- International Fees
International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
This course examines the general principles of the financial reporting system, underscoring the critical role of the analysis of financial reports in investment decision making. As well, this course examines the range of information that an analyst may use in analyzing the financial performance of a company, including the principal financial statements (the income statement, balance sheet, cash flow statement, and statement of changes in owners’ equity), notes to those statements, and management discussion and analysis of results. This course also focuses on the role of financial reporting standard-setting bodies worldwide and the International Financial Reporting Standards. NOTE: The following introductory accounting courses are highly recommended for students with no prior knowledge of accounting: FMGT 1152 or FMGT 1100 and FMGT 2100.
Prerequisite(s)
- No prerequisites are required for this course.
Credits
4.0
- Retired
- This course has been retired and is no longer offered. Find other Flexible Learning courses that may interest you.
Learning Outcomes
At the end of this course the student will be able to:
- Assess the objectives of financial reporting
- Explain the application of financial reporting objectives in statement preparation under current International Financial Reporting Standards (IFRS)
- Outline the major accounting concepts and principles
- Assess which of the major accounting concepts and principles apply to specific accounting situations
- Evaluate how various accounting treatments affect: (1) reported net income and earnings per share, (2) shareholders' equity and book value per share, (3) cash flow, and (4) important financial ratios
- Justify the reasons that financial statements cannot be accepted at face value
- Explain why financial statements must be critically evaluated in light of the accounting methods used in their preparation
- Outline how the accounting process measures values of various items that appear on financial statements, including how these valuations relate to economic reality
- Reformulate accounting data to make them more meaningful for the purposes of reaching valid investment conclusions
- Evaluate supplementary data presented in the footnotes to the financial statements, or elsewhere in company reports, as well as outside data sources
- Evaluate the information presented in financial reports (balance sheet, income statement, statement of cash flows, statement of shareholders' equity, footnotes, and supplementary disclosures)
- Assess how financial report information can be used to obtain better insights into an enterprise's prospects and risks
- Interpret how accounting methods vary among countries
- Reconcile accounting methods that vary among countries to make valid financial comparisons on a global basis
Effective as of Fall 2011
Programs and courses are subject to change without notice.