Accounting

This is an introductory course that covers both financial and managerial accounting.  It provides the students with introductory materials to promote understanding of financial accounting information and managerial tools needed by corporate professionals as internal users of accounting information. Students will learn how to use accounting information for decision-making purposes from the user’s perspective.

* This course deals with basic accounting concepts and principles in gathering, summarizing, and reporting financial data of business organizations for the external users. Based on the understanding of these materials, the course extends to managerial accounting concepts and tools for planning and control decisions for internal users.  Successful completion of this course help you possess basic accounting knowledge and develop analytic and problem-solving skills required to manage the financial aspect of the organization.

Field Trip / Invited Speaker

Depending on the schedule and students’ interest, the instructor may be able to arrange a 2-3 hour field trip and plans for the students to get the “feel” of the accounting field. Students have an opportunity of hearing from accountants about how accountants aid in business/financial decisions, and planning/control and employment opportunities as well.  The instructor will be contacting some accountants in Korea.  Instead of the field trip, we could arrange to invite an accountant to speak in class.

• Study basic financial accounting concepts, principles, and assumptions
• Learn how to apply concepts and principles to gather and report financial information

• Obtain the general understanding of the accounting cycle and gain insights into the financial picture (condition and operations of the firm and the value of its ownership claims)

• Learn how to interpret and use reported financial information as an external user in various decision-making situations

• Learn cost basics and how product costs are determined
• Understand cost behavior and cost-volume-profit relationship and utilize various accounting information to make business decisions

• Understand how budgets are prepared and used in planning and control
•  Study measures used in management performance evaluation

* Text: Survey of Acounting, 5^th ed. by Edmonds, Edmonds, Olds, McNair, and Tsay,

2018, McGraw-Hill Irwin.

* Text: Introduction to Managerial Accounting, 8^th ed. by Brewer, Garrison and

Noreen, 2019, McGraw Hill-Irwin.

* Lecture notes (chapter outlines), practice questions, solutions for homework,

and other materials related to the course are provided by the instructor.