Course Description
Broadly exposes the student to advanced subjects in accounting; furthers the student's ability to analyze and present solutions to complex accounting problems, as well as interpret and apply theoretical issues; and develops the student's communication and presentation skills.
Week 1
Lecture: Course Introduction
Lecture: Accounting Concepts, Rules and Challenges
Outcomes
- Why financial statements are important
- Rules of the financial reporting game
- Accounting challenges
Week 2
Lecture: Review of Financial Statements
Outcomes
- Cash vs. accrual accounting
- Revenue and expenses
- Income statement
- Recording transactions
- The balance sheet
- The statement of cash flows
- Essentials of financial statement analysis
Week 3
Lecture: Earnings Quality and Earnings Management
Outcomes
- Revenue recognition issues
- Earnings management
- Earnings quality
- Earnings surprises
- Valuation and credit risk
- What roles accounting numbers play in contracts
- Regulatory agencies
- Managed earnings and incentives
Week 4
Lecture: Receivables
Outcomes
- Net realizable value of accounts receivable
- Factoring receivables
- Troubled debt restructuring
- Fair value option
Week 5
Lecture: Inventories
Outcomes
- Inventory issues
- Cost flow assumptions
Week 6
Lecture: Long-Lived Assets and Depreciation
Outcomes
- Long-lived assets
- Intangible assets
- Asset impairment
- Depreciation
Week 7
Lecture: Liability Topics
Outcomes
- The question of debt or equity
- Bond accounting
- Contingent liabilities
Week 8
Lecture: Financial Reporting for Owners' Equity
Outcomes
- Earnings per share (EPS)
- Stock-based compensation
- Convertible debt
The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. November 2011
