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Table of contents
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1. Introduction to Accounting
Worksheet
Welcome!
Types of Accounting
Business Organization
Useful Information
Fundamental Accounting Equation
The Financial Statements
Sample Financial Statements - Coca Cola
2. Transaction Analysis
Worksheet
Journal Entries: Debits and Credits
Accounting Flow Intuition: BASE Formula
Journal Entries: Business Formation Example
Trial Balance
Classified Balance Sheet Components
3. Accrual Accounting Concepts
Worksheet
Accrual Accounting vs. Cash Basis Accounting
Revenue Recognition and Expense Recognition
Introduction to Adjusting Journal Entries and Prepaid Expenses
Adjusting Entries: Supplies
Adjusting Entries: Unearned Revenue
Adjusting Entries: Accrued Expenses
Adjusting Entries: Accrued Revenues
Adjusting Entries: Depreciation
Summary of Adjusting Entries
Unadjusted vs Adjusted Trial Balance
Closing Entries
Post-Closing Trial Balance
4. Merchandising Operations
Worksheet
Service Company vs. Merchandising Company
Net Sales
Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory
Perpetual Inventory - Purchases
Perpetual Inventory - Freight Costs
Perpetual Inventory - Purchase Discounts
Perpetual Inventory - Purchasing Summary
Periodic Inventory - Purchases
Periodic Inventory - Freight Costs
Periodic Inventory - Purchase Discounts
Periodic Inventory - Purchasing Summary
Single-step Income Statement
Multi-step Income Statement
Comprehensive Income
5. Inventory
Worksheet
Merchandising Company vs. Manufacturing Company
Physical Inventory Count, Ownership of Goods, and Consigned Goods
Specific Identification
Periodic Inventory - FIFO, LIFO, and Average Cost
Perpetual Inventory - FIFO, LIFO, and Average Cost
Financial Statement Effects of Inventory Costing Methods
Lower of Cost or Market
Inventory Errors
6. Internal Controls and Reporting Cash
Worksheet
Fraud and the Fraud Triangle
Sarbanes-Oxley Act
Five Components of Internal Controls
Principles of Control Activities
Limitations of Internal Controls
Petty Cash
Bank Reconciliation
Journal Entries for Bank Reconciliation
7. Receivables and Investments
Worksheet
Types of Receivables
Net Accounts Receivable: Direct Write-off Method
Net Accounts Receivable: Allowance for Doubtful Accounts
Net Accounts Receivable: Percentage of Sales Method
Net Accounts Receivable: Aging of Receivables Method
Notes Receivable
Introduction to Investments in Securities
Trading Securities
Available-for-Sale (AFS) Securities
Held-to-Maturity (HTM) Securities
Equity Method
8. Long Lived Assets
Worksheet
Initial Cost of Long Lived Assets
Basket (Lump-sum) Purchases
Ordinary Repairs vs. Capital Improvements
Depreciation: Straight Line
Depreciation: Declining Balance
Depreciation: Units-of-Activity
Depreciation: Summary of Main Methods
Depreciation for Partial Years
Retirement of Plant Assets (No Proceeds)
Sale of Plant Assets
Change in Estimate: Depreciation
Intangible Assets and Amortization
Natural Resources and Depletion
Asset Impairments
Exchange for Similar Assets
9. Current Liabilities
Worksheet
Types of Liabilities
Notes Payable
Payroll and Payroll Taxes
Sales Tax Payable
Current Portion of Long Term Debt
Contingent Liabilities
Estimated Liabilities: Warranties
10. Time Value of Money
Worksheet
Time Value of Money Equations
Using Time Value of Money Tables
11. Long Term Liabilities
Worksheet
Introduction to Bonds and Bond Characteristics
Face Value Bonds
Discount on Bonds
Premium on Bonds
Zero Coupon Bonds
Straight Line Amortization of Bond Premium or Discount
Effective Interest Amortization of Bond Premium or Discount
Redeeming Bonds before Maturity
12. Stockholders' Equity
Worksheet
Characteristics of a Corporation
Shares Authorized, Issued, and Outstanding
Issuing Par Value Stock
Issuing No Par Value Stock
Issuing Common Stock for Assets or Services
Retained Earnings
Retained Earnings: Prior Period Adjustments
Preferred Stock
Treasury Stock
Dividends and Dividend Preferences
Stock Dividends
Stock Splits
13. Statement of Cash Flows
Worksheet
Introduction to the Statement of Cash Flows
Operating Activities: Indirect Method
Operating Activities: Direct Method
Investing Activities
Financing Activities
Significant Noncash Activities
14. Financial Statement Analysis
Worksheet
Horizontal Analysis
Vertical Analysis
Common-sized Statements
Trend Percentages
Discontinued Operations and Extraordinary Items
Introduction to Ratios
Ratios: Earnings Per Share (EPS)
Ratios: Working Capital and the Current Ratio
Ratios: Quick (Acid Test) Ratio
Ratios: Gross Profit Rate
Ratios: Profit Margin
Ratios: Quality of Earnings Ratio
Ratios: Inventory Turnover
Ratios: Average Days in Inventory
Ratios: Accounts Receivable (AR) Turnover
Ratios: Average Collection Period (Days Sales Outstanding)
Ratios: Return on Assets (ROA)
Ratios: Total Asset Turnover
Ratios: Fixed Asset Turnover
Ratios: Profit Margin x Asset Turnover = Return On Assets
Ratios: Accounts Payable Turnover
Ratios: Days Payable Outstanding (DPO)
Ratios: Times Interest Earned (TIE)
Ratios: Debt to Asset Ratio
Ratios: Debt to Equity Ratio
Ratios: Payout Ratio
Ratios: Dividend Yield Ratio
Ratios: Return on Equity (ROE)
Ratios: DuPont Model for Return on Equity (ROE)
Ratios: Free Cash Flow
Ratios: Price-Earnings Ratio (PE Ratio)
Ratios: Book Value per Share of Common Stock
Ratios: Cash to Monthly Cash Expenses
Ratios: Cash Return on Assets
Ratios: Economic Return from Investing
Ratios: Capital Acquisition Ratio
15. GAAP vs IFRS
Worksheet
GAAP vs. IFRS: Introduction
GAAP vs. IFRS: Classified Balance Sheet
GAAP vs. IFRS: Recording Differences
GAAP vs. IFRS: Adjusting Entries
GAAP vs. IFRS: Merchandising
GAAP vs. IFRS: Inventory
GAAP vs. IFRS: Fraud, Internal Controls, and Cash
GAAP vs. IFRS: Receivables
GAAP vs. IFRS: Long Lived Assets
GAAP vs. IFRS: Liabilities
GAAP vs. IFRS: Stockholders' Equity
GAAP vs. IFRS: Statement of Cash Flows
GAAP vs. IFRS: Analysis and Income Statement Presentation
1. Introduction to Accounting
Welcome!
1. Introduction to Accounting
Welcome!
Next Topic: Types of Accounting
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