Accountants use the equation Assets = Liabilities + Shareholders' Equity as the basis for their balance sheets. (Image courtesy of Matthew Palmer.)
Class sessions in 15.515 are a mix of lectures, for which notes are provided, and case discussion. To perfect their financial accounting acumen, students complete homework problems, prepare exercises for class, and discuss examples in recitation.
Our goal is to help you develop a framework for understanding financial, managerial, and tax reports. The course goal is divided into five subordinate challenges that can help you organize the way you learn accounting:
The record keeping and reporting challenge
The computation challenge
The judgment challenge
The usage challenge
The search challenge
The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events generating them. Restricted to first-year Sloan MBA students.
Acknowledgment is hereby given to Professor G. Peter Wilson for his authorship of the following content in this course:
- The Five Challenges (see Syllabus and Lecture 1)
- "What Do Intel and Accountants Have in Common?" (see Lecture 1)
- A Conceptual Framework for Financial Accounting (see Lecture 1)
Special software is required to use some of the files in this course: .xls.