BUS 528 - Accounting and Legal Environment of Business—Self-Study

3 Credit(s)

This course is designed for graduate students with little or no prior experience in accounting. The course familiarizes students with the fundamentals of external financial reporting for business enterprises and not-for-profit entities. The financial accounting segment of the course focuses on the preparation, analysis, and limitations of financial statements in accordance with U.S. generally accepted accounting principles (GAAP). The conceptual framework that serves as the basis on which financial reporting standards are developed is also discussed. A brief overview of international financial reporting standards (IFRS) is also provided. The managerial accounting segment of the course covers such internal reporting issues as break-even analysis, capital budgeting, cost behavior patterns, and cost allocation. The legal component of the course addresses the formation of different types of business entities (e.g., corporation and partnership) and the regulatory role that the SEC, PCAOB, and Sarbanes-Oxley play in financial reporting.
Prerequisite(s): None.