Financial Accounting, Fall 2003

Abstract:: An intensive introduction to the preparation and interpretation of financial information. Adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events generating them. Class sessions are a mixture of lecture and case discussion. Assignments include textbook problems, analysis of financial statements, and cases. Our goal is to help you develop a framework for understanding financial, managerial, and tax reports. The course goal is divided into five subordinate challenges that can help you organize the way you learn accounting: The record keeping and reporting challenge The computation challenge The judgment challenge The usage challenge The search challenge The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events generating them.

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Introduction to Financial Accounting

Abstract:: This course focuses on financial accounting, a sub-discipline of accounting. Upon successful completion of this course, the student will be able to: perform accounting computations through the critical analysis of business transactions; demonstrate an understanding of the foundational principles and objectives of accounting; illustrate the impact of business transactions through the use of the accounting equation and transforming business transactions (data) into useable information; describe the accounting cycle and be able to identify specific debits and credits, journals, t-accounts, a trial balance, and resulting financial statements; identify why adjusting entries are necessary, and be able to distinguish between various types of adjusting entries; discuss and be able to demonstrate the use of the accounting worksheet as a means of preparing the financial statements; explain and execute the closing process for a specified accounting cycle; identify the foundational accounting concepts, assumptions and principles through the analysis of specific business situations; identify and analyze accounting transactions of a merchandising company; define and solve for specific business events involving various inventory methods; define and apply the accounting elements associated with receivables and payables; identify, record, and depreciate property, plant, and equipment. This free course may be completed online at any time. (Business Administration 103)