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Summary Financial Accounting

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Accounting ƒ Provides information to people inside the company ƒ Internal investment decisions ƒ Performance evaluation ƒ Tax Accounting ƒ Provides information to the tax authorities ƒ Legal to prepare separate books for tax and financial purposes

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April 13, 2022
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2021/2022
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Introduction

15.511 Corporate Accounting
Summer 2004


Professor SP Kothari
Sloan School of Management
Massachusetts Institute of Technology




June 7, 2004
1

,Session 1:
Agenda
ƒAdministrative matters
ƒDiscussion of Accounting
ƒ Why is accounting interesting?
ƒ Why do we need accounting?
ƒCourse objective
ƒ Sophisticated financial statement
user
ƒAn overview of information in
financial statements
2

,The required materials are:
ƒ 10th Edition of Stickney and Weil
ƒ Financial Accounting: An Introduction to Concepts,
Methods, and Uses
ƒ Case Packet
ƒ Class web server
ƒ Syllabus
ƒ Schedule
ƒ Homework assignments
ƒ Sample exams

3

, Course Grading
ƒWritten Problem Sets 25%
ƒMidterm 30%
ƒFinal 45%




4
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