What you will learn
- What information do firms measure and report in a wide array of transactions, events, and arrangements in balance sheets, income statements, and statements of cash flows?
- What are key elements of financial reporting, such as revenues, expenses, gains and losses, net income, assets, liabilities, and owners’ equity?
- How do firms develop and use key internal information such as product costs, cost allocations, customer profitability, budgets, and planning to execute and control firm strategy?
- How do income taxes impact firms? How do firms measure and report taxable income and taxes payable? And how do firms strategically plan for and manage the impact of taxes on profitability?
- Accounting standards, including U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS).