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Description:
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This course is the first of two required accounting courses designed to
lay the accounting foundation necessary for any MBA
students. Accounting is critical because accounting statements are the
most common way of communication inside and outside a business
entity. This first course introduces students to (1) corporate financial
statements and (2) basic cost concepts and its uses. By the end of the
course, you will have an improved ability to analyze the information
content of financial and managerial accounting statements for decision
making. To meet this broad objective, you will develop an analytic
framework of how accounting statements inform about the underlying
operating, investing, and financing activities, grasp the key accounting
concepts that underlie common reporting practices, and understand the
way in which accounting measures are sensitive to variations in
estimates, methods and possible manipulation. The course divides
naturally into three related parts. The first introduces the basic
bookkeeping model, including the concepts, definitions, and
relationships required for a fundamental understanding of the process
that produces the balance sheet, income statement, and cash flow
statement. The second part introduces basic concepts of economic and
accounting costs and their use in short-term decisions faced by
managers. The third part considers in more detail measurement and
disclosure issues that are associated with assets, liabilities and
equities shown in financial statements. (PL, CC 7/12)
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