Although the module is a general overview of international accounting, participants are expected to understand recording of business transactions, the accounting cycle, and reporting of transactions through preparation of financial statements. All areas will be covered in the non-compulsory course on accounting basics.
1.C Communicate effectively in English (IA AACSB Grade 1.C)
4.C. Convey powerful messages using contemporary presentation techniques (IA AACSB Grade 4.C)
5.B Construct expert knowledge from cutting-edge information
5.C Employ state-of-the-art management techniques
6.A Thoroughly examine a complex business situation
6.B Synthesize multifaceted information from various sources across different functional fields
6.F Anticipate the implications of top-level decisions for the whole organization
*Demonstrate an understanding of accounting terms, concepts and principles
*Adjust accounts and complete the accounting cycle
*Discuss various methods of accounting for inventory
*Determine the cost of plant assets through different depreciation methods
*Compare and contrast US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS)
*Understand the basic functions and philosophies of the key financial statements
*Synthesize accounting theory and analysis in applied business and industry scenarios
*Enhance participant understanding on how to evaluate a company’s liquidity, solvency, cash flow, asset productivity, profitability, competitiveness, and other critical financial factors.
*Comprehend the similarities, differences and interplay between and among accounting, finance and audit
It is often stated “accounting is the language of business.” This course provides an introduction to this global language. One must understand accounting to function effectively in today’s international business world. Further, one must develop an understanding of the ethical and regulatory environment of accounting to respond to diverse business decisions and situations.
Some students specialize in accounting and other quantitative disciplines yet even those who do not will find their skills strengthened by being able to work with and explain the meaning and limitations of accounting information. Also, this course will help prepare students for employment in any business field because accounting is the global language of business.
