ACCT 201 Chapter 5 Study Plan Sec 001, 002
Before Class on February 23:
Read Entire Chapter Before Class
Complete Learn Chapter 5 Smart Pre-Test
Complete Chapter 5 Pre-Class Exercises
Print off Homework
Print of Chapter 5 Outline
The Accounting Cycle: During the Period
PART A MEASURING BUSINESS ACTIVITIES
LO1 Identify the basic steps in measuring external transactions.
A. External transactions are transactions between the company and separate economic
Receivables and Sales
PART A RECOGNIZING ACCOUNTS RECEIVABLE
LO1 Recognize accounts receivable.
A. Companies record an asset (accounts receivable) and revenue when they sell products and
services to their customers on account, expecting payment
PART A CURRENT LIABILITIES
LO 1 Distinguish between current and long-term liabilities.
A. _, current liabilities are payable within one year
a. Operating cycle longer than a year? (Winery, p. 370; builders, airplane makers
ACCT 201 Sec 001/002
Chapter 1 Study Plan
Before Class on January 12:
1. Watch syllabus video
Before Class on January 14:
1. Read all of Chapter 1
2. Print Chapter 1 Lecture Outline (Blackboard)
3. Print Chapter 1 Homework (CONNECT)
4. Learning Objectives
PART A OVERVIEW OF LONG-TERM DEBT
LO 1 Explain financing alternatives.
A. Companies obtain external funds through
a. Debt financing (liabilities)
Time Value of Money
LO1 Contrast simple and compound interest.
A. _ is interest you earn on the initial investment only.
B. To what amount will a $500 deposit grow, assuming 10 percent annual interest paid semiannually,
three years, and simple