MBA@UNC | Introduction to Financial Accounting

so topic 1 is the overview of financial accounting and this is one of my favorite lectures because we’re going to be talking about things from a very very broad perspective so we’re going to start off thinking about questions about what is a company how companies come into existence why we see different organizational forms in different environments and I start off with an example from my childhood and I grew up in a small village in Cameroon which is in West Africa and we’ll talk about differences in organizational forms in those kinds of environments and then we’ll talk about why the organizational form changes as we move into developed economies and we’ll talk about the role of information in that transition and I’ll try to convince you that information is crucial for the effective managing of the firm and that the size of the firm for example is very much determined by the quality of the information system then what we’re going to do is we’re going to talk about different kinds of information systems different decision makers who need information from the firm and we’ll see that each of them demands a different kind of accounting then we’ll focus in on one particular kind of accounting which is financial reporting and that’s the reporting to the user group we’re going to be interested in which is exclusively the investors in the firm in order to understand those investors what we’re going to do is spend some time thinking about valuation in general because that’s the kind of problem that they’re going to need to solve with the information and then finally in this section we’re going to turn to coax financial reporting we’re going to go through their annual review and we’re going to go through their entire set of financial statements at a very overview level but just to give you a sense of the general information set that’s provided to investors and it’s going to be very much through the lens of thinking about this as an investor so we’ll look at the front end which are basically the sales documents trying to convince you to buy coke shares we’ll talk about why they’re scripted the way they are to make a compelling case and then we’ll go to the mandated disclosure the financial statements the footnotes and the associated management’s discussion and analysis and we’ll move through it very systematically always with this folk on what it is that is trying to be conveyed to the investor and why it’s important to the investor that will provide us then with a nice platform in the later sections as we move in in more detail into each one of these issues you.

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