BUAD 212 Financial Accounting

Introduction to theory and practice of accounting and financial reporting for partnerships and corporations, including financial statement preparation, the accounting cycle, inventories and accounting for assets, liabilities, equities, revenues and expenses. Prerequisite: Math 070 or assessment by instructor. (TE)

Credits

5

Outcomes

1. Prepare and interpret basic financial statements, and to articulate the effects of economic events on the statements.
2. Describe the role that accounting plays in society, the value of financial accounting information to investors and creditors, and the limitations of that information.
3. Apply the vocabulary of accounting and use the language of business in conversations.
4. Demonstrate familiarity with the technology of accounting systems and accrual concepts.
5. Appreciate the differences in accounting practices within an international context. Group discussions, group problem solving.
6. Demonstrate basic research skills, library resources, and financial databases