| Course Description |
The purpose of this course is to provide a comprehensive introduction to accounting. It is designed to provide managerially oriented users of accounting products with the foundations of accounting concepts, the underlying mechanics, and the overall perspective required to become intelligent users of accounting information. The course will focus on the typical financial statements (e.g., balance sheets, income statements, and cash flow statements) along with the environment in which they are produced and used. The overarching perspective is that accounting reports provide information that is useful for various purposes.
The course design emphasizes that the information content of accounting reports is jointly determined by the accounting methods used to generate the reports and the environment in which the reports are produced and used. Thus, the course integrates the study of accounting methods and the study of the accounting environment. Accounting concerns, in turn, vary with market opportunities, instruments, and organizational arrangements at hand.
The course is organized into two interrelated modules. First, we review accounting-related institutional details, the nature of financial reports, audits, and disclosure. This includes the examination of the three main financial statements the nature of accrual measurement, and the information perspective that is central to the course. Second, we explore accounting methods in detail, focusing on revenue recognition, assets, liabilities, and equity. We explicitly consider accounting issues related to global organizations.
Throughout the course, we apply these concepts to real-world contexts, with attention to ethics, data integrity, financial statement analysis, valuation, and regulatory frameworks. In addition, we integrate contemporary topics such as the impact of climate change and ESG (environmental, social, and governance) considerations on financial reporting. Selected current events and emerging trends in ESG reporting are discussed in relation to the accounting frameworks and principles covered in class.
Finally, we explore the role of artificial intelligence—particularly large language models (LLMs)—in financial analysis. The course introduces how AI tools can assist in interpreting financial statements, while emphasizing the importance of human judgment and expertise in ensuring responsible and effective use of AI technologies.
For Mendelson Students Only.
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