Pre-requisites: 1602201 Intermediate Accounting (1)
The primary purpose of this course is to expose students to the basic concepts, principles & assumption underlined the accounting procedures & financial statements. Key accounting & financial reporting issues and their alternative treatments will be examined on light of the conceptual framework and users of financial information needs. The focus will be on the assumptions & principles underlined the financial statements, the concept of income recognition, the measurement & recognition issues related to Revenues & Expenses, the valuation & reporting issues related to Assets, Liabilities & Owner Equity and the analysis of the financial statements items.