MFIN5800 Intermed Financial Account
This course provides the student with an understanding of the conceptual framework and standards that underlie the preparation of external financial reporting for the use of investors, creditors, government and other. The course also provides a survey of the application of Generally Accepted Accounting Principles (GAAP) for the preparation of the four financial statements, as well as a wide range of transactional areas such as valuation of inventories, acquisition and disposition of property plant and equipment, depreciation and depletion, and accounting for income taxes and pensions. GAAP treatment is compared with corresponding treatment under International Financial Accounting Standards (IFRS). Reporting requirements of the Securities and Exchange Commission (SEC) are also addressed.