Report on Financial Accounting, Managerial Accounting, and Auditing

This report provides a comprehensive overview of key concepts in financial accounting, managerial accounting, auditing, and corporate finance. It covers topics such as financial statement preparation, cost accounting, budgeting, audit principles, internal controls, capital structure, cost of capital, capital budgeting, financial analysis, dividend policy, and foreign exchange risk management. The report also delves into accounting for investments, leases, revenue recognition, variance analysis, responsibility centers, non-financial performance measures, differential analysis, and IFRS principles. It includes an analysis of the impact of these concepts on planning, control, and decision-making within organizations. The report is designed to provide a thorough understanding of these critical areas for students and professionals in the field of finance and accounting.

BUS 4113_ Financial Accounting I
CLO 1- Prepare financial statements with adjusting entries
CLO 2- Prepare accounting reports for merchandising business
CLO 3- Compare the various accounting treatments of current assets
CLO 4- Recommend an accounting treatment of long term assets
BUS 4133_ Managerial Accounting I
CLO 1- Use CVP analysis model to determine how profits respond to prices, costs
and volume
CLO 2- Compute unit product costs using costing systems
CLO 3- Compare the effects of absorption and variable costing on net income
CLO 4- Assess how activity based costing impacts planning, control and decision
making
CLO 5- Prepare master budgets and explain their importance in planning and
control
BUS 4123_ AUDIT
CLO 1- Explain the principles of auditing and professional standards of auditors
CLO 2- Assess audit risk and audit evidence while conducting an audit
CLO 3- Evaluate internal control policies and procedures adopted by organizations
CLO 4- Design substantive testing procedures for major transaction cycles

CLO 5- Analyze audit issues arising from the use of computerized accounting information
system
BUS 4183_ CORPORATE FINANCE:
CLO 1- Assess a company’s capital structure policy and the impact on its value.
CLO 2- Evaluate the determinants of cost of capital and their impact on the investing decisions of
the corporations
CLO 3- Assess the impact of “risk and uncertainty” on capital budgeting decisions.
CLO 4- Recommend strategies to improve financial performance using financial analysis.
CLO 5- Evaluate a company’s dividend policy and the implications on its value.
CLO 6- Recommend methods to manage foreign exchange risk in a multinational company
BUS 4153_ FINANCIAL ACCOUNTING II:
CLO 1- Recommend an accounting treatment of retired shares and buybacks.
CLO 2- Compare the different methods of lease accounting which can be used in an
organization.
CLO 3- Recommend an accounting treatment of investments that companies make in
stock and debt securities of other companies.
CLO 4- Compare and contrast the methods of revenue recognition in different businesses
BUS 4173_ MANAGERIAL ACCOUNTING II:
CLO 1- Prepare flexible budgets and compute variances based on standard costs

CLO 2- Evaluate the performance of responsibility centres
CLO 3- Assess the impact of non-financial performance measures on managerial
decision making
CLO 4- Recommend managerial decisions using differential analysis
BUS 4143_ IFRS:
CLO 1- Interpret the relevance of IFRS in the current financial reporting
environment
CLO 2- Apply IFRS principles to selected items of the balance sheet
CLO 3- Analyze selected issues on financial reporting of listed companies
CLO 4- Recommend an accounting treatment for selected issues on financial
reporting