About BSAD 161 A

Study of how corporations account for and present the results of their financial activities. Emphasizes accounting for assets, current liabilities, and the related revenue and expenses. Provides overview of the four primary financial statements and accompanying notes. Prerequisites: BSAD 060, BSAD 061; Business Administration major; Business Administration or Accounting minor; minimum Junior standing.


Prereqs enforced by the system: BSAD 060 and BSAD 061; BSAD majors, BSAD, ACCT minors; Minimum Junior standing; Required course specific fee of $25; Open to Degree and CDE students

Section Description

Corporate Financial Reporting I reviews the structure of the accounting standards established by the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). Although intended primarily for accounting majors, the course also benefits those pursuing a career in corporate finance or the securities industry. The course concentrates on the basics of financial reporting and the composition and usefulness of the four basic financial statements. It uses a systems approach to address accounting and reporting issues in the sales cycle (revenue recognition, accounts receivable, including the allowance for doubtful accounts, notes receivable, cash receipts, and accruals), the purchase cycle (inventory, noncurrent assets, accounts payable, cash disbursements, depreciation and impairments); and accounting for investment securities. As such, by the end of the course, you should have a good understanding of most asset accounts, and the accounts commonly included within current liabilities. You will also be able to identify when revenue should be recognized, when various expenses are incurred, and how these activities affect the Statement of Cash Flows. Both U.S. generally accepted accounting principles (GAAP) developed by the FASB and International Financial Reporting Standards (IFRS) developed by the IASB, will be covered in the course.

Section Expectation

To be prepared for class, you must read the chapter prior to the class period in which it will be discussed. The course material is challenging, you need to be familiar with the topics and standards prior to the class discussion. During class, we will discuss the major topics, work through some sample problems, and compare the US GAAP and IFRS treatments, where applicable. Solutions to the assigned homework problems will be available through Blackboard only after the material is covered in class. It is your responsibility to make corrections to your homework. We will often talk about the business context of financial reporting.


The course grade will be determined using the following points: Term Exams (3 x 140) 420 Comprehensive Final 250 Online Homework 100 Professional Research (3) 150 Current events discussions 80 Total points 1,000

Course Dates



Kalkin Building 003 (View Campus Map)


to on Monday and Wednesday

Important Dates

Note: These dates may not be accurate for select courses during the Summer Session.

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