Course Outline:
DEFINITION; PHASES OF ACCOUNTING; PURPOSE AND IMPORTANCE OF ACCOUNTING; USERS OF FINANCIAL INFORMATION
BUSINESS TRANSACTIONS DEFINED
ACCOUNT; CLASSIFICATION OF ACCOUNTS
o Assets
o Liabilities
o Equity
o Revenues
o Expenses
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAPs)
THE ACCOUNTING EQUATION THE THEORY OF DEBIT AND CREDIT
CHART OF ACCOUNTS THE ACCOUNTING CYCLE
o Journalizing / Preparing Accounting Entries
o Posting
o Preparing the Trial Balance
o Adjusting Entries
- Depreciation
- Amortization
- Bad Debts
- Prepaid Expenses
- Accrued Expenses
- Accrued Income
- Deferrals
o Closing Entries
o Preparing the Post-Closing Trial Balance
BASIC FINANCIAL STATEMENTS
o Preparing the Balance Sheet
o Preparing the Income Statement
o Introduction to the Statement of Changes in Equity
o Introduction to the Statement of Cash Flows
ANALYSIS OF FINANCIAL STATEMENTS
o Objectives of Financial Statement Analysis
o Types of Analysis
- Horizontal
- Vertical
- Trend
o Steps in Analyzing Financial Statements
o Financial Ratios
o Exercises: Financial Statement Analysis
Schedule:
June 24-25, 2021, Thursday-Friday
(9:00 AM - 4:00 PM)
