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ACCT 405 Business Accounting (3 Credits)

This course covers topics such as business combinations, consolidations, how to prepare consolidated business financial statements, foreign exchange, and other current accounting issues in business environments. Students will comprehend, analyze, and work with complicated financial accounting transactions that involve multiple related entities in mergers and consolidations, international business transactions, and investments with substantial influence.

Learning Outcomes:

  • Understand the purpose of and describe the main accounting terms and statements.
  • Define and describe basic accounting terms; fixed costs, variable costs, profit, revenue, working capital, break-even.
  • Explain the purpose of budgets and cash flow forecasts and their advantages and disadvantages.
  • Explain the role, purpose and limitations of final accounts; balance sheet and profit and loss statement.
  • Explain the use of ratios to analyze business performance; gearing, current ratio and Return on Capital Employed (ROCE) in relation to risk, liquidity and profitability.