This course introduces the reporting of transactions for plant assets, liabilities, accounting for corporations, investments, statements of cash flows, time value of money, payroll accounting, and other significant liabilities.
Prepare journal entries to account for transactions related to accounts receivables and bad debt using both the percentage of sales and the percentage of receivables methods.
Identify the entries associated with the acquisition, disposal, and sales of plant assets.
Calculate depreciation and amortization expense using various methods.
Identify an account for accounts payable, notes payable, and accrued expenses.
Prepare necessary journal entries for payroll transactions.
Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.
Equity and Investments
Explain the characteristics of a corporation and the different types of stocks issued by corporations.
Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends.
Examine stock dividends and stock split transactions.
Record treasury stock transactions.
Statement of Cash Flows and Cash Versus Accrual Basis
Differentiate between accrual basis and cash basis accounting.
Prepare a statement of cash flows using both the indirect and direct methods.
Examine the impact of inventory valuation expense using various methods.
Analyze the impact of elements in the cost of goods sold calculation.
Record the transactions that involve the purchase and sale of merchandise.
Calculate ending inventory value using the LIFO, FIFO, and average cost methods.
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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.