Sunday, December 4, 2016

Accounting 101 at Wharton

Link to syllabus from Accounting 101 at Mike's and Trump's alma mater.

Here is the nugget:

The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them. 
The course focuses initially on how to record economic events in the accounting records (i.e., bookkeeping and accrual accounting) and how to prepare and interpret the primary financial statements that summarize a firm's economic transactions (i.e., the balance sheet, the income statement, and the statement of cash flows).

No one without this type of training should be allowed anywhere near a public policy position at any time.


Tom Hickey said...


The problem with the economics in comparison with other sciences is that the other sciences deal directly with the subject matter. — atoms, cels, etc.

Economics deals with the subject matter, the real, only indirectly through the financial and nominal records denominated in the unit of account.

Without a deep understanding of the relationship of the economic (real) to the monetary (nominal) and financial (accounting), economists are bound to make a mess of it, and many do.

Matt Franko said...

We have to constantly challenge their qualifications ... they are NOT qualified... not saying they couldnt be trained, but as of now, they are NOT qualified....

Six said...

As long as the people who employ them prefer them "NOT qualified", they will be NOT qualified.

lastgreek said...

Wasn't it an accountant who destroyed Schlitz beer? ;)