xacc280 | undergraduate

Financial Accounting Concepts And Principles

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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.

This undergraduate-level course is 9 To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 9

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    Starting the Accounting Cycle

    • Contrast accrual basis accounting with cash basis accounting.
    • Calculate adjusting entries.
    • Prepare an adjusted trial balance.
    • Analyze revenue and expense relationships.

    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.

    Basic Accounting Principles and Concepts

    • 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.
    • Explain the function of each element in the accounting equation.

    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.

    Capstone Project

    • Analyze annual reports to make financial recommendations.

    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.
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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.