Physical movements of goods leave a financial trail. Accounting is the art of capturing this trail and transforming it into meaningful information for management and other stakeholders. This course provides an introduction to accounting principles. It focuses on measuring the financial position and performance of a firm, on reporting cash flows and on analyzing financial statements.
Students learn about the purpose of accounting, principle accounting procedures, sources and recording of data, the verification of accounting records, principles of financial statements, preparation, analysis and interpretation of financial statements, international accounting standards (e.g. IFRS, US GAAP), principles and policies and their differences.