GB613, Financial Reporting and Analysis

Description and Objectives of the Course


Students acquire a basic knowledge of the language of business and of the accounting environment. The course focuses on financial accounting, which provides financial information primarily for decision-makers outside the entity. This financial information is provided to external decision-makers primarily by means of general-purpose statements of operating results, financial position, and cash flow.  The course concentrates on the application of accounting theory, standards, principles, and procedures to business transactions. The fundamental rationale for the various aspects of financial accounting are stressed. The course is designed both as an introduction to financial accounting which may be followed by more in-depth study in subsequent courses and as the first course in a two-semester survey of basic accounting. The second course is GB615, Managerial Accounting, which is taught for an entire semester. That course not only introduces managerial accounting concepts but also looks at analysis and interpretation of financial statements in more depth than is possible in this 1.5-credit course.