GBUS 727 Accounting for Managers

As the language of business and the cornerstone of the financial capital markets, accounting provides terminology, frameworks, and concepts with which to understand and analyze the financial consequences of business activities. As these activities have become increasingly complex and global, the task of presenting timely, relevant, and reliable financial information to interested internal and external users has become more challenging. The primary purpose of the first-year program ACC core course is to provide students with considerable financial-statement, financial-analysis, and financial-management expertise in order to enhance their decision-making capabilities.

This course consists of two complementary components: managerial accounting and financial accounting. Managerial accounting has an internal focus and pertains to the collection and analysis of financial information relevant to business operations, including costs analysis, product and service costing, planning, budgeting, and performance evaluation. Financial accounting pertains to the preparation and analysis of financial statements primarily intended for use by external constituents such as investors, creditors, and government regulators. This course takes primarily a user’s perspective rather than a preparer’s perspective. Nevertheless, it emphasizes the importance of understanding generally accepted accounting principles and practices, including the rationale for existing accounting standards and the reasons for accepted alternatives. Students will be challenged to consider the implications of alternative accounting measurements to various business decisions and various business stakeholders. Throughout the course, the topics covered are presented with the intent of being thought-provoking and managerially relevant.