Course Catalog - 2018-2019

     

BUSI 405 - ISSUES IN FINANCIAL REPORTNG I

Long Title: ISSUES IN FINANCIAL REPORTING I
Department: Business
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Restrictions:
Must be enrolled in one of the following Level(s):
Undergraduate Professional
Visiting Undergraduate
Undergraduate
Prerequisite(s): BUSI 305
Description: Building on subject matter introduced in BUSI 305, this course provides students with a deeper knowledge of generally accepted accounting principles and procedures so that they properly account for and present information in financial statements prepared for external users. The student will acquire an understanding of the accounting issues relating to complex revenue recognition issues, inventory costing, long-lived tangible and intangible assets, and discontinued operations. The student should be able to evaluate alternative accounting methods and choose the methods which will best convey the financial information related to the above areas. The student should be able to demonstrate an understanding of the transaction analysis, recording, classification, summarization, and reporting procedures in the accounting cycle, and an understanding of the information contained in the financial statements. Finally, students should be able to demonstrate written communication skills required of accountants. BUSI 305 Financial Accounting is a pre-requisite for this course.