Financial Accounting Theory

Catalog description

Students in this course will integrate financial theory into the practice of financial reporting using the FASB Accounting Standards Codification; evaluate consolidated financial statements on the basis of GAAP and IFRS accounting principles; analyze financial statements including analysis of accounts, variances, trends, and ratios; evaluate assumptions and methods underlying estimates, including fair value measures of financial statement components; evaluate financial statement reports to determine compliance with regulatory requirements; and determine appropriate accounting treatment for new or unusual transactions. Real-world problems and applications will be incorporated to maximize the development of skills valued by the market place. A biblical worldview will be integrated throughout the accounting and financial reporting process.