Financial Accounting

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Chapter 1: What is Accounting

Introduction: What Is Accounting
Accounting Defined
Users of Accounting Information
GAAP - Generally Accepted Accounting Principles
Introduction: Accounting Principles and Practices
Types of Businesses and Business Activities
Account Types
The Basic Accounting Equation
Financial Statements
Accounting in the Headlines
Ethics in Accounting
Exercises: Chapter 1
Glossary: Chapter 1A
Glossary: Chapter 1B

Chapter 2: The Accounting Cycle

Introduction: The Accounting Cycle
The Accounting Cycle
Accounts, Journals, Ledgers, and Trial Balance
General Rules for Debits and Credits
Journal Entries
Posting to the General Ledger
Preparing a Trial Balance
Exercises: Chapter 2
Glossary: Chapter 2
Debit and Credit Review

Chapter 3: Completion of the Accounting Cycle

The Accrual Basis and Cash Basis of Accounting
Classes and Types of Adjusting Entries
Adjusting for Accrued Items
Adjusting for Deferred Items
Preparing an Adjusted Trial Balance
Preparing Financial Statements
Closing Entries
Accounting in the Headlines
Glossary: Completing the Accounting Cycle
Exercises: Chapter 3

Chapter 6: Accounting For a Merchandising Enterprise

Seller Entries under Perpetual Inventory Method
Seller Entries under Periodic Inventory Method
Merchandising Business
Merchandise Inventory
Adjusting Entries for a Merchandising Company
Merchandising Financial Statements
Glossary: Accounting for a Merchandising Enterprise
Journalizing Closing Entries for a Merchandising Enterprise
Inventory Methods for Ending Inventory and Cost of Goods Sold
Methods Under a Periodic Inventory System
Impacts of Inventory Errors on Financial Statements
Effects of Choosing Different Inventory Methods
Lower of Cost or Market Rule
Exercises: Unit 5
Exercises: Unit 6
Exercises: Unit 7
Accounting in the Headlines

Chapter 4: Cash

Accounting in the Headlines
Principles of Accounting Systems
Internal Control and Accounting System Design
Internal Control Structure
Cash and Internal Control
Preparing a Bank Reconciliation
Petty Cash
Accounting in the Headlines
Exercises: Chapter 4

Chapter 5: Receivables

Receivables
Subsidiary Ledgers and Control Accounts
Direct Write-Off and Allowance Methods
Estimating Bad Debts
Accounting for Credit Card Sales
Accounting for Notes Receivable
Exercises: Chapter 5

Chapter 7: Plant Assets and Intangible Assets

Long Term Assets
Entries for Cash and Lump-Sum Purchases of Property, Plant and Equipment
Methods for Computing Depreciation
Computing Book value
Asset Disposal
Journalize Entries for Trade-In of Similar Assets
Natural Resources and Depletion
Journalizing Adjusting Entries for Depletion
Intangible Assets
Exercises: Chapter 7

Chapter 8: Current Liabilities and Payroll

Accounting for Current Liabilities
Entries Related to Notes Payable
Accounting for Contingent Liabilities
Recording Transactions Related to Product Warranties
Payroll Accounting Defined
Payroll Accounting Entries
Exercises: Chapter 8

Archive: Forms of Business Organizations

Sole Proprietorships and Partnerships
Journal Entries for Partnerships
Changes to the Partners

Chapter 10: Stockholders' Equity, Earnings and Dividends

Corporations
Common and Preferred Stock
Treasury Stock
The Stockholder's Equity Section of the Balance Sheet
Journal Entries to Issue Stock
Retained Earnings: Entries and Statements
Entries for Cash Dividends
Items Reported on a Corporate Income Statement
Exercises: Chapter 10A
Exercises: Chapter 10B

Chapter 9: Long-Term Liabilities and Investment in Bonds

Long-Term Financing
Recording Entries for Bonds
Redeeming Bonds Payable
Capital Leases and Operating Leases
Accounting for Investment in Bonds
Exercises: Unit 15

Archive: Investment in Stocks

Investment of Stocks in Other Corporations
Cost Method
Equity Method
Consolidated Financial Statements
Exercises: Unit 16

Chapter 11: Statement of Cash Flows

The Statement of Cash Flows
Direct and Indirect Methods for Preparing a Statement of Cash Flows
Cash Flows From Investing and Financing
Preparing a Statement of Cash Flow
Accounting in the Headlines
Exercises: Chapter 11

Chapter 12: Financial Statement Analysis

Analyzing Comparative Financial Statements
Calculating Trend Percentages
Common-Size Financial Statements
Calculate Ratios That Analyze a Company's Short-Term Debt-Paying Ability
Ratios That Analyze a Company's Long-Term Debt Paying Ability
Ratios That Analyze a Company's Earnings Performance
Ratio Summary
Exercises: Chapter 12

Appendix: Partnerships

Sole Proprietorships and Partnerships
Journal Entries for Partnerships
Changes to the Partners
Exercises: Appendix B (revise questions)

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