In this course, students focus on core values of the accounting profession such as ethical reasoning, integrity, objectivity, and independence. Topics include economics, price and consumer behavior, business and accounting issues, ethics and information technology, and professional standards.
Explain the financial market events that lead to the 1933, 1934, and SOX acts.
Analyze ethical challenges in measuring performance.
Explain the Agency Problem.
Distinguish between statements made from the perspectives of positive and normative economics.
Explain the conditions necessary for market efficiency.
Explain the economizing problem and the models used in economics.
Analyze the characteristics of the market system and how they operate.
Ethical Situations I
Analyze ethical challenges in revenue recognition.
Analyze ethical challenges in debtor-creditor relationships.
Analyze ethical challenges in bankruptcy.
Ethical Situations II
Analyze ethical challenges in business contracts.
Analyze ethical challenges for information technology.
Price and Consumer Behavior
Analyze the interaction of supply, demand, and price ceilings on the market equilibrium price.
Apply the concept of elasticity to changes in product price, consumer income, and competitor price.
Explain how the concepts of utility, income, and substitution predict consumer behavior when a price changes.
Identify professional standards and responsibilities for Certified Public Accountants.
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