Accounting Analysis I: The Role of Accounting as an Information System

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  • Course Orientation
    • You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
  • Module 1: Financial Accounting Structure/Environment
    • We will learn the primary focus of financial accounting and learn about General Accepted Accounting Principles (GAAP) and their key assumptions, as well as compare them to International Financial Reporting Standards (IFRS).
  • Module 2: Review of Accounting Process
    • We will use the accounting equation to complete the processing cycle. We will also learn the basic types of month-end adjusting entries. More importantly, we will describe the four basic financial statements and how they relate to one another.
  • Module 3: Balance Sheet & Financial Disclosures
    • We will learn the nuances of the Balance Sheet as well as various forms of disclosures associated with financial statements, including the Auditors' Report and MD&A. We will also review several key liquidity and financing ratios. Lastly, we will learn what's included in the operating segment reporting and wrap up with a fun exercise on understanding your own personal Balance Sheet!
  • Module 4: Income Statement and Accounting Changes
    • We will learn the key components of the Income Statement (e.g., EPS) and its impact on shareholders’ equity. We will also distinguish income from continuing operations vs discontinued operations. Lastly, we will better understand the impact of various accounting changes.
  • Module 5: Time Value of Money, Ethics, & Other Financial Statements
    • We will learn some of the key concepts related to time value of money. We will also discuss ethics and professionalism, as well as lessons learned from past accounting scandals. Finally, we will briefly review the Statement of Cash Flows (SCF) and Statement of Comprehensive Income (SOCI).
  • Module 6: Revenue Recognition
    • We will learn the key issues involving revenue recognition, including the five key steps. Next, we will determine when to recognize revenue, including involvement of multiple performance obligations and special issues related to steps 4 and 5. Lastly, we will discuss the presentation and disclosure requirements of revenue.
  • Module 7: Revenue & Ratio Analysis
    • We will understand the two methods of revenue recognition for long-term contracts. Next, we will introduce the concept of financial ratios and the various types of activity and profitability ratios. Lastly, we will discuss how the DuPont Framework analysis incorporates profitability, activity, and leverage ratios into the overall Return On Equity (ROE).
  • Module 8: Course Wrap-Up & Case Study
    • If you would like to earn an Honors badge on your certificate for this course, you must complete a peer reviewed case study that will serve as a refresher of all of the concepts that you have learned over the past seven modules. The case study will involve analysis of a publicly held Fortune 500 company in which you will analyze the Annual Report or 10K Report.