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Identify and define profitability and liquidity as important business goals. Furthermore, be able to justify which financial statement s is most useful for each goal.
Identify and define financing, investing, and operating activities as key business activities. Be able to give examples of each. Explain the difference between Financial and Management accounting and give examples of the types of information each provides.
Identify the key users of accounting information and explain the specific types of information each group needs. Define business transaction and the separate entity and explain the importance of each of these concepts as they relate to accounting. Explain the difference between a sole proprietorship, partnership, and corporation.
Also identify which form of ownership accounts for the most of business and which form of ownership accounts for the biggest receipts revenue.
Define financial position and clearly define each of the following key components of financial position: Clearly define the terms Revenues, Expenses, and Dividends.
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Identify and explain the key components of the following financial statements and be able to create each including proper formatting given a set of numbers: Explain the purpose of a Statement of Cash Flows and identify its key components. Define generally accepted accounting principles GAAP and explain their importance to the accounting profession and the presentation and use of financial statements.
Identify the purpose of an audit. Review homework questions and class notes.
Review the Review Problem on page Take Practice Quizzes on Cengage. Chapter 2 — Measuring Business Transactions Identify and explain the key measurement issues of recognition, valuation, and classification, including explanation of how these issues are generally solved.
Define chart of accounts, identify the key account classifications, and place classifications in their proper order.
Define double-entry accounting and state the rules for double entry. Define the terms debit, credit, T-account, normal balance, source document, general ledger, and general journal. Be able to easily identify the normal balance for each set of account classifications: Assets; Liabilities; and Stockholders' Equity.
Properly analyze, record, and post basic business transactions and show their impact on financial position.Accounting Financial Accounting has been evaluated and recommended for 3 semester hours and may be transferred to over 2, colleges and universities.
This convenient online course offers expert instruction on financial accounting essentials. Take the course at your own pace and use it to apply for transfer credit.
About the Book.
This text is intended for a first course in Intermediate Financial Accounting. It presumes that students have already completed one or two Introductory Financial Accounting courses. F. Complete the accounting cycle: journalize entries, post to general ledger, adjust accounts, and prepare financial statements.
G. Interpret various accounting data and appropriately apply basic principles of accounting to. Accounting courses are all about learning the process or work of keeping financial accounts. This article is going to provide you all the information related to the accounting courses, which includes.
Financial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter Basic Course Description Financial Accounting by Michael P. Licata, Ph.D. is a first accounting course . Accounting Guide – Coursework Writing Guide; Management Guide – PhD Skills – Dissertation Writing Guide – Economic Guide – Stages of PhD – Financial accounting Coursework helpguide.
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