In order to finance long-term assets, companies issue long-term debt in the form of bonds. In accounting, we identify these promises someone makes to a business entity as an accounts receivable. This study guide is not meant to replace the readings and videos that make up the course. Completing this unit should take you approximately 11 hours.
Subsequently, the accrual basis is the foundation on which you are learning the concepts presented in this course. These study guides are intended to help reinforce key concepts in each unit in preparation for the final exam.
There is some distinction between the two methods, and while some smaller business Financial accounting course notes be able to effectively use a cash basis of accounting, most organizations use an accrual basis of accounting. Accounting Environment, Decision Making, and Theory In this introductory unit of the course, you will learn about a variety of the foundational elements of accounting that are crucial to the understanding of the material in this course.
This unit also includes other long-term assets such as natural resources and intangible assets. Completing this unit should take you approximately 8 hours.
Consider this information an exploration of the viability of accounting as an employment option and as a means of reinforcing how significant these concepts are to the success of business operations.
Statement of Cash Flows Remember that the balance sheet and income statement are prepared using the accrual basis of accounting.
The statement of cash flows classifies business transactions in to operating activities, investing activities, and financing activities. As mentioned earlier in the course, this useable information comes in the form of the financial statements. There are a number of ways to account for the purchasing and integration of this merchandise within a business, and the decision on how a business entity will account for this from an accounting perspective rests on a number of factors.
Equity is most often issued when companies begin operations to raise startup capital. Financial Reporting and Financial Statement Analysis In this unit, you will learn about financial reporting and examine the financial statements of a public company.
Completing this unit should take you approximately 18 hours. Receivables and Payables Identified During the course of regular business, it is not uncommon to provide credit to some customers.
You will also need to understand how data is captured and transformed into information and how the accounting equation seeks to ensure that you are properly recording the data.
Completing this unit should take you approximately 5 hours. Study Guides and Review Exercises Note: Choosing an inventory valuation method is a major decision a merchandising business entity will have to make even before the merchandise is purchased; it is also a decision that dictates the valuation of the merchandise on hand within the business entity.
In these types of situations, it is viable for a business entity to possess lines of credit. Completing this unit should take you approximately 22 hours. Once a business provides an extension of credit, it now owns a promise that it will be paid back.
Principles of Financeyou may learn more about the balance between debt and equity in a company. Accounting for Property, Plant, and Equipment Property, plant, and equipment require the largest amount of investment for a company.
Each unit study guide aligns with course outcomes and provides a summary of the core competencies and a list of vocabulary terms. You will now need to learn how to synthesize this information, which often requires an adjusting journal entry.Home» Courses» Sloan School of Management» Financial Accounting» Lecture Notes Lecture Notes Course Home.
Course Summary Accounting Financial Accounting has been evaluated and recommended for 3 semester hours and may be transferred to over. This financial accounting online course teaches you the fundamentals of financial. FIA FFA, Financial Accounting, Free course notes and lectures. Financial accounting vs.
management accounting The financial accountant is concerned with reporting to outsiders i.e. the shareholders/owners of the business, the Revenue and other government agencies, the banks etc.
Introduction to Accounting - Lecture Notes - Free download as PDF File .pdf) or read online for free. Scribd is the world's largest social 5/5(83).Download