The course provides students with the basic framework of accounting practices from the perspective of nonaccounting managers. Students will look at fundamental financial and managerial accounting principles and link individual and unit operational goals to the financial requirements of an organization. Students will also understand when and how to use various analytical approaches based on the kinds of decisions needed and the particular stakeholders to be addressed.
Complete the following readings early in the module:
•Read the online lectures for the Module
•From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters: ◦Chapter 1: Introduction to Accounting
◾Chapter 1 textbook Microsoft PowerPoint slides ◦Chapter 2: Accounting and its Relationship to Shareholder Value and Corporate Governance ◾Chapter 2 textbook Microsoft PowerPoint slides ◦Chapter 3: Recording Financial Transactions and the Principles of Accounting
◾Chapter 3 textbook Microsoft PowerPoint slides More in-depth optional readings:
•From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters: ◦Chapter 4: Management Control, Accounting, and its Rational-Economic Assumptions
◾Chapter 4 textbook Microsoft PowerPoint slides ◦Chapter 5: Interpretive and Critical Perspectives on Accounting and Decision Making
◾Chapter 5 textbook Microsoft PowerPoint slides
Financial statement fraud is common these days. Phrases like “earnings management,” “cookie jar accounting,” and “accounting hocus-pocus” have entered our vocabulary. There have been innumerable instances of financial statement fraud perpetrated by many well-known companies over the years. These frauds not only result in a company’s financial loss but also damage the company’s reputation and brand and affect employee morale. In the role of a nonaccounting manager, you need to understand what your role is in the overall fair presentation of financial results.
In this assignment, you will recommend policies to avoid financial statement fraud and ensure the quality of financial statements.
•Use the Argosy University online library resources and find at least three scholarly journal articles. These articles will help you identify what can go wrong with financial reporting and how this should be prevented.
•Comment on at least three potential problems in reporting accounting information, including a specific example of earnings management. Note that all examples should be about specific company fraud.
•Articulate specific policies with respect to the discussed problems that will provide assurance that the financial statement is free from fraud and can be relied upon
By the due date assigned, post your response to the Discussion Area
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding:
•Read your answers.
•Provide substantive comments to posts by ◦contributing new, relevant information from course readings, Web sites, or other sources; ◦building on the remarks or questions; or ◦sharing practical examples of key concepts from your professional or personal experiences
•Respond to feedback on your posting and provide feedback to ideas.
•Make sure your writing ◦is clear, concise, and organized; ◦demonstrates ethical scholarship in accurate representation and attribution of sources; and ◦displays accurate spelling, grammar, and punctuation.