ACT3015 - Financial Accounting

(3 units)

This course introduces students to the general nature of financial accounting and the underlying terms, systems and concepts. The students will examine how financial statements such as the Income Statement, the Balance Sheet, and the Statement of Cash Flows are inter-related. They will gain an understanding of managing short-term and long term assets and liabilities, preparing and analyzing financial statements and cash flows, cost systems, budgeting, performance evaluation, job order costing, and capital investment analysis. Students will learn how to interpret information presented in financial statements, explicit or implicit, to understand the firm performance, both on a standalone basis as well as relative to other peer firms in the industry.