Financial and Managerial Accounting

A diagram demonstrating the conceptual framework of accounting.  Preparer's domain and user's domain are represented.

A conceptual framework for financial accounting. (Diagram by Prof. G. Peter Wilson.)


MIT Course Number


As Taught In

Summer 2003



Cite This Course

Course Description

Course Features

Course Highlights

Helping students achieve the five course challenges is a thorough set of lecture notes, complemented by class overviews and necessary handouts. A complete quiz and midterm exam are also available, with solutions.

Course Description

15.514 is an intensive introduction to the preparation and interpretation of financial information for investors (external users) and managers (internal users) and to the use of financial instruments to support system and project creation. The course adopts a decision-maker perspective on accounting and finance with the goal of helping students develop a framework for understanding financial, managerial, and tax reports. 15.514 is restricted to System Design and Management students.


Acknowledgement is hereby given to Professor G. Peter Wilson for his authorship of the following content in this course:

  • The Five Challenges (see Syllabus and Lecture 1)
  • "What Do Intel and Accountants Have in Common?" (see Lecture 1)
  • A Conceptual Framework for Financial Accounting (see Lecture 1)

Related Content

George Plesko. 15.514 Financial and Managerial Accounting. Summer 2003. Massachusetts Institute of Technology: MIT OpenCourseWare, License: Creative Commons BY-NC-SA.

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