Acct 557

Topics: Financial statements, Balance sheet, International Financial Reporting Standards Pages: 27 (6881 words) Published: August 22, 2013

Quarter – Winter 2013

Day/Time – Tuesdays, 6:00p.m.-10:00p.m.

Instructor – Timothy E. Carr, CPA

Instructor Email:

Instructor Phone: 901-359-8408

Instructor Office Hours – By Appointment


This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle, financial reporting, financial statements analysis, ratio calculation and interpretation, and management decision making based on financial results.


Required Resources

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Financial accounting. (8th ed.). Hoboken, NJ: John Wiley & Sons.

WileyPLUS will be used in this course and is integrated with the online course shell. Students are emailed a registration code for this product when they purchase new course materials from MBS Direct Bookstore, located at

Supplemental Resources

Adler, J. (2012). When do we hold the accountants accountable? Strategic Finance, 93(12), 48-51.

Kelso, K. (2011). Building blocks of a successful financial close process. Journal of Accountancy, 212(6), 18-21.

Lamoreaux, M. (2012). A new system for recognizing revenue. Journal of Accountancy, 213(1), 30-35.

1. Examine accounting principles and concepts used in businesses. 2. Prepare and record financial transactions in the accounting cycle according to Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) accounting methodology. 3. Prepare and analyze financial statements including the balance sheet, income statement, and statement of cash flow according to GAAP and IFRS. 4. Examine inventory costing and valuation according to GAAP and IFRS. 5. Assess appropriate internal controls, regulatory requirements according to the Sarbanes-Oxley Act, and fraud prevention and detection. 6. Analyze how IFRS accounting methods are applied to asset valuation and liabilities. 7. Analyze the accounting for corporation requirements related to stock valuation, dividends, and retained earnings. 8. Determine how to value investments and how to report them based on that valuation. 9. Calculate financial ratios, interpret results, and draw conclusions. 10. Use technology and information resources to research issues in financial accounting. 11. Write clearly and concisely about financial accounting using proper writing mechanics.


The standard requirement for a 4.5 credit hour course is for students to spend 13.5 hours in weekly work. This includes preparation, activities, and evaluation regardless of delivery mode.

|Week |Preparation, Activities, and Evaluation |Points | |1 |Preparation | | |Jan 8th |Reading(s) | | | |Chapter 1: Accounting in Action | | | |e-Activity | | | |Use the Internet to research companies who have been publicly exposed due to an illegality or impropriety in | | | |accounting methods. Be prepared to discuss. | | | |Activities...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • ACCT Essay
  • ACCT Project Essay
  • Essay on acct
  • Essay about Acct
  • advanced acct ch1 Essay
  • Acct 101 Essay
  • Acct 505 Essay
  • ACCT Research Paper

Become a StudyMode Member

Sign Up - It's Free
Planet der Affen | Пожары | Joe Mantegna