xacc280 | undergraduate
Financial Accounting Concepts And Principles
This undergraduate-level course is 9 weeks To enroll, speak with an Enrollment Representative.
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Basic Accounting Principles and Concepts
- Explain the function of each element in the accounting equation.
- Describe financial accounting and the users of accounting data.
- Identify the basic assumptions, principles, and constraints of accounting.
- Explain the purposes of the four types of financial statements.
The Recording Process
- Analyze transactions using the rules of debit and credit.
- Define the goals of financial reporting.
- Identify the major steps in the recording process.
- Post journal entries to the general ledger.
Starting the Accounting Cycle
- Calculate adjusting entries.
- Prepare an adjusted trial balance.
- Analyze revenue and expense relationships.
- Contrast accrual basis accounting with cash basis accounting.
Preparing a Financial Statement Worksheet
- Prepare a financial statement worksheet.
- Describe the advantages of using subsidiary ledgers and special journals.
Closing the Books
- Prepare closing and reversing entries.
- Prepare a post-closing trial balance.
Completing the Accounting Cycle
- Explain the nine steps of the accounting cycle.
- Prepare income statements, classified balance sheets, and the statement of retained earnings.
Financial Statement Analysis
- Perform ratio, vertical, and horizontal analyses on financial statements.
- Make recommendations based on financial statement analyses.
- Describe career opportunities for accountants.
Internal Controls, Regulatory Bodies, and Ethics
- Describe the principles and limitations of internal controls.
- Summarize the functions of the major regulatory bodies.
- Explain the impact of unethical behavior on the profitability of a company.
- Analyze annual reports to make financial recommendations.
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