1270Fall 2021
3 Credits

Financial Accounting

Learn the fundamental components of the accounting financial system and keeping track of a company's financial transactions.
Alexander Wong
Course Introduction
Alexander Wong
Alexander WongMBA, California State University, Long Beach

Professor

Trained as an accountant, Alex is a versatile management professional with over 29 years of broad ranging experience in strategic planning and leadership of finance and operations in diverse industries including international airport management, healthcare services and technology start-ups in United States, China and Europe…

Interests
  • History
  • International Relations
  • Foreign Languages
  • Travel
  • Cooking

Financial Accounting

This course is accredited through the school of record, UIBE.
3 Credits
Download Syllabus

Course Description

This course introduces the student to 1) the role of accounting in business and society; 2) the basic concepts and techniques of financial accounting; and 3) the use of financial statements for decision-making purposes. Topics covered include analyzing and recording business transactions; preparation of accounting records for business organizations; accounting valuations of financial resources; and the preparation, interpretation, and analysis of financial statements.

Courses Outcomes

On successful completion of this course (i.e. by passing this course), a student will be able to

  1. Understand financial accounting’s role in society including the users of financial
    accounting information, uses of the primary financial statements, purpose of an
    audit, and role of ethics in the accounting profession.
  2. Identify basic business concepts including forms of business organizations, types of
    business activities, internal controls, and research tools such as annual reports and
    the internet.
  3.  Prepare a simple set of financial statements and explain accounting concepts
    underlying these financial statements including accrual accounting concepts, cash basis accounting concepts, valuation methods for reporting assets and liabilities, and the effects of business transactions on the basic accounting elements.
  4. Use financial information and financial statements contained in a business entity’s annual report to perform ratio analysis and make investment and credit decisions.