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Financial Accounting and Reporting I: Home

The primary aim of Financial Accounting is to provide students with an introduction to the process and function of financial reporting.



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Course Description

Students develop the skills necessary to prepare and analyze the financial statements of a public corporation. Topics include the conceptual framework; accounting standards; the accounting cycle; financial statements; internal control and bank reconciliations; short-term investments and receivables; inventory; long-term assets including intangibles; liabilities including bonds payable; shareholders' equity, dividends, and share repurchases; comprehensive income and the statement of shareholders' equity; statement of cash flows; and financial statement analysis. The course emphasizes interactive case discussions based on analysis of actual companies’ financial statements. Accordingly, the course provides an opportunity to develop skills necessary to critically evaluate firms’ actions and the efficiency with which they have managed their resources

Learning Outcomes

  1. Read and interpret Accounting Standards/Principles while preparing the Financial Statements. (CLO1: Knowledge)
  2. Understand the relevance of financial accounting to internal and external stakeholders through analysis of financial statements. (CLO2: Knowledge)
  3. Identify and apply principles and regulations relating to financial accounting and the preparation of financial statements through analytical Softwares e.g., Quick Book, Excel, Access, & SAS. (CLO3: Skills)
  4. Apply the processes of recognition, measurement and disclosure of accounting information in the preparation of general-purpose financial statements. Critically analyses and interpret case information and be able to develop a convincing argument to present their views on relevant accounting issues. (CLO4: Skills)
  5. Work in a group to solve real-world problems and communicate with the experts in understanding of issues relating to the preparation of financial statements. If required consult with such companies to help them to solve their problems. (CLO5: Attitude)

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Information Advisor

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Muhammad Arif Raza
Information Services Department
Riphah International University
G-7/4, Islamabad

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