Accounting Fundamentals

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  Curs on-line
  9 ore
Predare in limba: Engleza
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