Accounting Fundamentals

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  Curs on-line
  9 ore
Predare in limba: Engleza
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Structura cursului

Basic Accounting Principles and Framework

  • recognize key concepts about accounting

 

  • recognize principles underlying the preparation of financial statements

 

  • recognize basic accounting practices and their descriptions

 

  • recognize the importance of common accounting practices

 

  • identify the main characteristics of IFRS

 

 

 

The Accounting Equation and Financial Statements

  • determine how given transactions affect the accounting equation

 

  • determine how common transactions affect specific accounts using the debit and credit rule

 

  • recognize key characteristics of financial statements

 

  • recognize the key relationships between financial statements

 

 

 

The Accounting Cycle and Accrual Accounting

  • sequence an example of using the accounting cycle

 

  • match the Balance Sheet and Income Statement to the Chart of Accounts categories to which they are linked

 

  • recognize examples of various categories of accounts

 

  • recognize examples of transactions that are ignored in cash-based accounting systems

 

  • identify key characteristics of cash and accrual accounting

 

 

 

Accounting Transactions and Books of Account

  • recognize examples of correct general journal entries

 

  • recognize examples of using special journals appropriately

 

  • recognize the relationship between journals and associated general and subsidiary ledgers

 

  • post common transactions from special journals to subsidiary and general ledgers

 

 

 

Trial Balance & Adjusting Entries

  • prepare a trial balance

 

  • sequence the steps for preparing a trial balance

 

  • recognize key characteristics of several types of trial balances performed within the accounting cycle

 

  • classify adjusting entries as being accruals or deferrals

 

  • make adjusting entries

 

  • sequence the steps for closing the accounts

 

 

 

The Income Statement

  • identify key characteristics of the Income Statement

 

  • recognize examples of revenues, gains, expenses, and loss-incurring activities

 

  • calculate gross profit, operating income, and net income

 

  • recognize how common transactions affect the Income Statement

 

  • identify how the income statement interacts with the other financial statements

 

 

 

The Balance Sheet

  • recognize examples of the components of a Balance Sheet

 

  • prepare a Balance Sheet

 

  • determine how common transactions affect the Balance Sheet

 

  • recognize how the Balance Sheet connects and interacts with the other financial statements

 

 

 

The Cash Flow Statement

  • match examples of Cash Flow Statement items to the section of the Cash Flow Statement they belong to

 

  • calculate the cash balance at the end of the accounting period in a scenario-based example

 

  • identify how the Cash Flow Statement connects with the Income Statement and the Balance Sheet

 

  • recognize how common transactions affect different types of cash flows in the Cash Flow Statement

 

  • prepare a Cash Flow Statement in a scenario using the indirect method

 

 

 

Accounting for Companies' Stock Transactions and Dividends

  • identify major characteristics of incorporated organizations

 

  • identify how common equity transactions affect a corporation's financial position

 

  • record the issuance of stock in a journal

 

  • account for the purchase and sale of treasury stock using the cost method

 

  • account for transactions involving cash dividends and stock dividends

 

 

 

Outsourcing Financial Activities

 

Accounting for Sales Returns

 

Deconstructing the Balance Sheet

 

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