Introduction - in the future As a result we will both cover...

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Week 1 Introduction Imagine being in charge of the finances of a company. Or working as an analyst on Wall Street, recommending investments to your clients. Both careers require an in-depth knowledge of accounting. From basic journal entries, to the analysis of a public company's 10-K report, accounting is the language of business that allows financial statement readers to make informed business decisions. This week, we will discuss the TCOs that pertain to the theory of accounting principles and practices, along with the practical application of accounting to business. In this week's lecture, we will discuss at length the accounting rules that constitute Generally Accepted Accounting Principles (GAAP). We will also introduce the rules that pertain to the international rules of accounting, commonly referred to as International Financial Reporting Standards (IFRS). The U.S. is contemplating perhaps adopting the IFRS for accounting purposes
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Unformatted text preview: in the future. As a result, we will both cover methods during the term, discussing the similarities and differences between both methods, along with the controversies that surround adopting IFRS. This week we will review and cover the accounting cycle. From the original transactions, through financial statement preparation, we will cover the accounting information system in-depth. For some of you, part of this week's material will be a review of your introductory course in financial accounting. For many, however, the additional accounting theory we discuss will be a new topic. Also, with the emergence of international accounting standards impacting accountants everywhere, this is material you'll want to comprehend thoroughly. See you in the discussions! Week 1: U.S. GAAP (Jan 3 - Jan 10) Help Print This Page Page 1 of 1 1/17/2010 .....
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  • Spring '10
  • International Financial Reporting Standards, Generally Accepted Accounting, Basic Journal Entries, additional accounting theory

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