This course introduces accounting concepts in a business environment. Students learn to create and apply accounting documents in making better business decisions. Other topics include plant assets, liabilities, accounting for corporations, investments, statements of cash flows, financial statement analysis, time value of money, payroll accounting, and other significant liabilities.
Examine the effects of unethical behavior and the Sarbanes-Oxley Act on financial statements.
Identify situations that might lead to unethical accounting practices.
Financial Statement Analysis
Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends.
Apply ratio, vertical, and horizontal analyses to financial statements.
Prepare a statement of cash flows using both direct and indirect methods.
Equity and Investments
Record treasury stock transactions.
Calculate stocks, dividends, and stock splits.
Differentiate types of stocks issued by corporations.
Calculate depreciation and amortization expense using various methods.
Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.
Differentiate between accounts payable, notes payable, and accrued expenses.
Distinguish between revenue and capital expenditures, and the entries associated with each.
Identify the entries associated with acquisition, disposal, and sales of plant assets.
Distinguish between tangible and intangible assets.
Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables 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.