Advanced Financial Reporting and Ethics

This unit synthesizes advanced topics in financial accounting including presentation and analysis of cash flows, equity, and other comprehensive income; tax-related timing and deferred tax recognition; and the detection and prevention of misstatements. Students apply forensic, ethical, and sector-specific accounting principles (governmental, not-for-profit, and international) to real-world reporting scenarios and prepare final reporting workpapers and common-size analyses.

Learning Objectives

• Analyze statements of cash flows, equity sections, and accumulated other comprehensive income and prepare common-size financial statements and inventory worksheets to identify liquidity, solvency, and reporting discrepancies
• Apply accounting principles to recognize deferred tax assets and liabilities, record income tax entries, and determine proper timing and classification for expenses, stock splits, and liabilities
• Demonstrate forensic accounting and audit procedures and ethical decision-making to detect, document, and recommend corrective actions for misclassifications, deleted transactions, related-party disclosures, and other potential misstatements
• Evaluate differences in accounting and disclosure requirements across government, not-for-profit, and international entities and recommend appropriate treatments (including capitalization versus expensing) for diverse stakeholder roles