This course examines the conceptual framework of accounting, including cash versus accrual accounting, the income statement and balance sheet, the time value of money, revenue recognition, statement of cash flows and full disclosure issues.
Identify the roles and hierarchy of the various accounting governing bodies.
Income Statement and Revenue Recognition
Prepare single-and multiple-step income statements.
Apply the guidelines for revenue recognition to various business situations.
Balance Sheet and Full Disclosure
Prepare a balance sheet.
Explain the need for full disclosure in financial reporting.
Identify items included in the notes to financial statements.
Perform basic financial analysis using ratios.
Statement of Cash Flows
Prepare a statement of cash flows using the direct and indirect methods.
Explain the importance of the statement of cash flows.
Time Value of Money (TVM)
Calculate present and future values.
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While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Advisor.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
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