement) that affect the preparation and use of financial statements as well as techniques for analyzing financial statements.
- Learn how to prepare financial statements (income statement, balance sheet, cash flow statement) at an introductory level using International Financial Reporting Standards (IFRS).
- Understand how managerial judgement plays a role in selecting accounting methods and measurement.
- Learn how to analyze and interpret financial statements.
- Understand how managerial incentives, managerial judgement, auditing and corporate governance affect the quality of financial statements.
- An advanced level of English.
- No specific required knowledge requested.
- Bhimani, A., Horngren, C.T., Datar, S., and Rajan, GM.V. (2012) Management and Cost Accounting, Prentice Hall, 5th Edition. (Chapters 1-15)
- Harrison, Horngren, Thomas, and Suwardy, 2013, Financial Accounting (IFRS): Global Edition, Pearson, 9th edition. (Chapters 1-3)