bus503 | Graduate
Accounting And Financial Decision Making
This graduate-level course is 6 weeks To enroll, speak with an Enrollment Representative.
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Principles of Accounting
- Differentiate between accrual basis and cash basis accounting.
- Identify the four basic financial statements.
- Record transactions from journals to ledgers.
- Prepare an adjusted trial balance.
- Explain the elements of the accounting equation.
Principle Assets and Inventories
- Prepare journal entries to account for transactions related to accounts receivable and bad debt using the income statement and the balance sheet methods.
- Identify the journal entries associated with acquisition, disposal, and sales of plant assets.
- Distinguish between operational and capital expenditures, and the entries associated with each.
- Describe LIFO (Last-In, First-Out), FIFO (First-In, First-Out), LCM (Lower Cost of Market), and average cost methods.
- Analyze the impact of inventory methods on net income or loss.
Liabilities and Equity
- Differentiate among accounts payable, notes payable, and accrued expenses.
- Record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.
Completing the Accounting Cycle and Regulatory Environment
- Prepare closing entries, reversing entries, and a post-closing trial balance.
- Prepare a classified income statement, retained earnings statement, and balance sheet.
- Evaluate the need for financial statement oversight.
- Describe the impact of international financial reporting standards (IFRS) on U.S. financial reporting.
Cash Flow Statement and Financial Analysis
- Prepare a statement of cash flows using the indirect method.
- Prepare a bank reconciliation.
- Apply ratio, vertical, and horizontal analyses to financial statements.
Fundamentals of Economics
- Define economic principles.
- Differentiate between microeconomics and macroeconomics.
- Analyze the impact of changes in supply and demand on the equilibrium price and quantity in a market.
- Investigate the role of government in economic markets.
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