About the Course
A study of the concepts and techniques for measurement and communication of financial information. Includes interpretation of financial statements.
- Explain the accounting process and generally accepted accounting principles.
- Describe the accounting equation and each financial statement.
- Discuss the use of a balance sheet and ratios to assess liquidity and solvency.
- Discuss use of the income statement and ratios to assess profitability.
- Explain the operations of a merchandise company and contrast that with the operations of a service company.
- Describe inventory costing under specific identification, weighted-average cost, FIFO and LIFO.
- Describe the internal controls for cash.
- Define accounts receivable, explain losses from uncollectible accounts, and describe the allowance method of accounting for doubtful accounts.
- Define accounts receivable turnover and average collection period and explain their use in the analysis and management of accounts and notes receivable.
- Discuss the nature of depreciation and illustrate three depreciation methods.
- Discuss the distinction between revenue expenditures and capital expenditures.
- Describe the nature of liabilities and define current liabilities.
- Illustrate the accounting for long-term liabilities.
- Define the corporate form of organizations and discuss its principal characteristics.
- Identify and discuss the two types of capital stock and their respective stockholder rights.
- Define the return on common stockholders’ equity, dividend yield, and dividend payout ratio and explain their use.