Accounting for Public Affairs

This course provides an introduction to both financial and managerial accounting and emphasizes the analysis and evaluation of accounting information from the perspective of managers in the planning, decision-making, and control processes. The objective is to provide an overview of financial accounting and reporting, including basic accounting concepts and principles, the financial statements, financial statement analysis, and the use of AI in accounting.

The course also introduces elements of managerial accounting to develop an understanding of how accounting information can be used in internal decision-making. Topics include cost behavior and analysis, product and service costing, and relevant costs for internal decision-making.

This course is designed for students who will use accounting information to make strategic decisions in public and non-profit organizations, as well as those seeking a broad understanding of accounting and financial reporting as it relates to managers, creditors, shareholders, and other users of financial information. The focus is on the users rather than the preparers of financial information. An organization’s strategy is often predicated on the managerial team’s ability to understand the financial implications of their decisions and how those decisions impact the day-to-day activities of the operations and the foreseeable future.

The EMPA students participating in this course will be provided with a broad understanding of financial and managerial accounting, which should enable them to adapt their knowledge to careers in private, public, or non-profit management.