ACCT 706: Accounting

Credits: 3

Key Skills: financial accounting, cash flow and stockholders’ equity statements, accrual basis of accounting, PP&E accounting, fixed assets, tangible assets, generally accepted accounting principles (GAAP), FIFO and LIFO, calculating cost of goods sold, lower of cost or market rule

Description: Part of KU’s Online MBA core, Accounting is a big-picture introduction to financial accounting focused on communication and decision-making within a business organization. Essential topics covered include the process through which economic information is captured and distributed, the content of financial statements based on case studies of known brands, the substance and measurement of various accounts, and use of financial information by external decision-makers.

By the end of the course, students will become familiar with how to evaluate and use the balance sheet, income statement, statement of cash flows, and statement of stockholders’ equity, how various transactions impact these statements, and how this information reflects an organization’s operating performance and financial position. By the end of the course students will understand the accrual basis of accounting and be able to analyze a company’s annual financial report.

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