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Introductory Accounting

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100% Online Course

In this course, emphasis is on financial statement accounting and reporting. You will be introduced to the principles and practices used by accountants in processing and reporting information, financial accounting methodology and related problem-solving skills, and to the theoretical framework upon which financial statement accounting is based. This course will enable you to develop an understanding of the information content of conventional financial statements, and the inherent limitations of accounting information.

The key to good management decisions is financial information. Indeed, financial information is often the most important factor relating to investment, planning, control, performance measurement, and other activities within a business. The person who understands and can use financial information has mastered a vital skill for dealing effectively with problems and opportunities.

This course will concentrate on helping you to understand and use accounting information as a management and investment tool. From a private sector perspective, we will study the structure of financial statements, their underlying principles, their major components, and the process by which the statements are produced from individual transactions. We will then practice using the information contained in financial statements for analyzing investments and solving several types of problems that you as a manager are likely to encounter. Although income taxes represent a major cash outflow for most firms and income tax implications are an important influence in many business decisions, the content of this course will not include in depth coverage of income taxes due to the complexity of the material.

Course Outline

Topics covered are:

  • Introduction to Accounting and Financial Statements
  • Analyzing and Recording Transactions
  • Adjusting Entries and Completing the Accounting Cycle
  • Accounting for Merchandising Activities
  • Internal Control, Receivables and Temporary Investments
  • Capital Assets, Plant and Equipment and Intangible Assets
  • Accounting for Partnerships and Corporations
  • Corporations: Dividends, Shares and Income
  • Corporations: Current and Long-Term Liabilities
  • Analyzing Financial Statements