ACCTG 211 – 001: FINANCIAL & MANAGERIAL ACCTG FOR DECISION MAKING
THE PENNSYLVANIA STATE UNIVERSITY UNIVERSITY COLLEGE – YORK CAMPUS
FALL 2024 SYLLABUS
*This is a “WEB” asynchronous course, no in person meetings*
Instructor: Megan A. Lorenz, M.S. Email: [email protected] Phone: 717-718-6785 Class Times: WEB COURSE Office Hours: W 12:00PM – 2:00PM Office: ISTC 217
* https://psu.zoom.us/my/meganlorenz I will also hold zoom office hours on T from 1:00PM– 2:00PM
*All Exams require Webcam usage in this course, utilizing CHROME browser.
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The objective of this course is to introduce students to the discipline of accounting through an introduction to two of accounting's sub-disciplines, financial and managerial accounting. The more specific purpose is to provide students a basic understanding of the role of financial and managerial accounting information in the decisions of capital market participants external to a business enterprise (e.g., stockholders, banks, financial analysts, prospective stockholders), and in the decisions of those who manage business enterprises. Accounting information has a key role in the resource allocation process in our socio-economic system, as well as in each individual business enterprise. This course provides students an understanding of (1) the nature of the accounting function, and (2) how the information in accounting reports are used by various decision makers in their resource allocation decisions. This introductory course in financial and managerial accounting is for students from a variety of backgrounds. This course is an important background course for all business majors, as well as for numerous non-business majors.
In this course students will develop an understanding of (a) the five activity dimensions of accounting (the collection, recording, analysis, interpretation and reporting of information to decision makers for (mainly) their investment decisions), (b) the issues surrounding the five activity dimensions, (c) the environment in which accounting is practiced, and (d) what information is used in a number of specific decision situations, and how such information is used in such decision situations. The analysis, interpretation and decision-making orientation of this course includes a study of the procedural (mechanical and processing) aspects of the recording activity dimension which is an important means to the end --where the end is the analysis and interpretation of the information, and the reports produced by the recording/processing part of accounting. Through this focus on the recording activity dimension, students will obtain an understanding of (a) the nature and quality (strengths and weaknesses) of accounting information, (b) how to proceed in analyzing and interpreting accounting information, and (c) numerous other aspects of financial and managerial accounting.
• Produce the various types of budgets and analyze the resultant variances.
REQUIRED COURSE BOOKS AND MATERIALS
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Financial and Managerial Accounting for Decision Making, Wild, 9TH Edition |
CONNECT: |
McGraw-Hill CONNECT Homework Manager **See Below Homework |
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Basic Calculator |
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