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ACCT-112 - Financial Accounting 1

Libguide for ACCT-112- Financial Accounting 1

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Chapter 2: The Recording Process

  1. Rules for Debits & Credits
  2. Why are the Rules of Debits & Credits Backwards?
  3. The Periodicity Assumption
  4. Accounting Cycle Step 1: Analyze Transactions
  5. Accounting Cycle Step 2: Journalize Transactions
  6. Accounting Cycle Step 3: Post Transactions
  7. Accounting Cycle Step 4: Unadjusted Trial Balance
  8. A webinar for quick explanation

Chapter 3: Adjusting the Accounts

  1. Adjusting Entries: Supplies  
  2. Example – Adjusting Entries: Prepaid Rent
  3. Adjusting Entries for Prepaid Expenses
  4. Adjusting Entries: Depreciation
  5. Adjusting Entries for Amortization and Depreciation
  6. Adjusting Entries: Unearned Revenue
  7. Adjusting Entries for Unearned Revenue
  8. Adjusting Entries: Accrues Salaries Expense
  9. Adjusting Entries for Accrued Expenses
  10. Accrued Revenue
  11. Adjusting Entries for Accrued Revenues
  12. Accounting Cycle Step 5: Adjusting Entries Overview
  13. Accounting Cycle Step 6: Adjusted Trial Balance (Sole Proprietorship)
  14. Accounting Cycle Step 7: Single-step income statement
  15. Accounting Cycle Step 7: Statement of Owner’s Equity
  16. What are Financial Statements?

 

Chapter 4: Completion of the Accounting Cycle

  1. Accounting Cycle Step 8: Closing entries to income summary
  2. How to prepare closing entries?
  3. Accounting Cycle Step 9: Post-Closing Trial Balance
  4. Accounting Cycle Step 7 : Classified Balance Sheet (sole Proprietorship)
  5. Accounting Cycle Step 7: Classified Balance Sheet (Corporate)
  6. Preparation of adjusted trial balance
  7. Financial Accounting: Working Capital    
  8. Financial Accounting: Current Ratio
  9. Financial Accounting: Acid-Test Ratio

Chapter 5: Accounting for Merchandising Operations

  1. Financial Accounting: Merchandising Operations              
  2. Financial Accounting: Perpetual Buyer
  3. Financial Accounting: Perpetual Seller
  4. Sales Revenue – With discount
  5. Sales revenue – no discount
  6. Sales returns and allowances
  7. Adjusting & Closing Entries to Income Summary (perpetual Method)
  8. Periodic Buyer
  9. Adjusting & Closing Entries to Income Summary (Periodic Inventory)
  10. Financial Accounting: Multi-step income statement
  11. Financial Accounting: Net sales and gross profit 
  12. Multi step Income Statement

Chapter 6: Inventory Costing

  1. Financial Accounting: Determine Physical Units of Inventory
  2. Financial Accounting: Overview of Inventory Valuation
  3. Financial Accounting: Specific Unit Costing
  4. Financial Accounting: perpetual – FIFO valuation
  5. Financial Accounting: Perpetual – Moving Average
  6. Financial Accounting: Periodic – FIFO Valuation
  7. Financial Accounting: Periodic – Weighted Average
  8. