10280 Introduction to Accounting 1

Credits: 6 intermediate credits in Management

Prerequisites: none

Recommended: Introduction to Microeconomics

Author: Joseph Aharoni, Doron Israeli

The course is designed to introduce students to the basic principles of financial accounting and financial reporting, to enable them to understand financial statements of a business entity, and to develop their ability to analyze them. To achieve these goals, students are introduced to the process of collecting and processing financial data according to Generally Accepted Accounting Principles (GAAP) as the basis for preparing financial statements. The course is updated according to International Financial Reporting Standards (IFRS).

Topics: Theoretical principles of accounting and financial reporting; Measuring revenues and their presentation in financial statements; The balance sheet – a report of the financial situation; The accounting process for preparing financial statements; Current assets – cash, receivables and short term investments, inventory; Fixed tangible and intangible assets; Liabilities; Equity; Statement of cash flows; Held-to-maturity investments; Introduction to financial statement analysis.

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1There is some overlap in the content of this and other courses. For details, see Overlapping Courses.