Communications Management
What Should Decision Makers Know?
USD 10.00
Learning Objectives:
- Explain the comparison of financial accounting to the painting of a portrait.
- Understand the reasons why financial accounting information does not need to be exact.
- Define the term "material" and describe its fundamental role in financial accounting.
- Define the term "misstatement" and differentiate between the two types of misstatements.
- Discuss the challenge created for financial accountants by the presence of uncertainty.
- List examples of uncertainty that a financial accountant might face in reporting financial information.
- Explain how financial accounting resembles a language.
- Describe the purpose of U.S. generally accepted accounting principles (U.S. GAAP) and the benefits that these rules provide.
- Explain the importance of U.S. GAAP to the development of a capitalistic economy.
- Understand the role played by the Financial Accounting Standards Board (FASB) in the ongoing evolution of U.S. GAAP.
- Discuss the advantages and the possibility of switching from U.S. GAAP to International Financial Reporting Standards (IFRS).
- Define "asset" and provide examples in financial reporting.
- Define "liability" and provide examples in financial reporting.
- Define "revenue" and provide examples in financial reporting.
- Define "expense" and provide examples in financial reporting.
Other course details:
- This is an introductory course that does not require any prerequisite.
- This course can be taken on a standalone basis.
- This course is chapter 2 in the book titled "Financial Accounting".
- It provides 2 PDU (Strategic & Business Management skill) towards your PMP professional development education.
Course Features
Credits:
2 PDU
Skill section:
Strategic & Business Management
Access:
Lifetime
Questions:
15