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Michael Olafusi

MIT: Financial Accounting

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You can register on MIT Opencourseware for Financial Accounting at https://ocw.mit.edu/courses/sloan-school-of-management/15-511-financial-accounting-summer-2004/

About the course

The objective of the course is to introduce the language of business and to train you in the analysis of financial statements. Accounting attempts to measure and report corporate performance. Users demand the performance measure in a variety of decisions they make. For example,

  1. Managers use accounting information in making investment decisions;
  2. Investors use accounting information in valuing stocks;
  3. Bankers rely on accounting information in deciding whether to lend money to a business and in assessing the risk of the loan; and
  4. Accounting information is crucial in evaluating the performance of employees at various levels in an organization.

In making all of these decisions, an interdisciplinary understanding of the entire business is necessary. Toward this end, the course also introduces concepts from finance and economics (e.g., cash flow discounting, risk, valuation, and criteria for choosing among alternative investments) throughout the course, which will enable students to place accounting in the context of a business.

Syllabus

SES # TOPICS
L1 Overview and Introduction to Financial Statements (PDF)

Administrative Matters, Discussion of Accounting Framework
L2 The Balance Sheet (PDF)
L3 The Income Statement and Principles of Accrual Accounting (PDF)
L4 The Accrual Accounting Process of Preparing Financial Statements (PDF)
L5 The Accrual Accounting Process of Preparing Financial Statements (cont.) (PDF)
L6 The Accounting Process
L7 Statement of Cash Flows (PDF)
L8 Statement of Cash Flows (cont.)

Financial Statement Analysis (PDF)
L9 Receivables and Revenue Recognition (PDF)
L10 Receivables and Revenue Recognition (cont.) (PDF)
L11 Inventories (PDF)
L12 Long-lived Assets (PDF)
L13 Matching Principle for PP&E (PDF)
L14 Current Liabilities and Contingencies (PDF)
L15 Time Value of Money (PDF)

Long-term Debt (PDF)
L16 Long-term Debt and Leases (PDF)
L17 Deferred Taxes (PDF)

Marketable Securities (PDF)
L18 Investments, and Business Combinations (PDF)
L19 Business Combinations and Course Review (PDF)

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