Basic Cores

Importance of Accounting and accounting information, ethical standard for professional accountants, conceptual framework, double–entry system, analyzing and recording business transactions, flow of accounting data, trial balance, adjusting process, closing the books and completing the accounting cycle, preparation of the financial statements, accounting for merchandising and service organizations, voucher system, fraud, internal controls and Cash.

Purpose and major characteristics of Managerial Accounting, the reporting of manufacturing activities, cost concepts, cost accounting systems, cost-volume-profit analysis, tools for management using in short-term and long-term decision makings, preparation of master budget and Financial Statements analysis.

Theories, concepts and functions of the management process, the organization of business operations, management responsibilities, and different environments.

This course provides an introduction to the basic tools of economics and provides a rigorous framework for understanding how individuals, firms, markets, and governments allocate scarce resources. Students will learn microeconomic concepts relevant to management including; pricing decisions, risk aversion and risk sharing, moral hazard, and adverse selection. The focus of the course is on the application of economic tools rather than a purely theoretical understanding.

The legal system governing business transactions. The legal environment in which businesses operate, relating to general partnerships, limited partnerships, limited liability companies, small closely-held corporations, and large publicly-traded corporations. Topics covered include contracts, sale of goods, insurance, international law, consumer protection legislation, warranties, product liability, and other consumer law subjects.

The meanings, assumptions, concepts, roles and functions of marketing, the marketing structure, along with the processes of segmentation, selecting target markets, analyzing consumer behaviors, conducting marketing research, and preparing the marketing mix are covered in this course.

This course focuses on the effective communication within the business environment where students will learn how to write, talk and behave in entrepreneurial scenarios. The use of polished writing and formal vocabulary, as well as critical thinking, problem solving, leadership and motivational attitude are some of the skills that will be studied in this course.

Concepts and functions of human resource management, recruitment, selection, training and development, career planning, promotion, compensation, discipline, termination, merit and incentives for national and international employees.

The principles and process of strategic management, strategic planning tools, the function, control and evaluation of strategic management in profit and non-for-profit organizations as well as case study analysis.

Foundation of business finance; goals and function of finance with the tools and techniques of financial analysis for decision making and control; management of assets; financial and dividend policy and financial problem solving.

Major Requirements

Accounting principles and methods for Assets (Receivables, Investment, Inventory, Land, Property, plant and Equipment, Intangible assets and Natural resources) and Study on classifications, recognition and measurement, valuation, depreciation and amortization methods, depletion, impairment; presentation and disclosure in financial reports.

Accounting principles and methods for Liabilities (Payables, Other current and noncurrent liabilities), estimation of bad debt, provision and contingencies, Accounting for partnerships, Accounting for corporations, recognition of revenues and expenses, earnings per share both non-diluted and diluted, retained earnings, statement of cash flows and interim financial statements (completed and condensed form), presentation and disclosure in financial reports.

Conceptual Foundation of Accounting Information Systems, Control and Audit of Accounting Information Systems, Accounting Information Systems Applications, system development and strategy, system design, implementation and operation, Technology based in Accounting Systems, Enterprise Resource Planning (ERP) Software such as SAP, Oracle or QuickBooks

In depth of Cost accounting and business strategies, cost accounting for materials, labor and overhead, cost accounting under job order, process and standard costing system, cost allocations, joint products and byproducts, scrap, spoilage and defective goods, activity-based costing, Absorption costing system and Variable Costing system, cost-volume profit analysis, strategy and flexible budgets, Analysis of capital investments, target costing, Performance evaluation and transfer pricing.

Tax environment, tax planning and strategies, procedure for assessing and collecting taxes under Thai Revenue Code, Personal Income taxes, Corporate Income Taxes, Value Added Tax, special business taxes, withholding tax, stamp duties, custom duties and excise tax.

Parent and branch accounting; accounting for investment in associates and joint venture, business combination and acquisition methods; consolidated financial statements; accounting for foreign currency transition; accounting policies; changes in accounting estimation and accounting errors.

