Accounting is the language of business. In this course you will learn how to "speak" and "read" this new language. The course is designed to provide an overview of financial accounting so that, upon completion of the course, you will be able to read, interpret and analyze corporate financial reports. In particular, you should:
1. Develop a comprehensive and well-founded knowledge of financial accounting, including
a. Understand the accounting categories: assets, liabilities, equity, revenues and expenses;
b. Understand how an accounting system keeps track of information;
c. Understand how International Financial Reporting Standards (IFRS) influence what is recorded in the books of an entity;
d. Prepare a balance sheet, income statement and cash flow statement;
e. Read, interpret and analyse a set of financial statements.
2. Understand the role of financial accounting in the decision-making process of business organizations. Apply financial accounting frameworks to business situations.
3. Be able to form critical judgment covering an ability to identify and define accounting and business problems, apply analytical and quantitative techniques, make and justify decisions.
4. Be effective in communication through collection, analysis and organization of information and ideas and their clear transmission.
5. Demonstrate teamwork, independence and creativity including working, learning and problem solving as a team and independently.
6. Demonstrate ethical and social understanding including a knowledge and respect of ethics and ethical standards in accounting and an understanding of social and civic responsibility.