112 Introduction to Financial Accounting 2

Accounting

Approved course information last updated: 2 years, 2 months ago

Pre-requisites: ACC 111

Requisite To: ACC 201 ACC 450

Lab Session:

Course Description

The second of two courses that introduce the basic concepts, systems, terminology of financial accounting, and procedures for preparing financial statements, including problems of identification, measurement and disclosure of main elements of financial statements. Interpretation, analysis and use of information communicated through financial reports are emphasized.

Course Learning Objectives (CLOs)
  • Lo 1: explain the historical cost principal, depreciation and disposal of plant assets. explore the basic issues related to natural resources and intangible assets.
  • Lo 2: distinguish between the types of current liabilities and non-current liabilities and identify the accounting and financial reporting for both liabilities.
  • Lo 3: understand the major characteristics of corporation and the issuance of shares and accounting for shareholder’s equity.
  • Lo 4: explore the reasons behind corporations’ investments in debt and equity securities. understand the accounting for investments and how such investments are reported.
  • Lo 5: explore the usefulness and the purpose of the statement of cash flows, and how to prepare the statement of cash flows under the indirect method.
  • Lo 6: explain the need for comparative analysis and identify the tools of financial statement analysis.
Syllabus History
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  • Compliant Updated

    Validated by: sara.ghasem