Scope of governance, corporate governance and corporate responsibilities, governance’s reporting and disclosure, law relating to accounting, International Education Standards (IES) for professional accountants, ethics and accounting professional responsibilities to both professional and wider public environment, role of professional accountant in business ethics, ethics and social responsibilities and case studies.

Accounting for debt restructuring; accounting for joint arrangement, consignment, lease contract, construction contract and non-profit organization; deferred tax; accounting for employee benefits; accounting for financial instruments; investment property; financial reporting standards for small and medium enterprises.

Principles and concepts of Corporate Income Taxes under Thai Revenue Code, differences between accounting earnings and net profit calculated from tax code, corporate marginal tax rates, disclosure of income tax in financial reports, filling out tax returns for corporations using software or by hand, rules for Thailand Board of Investment and cross border ASEAN taxation.

Financial reporting and disclosures of accounting information; procedures and tools for analyzing financial statements and other important accounting information for decision making; industrial analysis; the impacts of different accounting policies on financial statements.

Scope of auditing, role and responsibilities of certified public accountant (CPA),ethics and responsibilities of auditors, legal provision on auditing, professional auditing standard, risk assessment, audit evidence, working paper of auditor, sampling in auditing, verification of assets, liabilities, owner’s equity, revenue and expenses, digital audit and audit reports and quality control for auditing firms.

Internal Auditing Standards, role of internal audit standards, role of an internal auditor in an organization, identifying fraud, information system audit, concepts, processes and assessment of internal control and risk assessment.

Contemporary issues in Accounting

Major Electives

Use of accounting software or Enterprise Resource Planning (ERP) Software such as SAP or Oracle to record accounting transactions Material Requirement Planning (MRP), cost reallocations, assembly, finished goods inventory, work in process inventory, raw materials inventory, budgeting, forecasting and execution.

Introduction to non-profit organizations (government organizations, charities and NGO’s), grants, accounting cycle for non-profits, budgeting, and accounting for non-profits, stakeholders in non-profit organizations and preparation of financial statement for non-profit organizations compared to profit organizations.

Strategic Management accounting, control of the organization, ethical issues, external influences on organization performance, performance measurement and system design, strategic performance management, performance evaluation and corporate failure.

Recording and disclosing environmental impacts, recording an organizations environmental record, buying and selling of carbon credits, environmental stewardship, and national well-being, frameworks for applying a monetary value to companies.

Applying accounting, audit and investigation skills to assist in legal issues, identifying loopholes in technology, fraud prevention, patterns of fraud, precautionary measures, segregation of duties, enhancing controls,

identifying reasons for fraud, properly interviewing suspects and witnesses, recognize different types of fraud, methods of detecting fraud, bribery, and corruption

Accounting in the petroleum industry (oil and gas companies), acquisition, exploration, development, and production of oil and gas, cost accounting in oil and gas companies and successful efforts accounting

Hospitality concepts and procedures, financial accounting reviews, computerized and on-line system, chart of accounting for restaurants, hotel and restaurant financial statements, accounting for revenues and expenses, merchant account, forecasting and budgeting, fraud and internal control

Accounting for insurance and pension, actuarial science, recognition of assets, liabilities, equities, revenues and expenses for insurance companies, loss adjustment expense, reinsurers, benefit pensions, contribution pensions, pension disclosures on financial statements, pension expense calculation, pension assets, pension liabilities, and pension funding

Focus on the on-line business, Scope of auditing, role and responsibilities of certified public accountant (CPA), legal provision on auditing, professional auditing standard, risk assessment, audit evidence, sampling, verification of revenues, expenses, assets, liabilities and owner’s equity, digital audit and audit reports.

This course brings together the general aspects of financial management as it applies to profit-oriented enterprises. Topics include portfolio allocation, capital preservation, types of financial securities, valuation, capital budgeting, capital structure, risk, and financial planning.


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