Financial Accounting

The American Business School Paris

Course Description

  • Course Name

    Financial Accounting

  • Host University

    The American Business School Paris

  • Location

    Paris, France

  • Area of Study

    Accounting, Finance

  • Language Level

    Taught In English

  • Prerequisites

    MATH 120

  • Course Level Recommendations

    Lower

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • US Credits

    3
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    COURSE DESCRIPTION :
    This course in an introduction to accounting. There are four principle objectives are to show students:
    1. that the double entry system of debits and credits is a language like any other, the verbs, nouns and notations of which can be mastered with due care and practice;
    2. that the concept of profit or net income needs to be carefully measured and adjusted (for example for costs incurred but not yet paid for). We compare and contrast the notion of profit with that of cashflow;
    3. how to prepare four elements of ?financial statements? or accounts: the income statement, balance sheet, statement of owner?s equity and statement of cashflow.
    4. that after the high-profile Enron scandal there is increasing public scrutiny on those who manage businesses to demonstrate adequate accounting controls.
    The course is designed to help students understand the language and systems of the business world, and to demystify some of the complexities commonly associated with accounting. We introduce the topical idea that accounts cannot be accurate in isolation: they require adequate systems of internal control from business managers.This course will help prepare students for employment in any business field, or keep accounts for their own start-up business!

    INSTRUCTIONAL METHODOLOGY :
    ACC 111 is presented via lectures and class tests. These will be based on the textbook and on A4-style handouts with key points and exercises

    TEXTBOOK : Reece, Warren, Duchac, Principles of Financial and Managerial Accounting,South Western-Cengage Learning, International Edition.

    EVALUATION :
    The final grade will be made up of class tests, class participation and the final examination.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.