Mdsarfaraz

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Administrative matters Discussion of Accounting Why is accounting interesting? Why do we need accounting? Course objective Sophisticated financial statement user An overview of information in financial statements complete information of accounting

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Discussion of Accounting • College aantekeningen
Discussion of Accounting • College aantekeningen
An accountant’s functions include • College aantekeningen
Balance Sheet: Investments and Financing • College aantekeningen
Corporate Accounting • College aantekeningen
En meer ….

Current Liabilities and Contingencies

Nature and reporting of current liabilities Understand the nature and reporting requirements of contingencies Illustrate the trade-off between reliability and relevance in accounting for contingencies

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Accounting for Long-Term Debt

Extend our understanding of valuation methods beyond simple present value calculations. Understand the terminology of long-term debt Bonds – coupon and zero-coupon bonds At Par vs. Discount vs. Premium Market interest rate versus coupon rate Mortgages – Interest plus Principal paid each period Practice bookkeeping for debt issuance, interest accruals, periodic payments, and debt retirement. Understand how long-term debt affects financial statements over ti...

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Time Value of Money

Obligations that must be discharged in a short period of time (generally less than one year) Reported on balance sheet at nominal value examples: Accounts payable Short-term borrowings Current portion of long-term debt Deposits Warranties Deferred Revenues / Income

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Accounting for Leases

Understand the rationale for leasing and the distinction between operating and capital leases. Understand the Income Statement and Balance Sheet differences between operating and capital leases from the lessee’s perspective.

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Accounting for Marketable Securities

Understand when accounting departs from the “transactions- based” model and towards market-driven valuations

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Depreciation and Deferred Taxes

Tax Depreciation Accelerated depreciation No judgment in determining depreciation expense Tax Reporting ≠ Financial Reporting ==> timing differences in measurement of income Why would a firm prefer accelerated depreciation for tax purposes? Why does government allow this? Why not use the tax method for financial reporting? Different depreciation for tax and financial reporting gives rise to Deferred Taxes

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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Accounting for Business Combinations

Understand that the accounting method used for acquisitions depends on the extent to which the investor exerts influence over the investee.

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College aantekeningen
• 13 pagina's •
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123 University • FINANCIAL ACCOUNTING
Corporate Accounting complete package • Door mdsarfaraz

Course summary of Accounting

Accounting – Mapping of actions and events into financial statements (Economic) Principles governing the accounting mapping: Objectivity, conservatism, revenue recognition, and matching