Concordia University - ACCO 310: Financial Reporting I

This course, ACCO 310: Financial Reporting I provides an in-depth exploration of the principles and practices of financial reporting in business. The course introduces students to the accounting information system, the financial reporting environment, and the conceptual framework that underlies accounting standards. Main topics to be covered include the measurement and reporting of financial performance and position, cash flows, and revenue recognition. Students will gain a solid foundation in handling assets such as cash, receivables, inventories, and property, plant, and equipment, including aspects like depreciation, impairment, and disposal. The course also covers the treatment of goodwill and intangible assets, as well as accounting for changes and errors.

By the end of this course, students will be equipped to apply essential financial accounting concepts and evaluate business performance. They will develop an understanding of the accounting equation, financial statement elements, and asset presentation on financial statements. Additionally, students will learn to analyze and interpret financial statements, allowing them to assess business risk and make informed financial decisions. The course requires students to complete or concurrently enroll in COMM 305 as a prerequisite, ensuring they have a foundational understanding of accounting concepts.