Break Course in Accounting

Instructor

• Saar Bolan, Professor of Accounting at Lis University

Course Structure

• Two Main Parts
  1. Financial Statements Basics
  2. Financial Statement Format

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Part 1: Financial Statements Basics

• Focus: Main elements of financial accounting

  • Principles and methodologies of transaction analysis
  • Financial reporting

• Study Recommendations:

  • Refer to slides on the website
  • Complete suggested exercises
  • Suggested order: Review slides first, then do exercises

• Language Considerations:

  • For students with a Bachelor in Italian:
    • Acquire English terminology for accounting terms
    • Examples: "accounts receivable" as "credity", "accounts payable" as "debting"
  • For students with a Bachelor in English:
    • Use this part as a refresher on financial accounting/reporting

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Part 2: Financial Statement Format

• Focus: Role of financial statements in the real economy

• Key Topics:

  • Role of financial statements and International Accounting Standards
  • Reducing information asymmetries
    • Between insiders (major shareholders, top managers, preparers)
    • Outsiders (minority shareholders, stakeholders, market participants)

• References & Resources:

  • Financial reporting environment in a Harvard Business case (available on the website)
  • Recommended reading: "Ray Ball paper" on pros and cons of International Financial Reporting Standards (IFRS)

• Additional Materials:

  • Accompanying slides
  • Video discussion on Worldcom accounting fraud

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Suggestions for Success

• Engage with all provided materials (slides, exercises, readings)
• Utilize online resources and recommended literature for deeper understanding

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Note: This course aims to build foundational and advanced understanding of accounting principles and their practical applications in real-world scenarios. It is suitable for both beginners seeking foundational knowledge and experienced individuals seeking a refresher.