ACC 104 - Financial Accounting

 
Description
This course is an introduction to the basic concepts of financial accounting, including the preparation, interpretation and utilization of financial statement data. The basic principles and concepts governing the recording and reporting of accounting data, including the system of debits and credits will be covered. The course will also cover receivables, notes, inventory, depreciation, plant assets, current and long-term liabilities, as well as corporate accounting topics.

1. Prepare financial statements.
2. Determine the effects of business transactions on the elements of the financial statements.
3. Measure, record and disclose assets, liabilities, stockholders’ equity, revenues and expenses.
4. Perform basic financial statement analysis including making assessments of an entit’s liquidity, solvency and the adequacy of its profit.
5. Define accounting terminology.

 Listed Topics

1. Basic accounting equation
2. Debits and credits
3. Measuring income
4. Adjusting and closing entries
5. Financial statements
6. Accounting cycle
7. Accounting for service and merchandising transactions
8. Cash and internal control
9. Marketable securities
10. Receivables
11. Inventory
12. Plant assets and depreciation
13. Current and long-term liabilities
14. Stockholders’ equity
     

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