| CODE | AET3902 |
| TITLE | Financial Accounting (MGMT210) |
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course |
| MQF LEVEL | 6 |
| ECTS CREDITS | 6 |
| DEPARTMENT | Institute of Aerospace Technologies |
| DESCRIPTION | This course introduces the student to accounting information systems and financial reports. Included are accounting concepts and analysis and interpretation of financial reports, with an emphasis on the operating activities of aviation related businesses. Study-unit Aims: This course is a required course for the Associate of Science and the Bachelor of Science degree programs in Technical Management, the Bachelor of Science degree program in Professional Aeronautics. It is also a required course in the Minor program in Management and an elective course in all degree programs permitting open electives. The student will learn how to use basic accounting information and financial reports in business decision making, incorporating the operating, financing, and investing activities of a business. Learning Outcomes: Upon course completion, students will be able to: 1. Explain how accounting is the system that produces information for business decisions; 2. Demonstrate the ability to determine how financial transactions affect the financial reports; 3. Classify financial transactions as operating, investing, and financing activities; 4. Recognize the order of assembling data in the accounting system and prepare financial statements using a manual and/or computerized system; 5. Discuss the purpose, form, and content of financial statements through written and verbal communications emphasizing issues dealing with ethics and values; 6. Analyze the differences between accrual accounting and cash flows especially the difference between cash flow and revenue/expense recognition; 7. Explain the relationship between the valuations of assets: including inventory, receivables and other assets and the measurement of net income; 8. Compare depreciation methods and understand the factors affecting the choice of method and impact of changes in the estimate of the asset-life or residual value; 9. Distinguish between the characteristics of liability and equity accounts and determine the effects of business transactions involving liabilities and equity on the financial statements. Further information is available to students on the ERAU platform. Main Text/s and any supplementary readings: Required Course Materials Horngren's Financial & Managerial Accounting, The Financial Chapters Plus. MyAccountingLab. Edition: 6th. Year: 2018. ISBN: 978-0-13-467458-2. Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura. Publisher: Pearson. Note: The ISBN above is for the paperbound book with access card package. For access only to the eText and MyAccountingLab, use ISBN 978-0-13-446165-6. Suggested Course Materials Publication Manual of the American Psychological Association. Edition: 6th. Year: 2010. ISBN: 978-1-4338-0561-5. Author: American Psychological Association. Publisher: American Psychological Association. Note: For further information, see the APA website. |
| STUDY-UNIT TYPE | Online Learning |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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