Financial Accounting for Corporations

Want to learn a new language and keep your finger on the pulse of business? Accounting is the language of business. Be among a small percentage of business professionals who can prepare, interpret, and analyze financial statements of corporations. You will find financial accountants anywhere from the accounting department to the positions of CEO and CFO. In this course, part of the UMUC Accounting and Financial Management MicroMasters program, you will learn to prepare corporate financial statements in compliance with the U.S. Securities and Exchange Commission (SEC) and in conformance with the Financial Accounting Standards Board’s (FASB) generally accepted accounting principles (GAAP). You will learn how the FASB creates new GAAP, how to research the FASB Accounting Standards Codification system, and how to prepare and analyze financial statements including the Income Statement, Comprehensive Statement of Income, Balance Sheet, Statement of Shareholder’s Equity, and Statement of Cash Flows. An overview of accounting theory provides a foundation for applying financial accounting concepts and principles to real business issues. The course is taught within the framework of the American Association of Certified Public Accountants’ Code of Professional Conduct.