This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on the enterprise. Financial information is examined from the perspective of effective management decision making with special emphasis on the planning and controlling responsibilities of practicing managers.
Analyze transactions using the rules of debit and credit.
Post journal entries to the general ledger.
Define the purpose of accounting.
Identify the basic assumptions, principles, and constraints of accounting.
Explain the four basic financial statements and how they are interrelated with each other.
Starting the Accounting Cycle
Identify and calculate adjusting entries.
Prepare an adjusted trial balance.
Internal Controls, Regulatory Bodies, and Ethics
Summarize strengths and weaknesses of an internal control system.
Identify the various accounting regulatory bodies.
Examine the impact of unethical behavior on accounting practices.
Financial Statement Analysis
Perform ratio, vertical, and horizontal analysis on financial statements.
Completing the Accounting Cycle
Prepare a financial statement worksheet.
Prepare classified income statements and balance sheets, and the statement of retained earnings.
Prepare closing entries, reversing entries, and a post-closing trial balance.
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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.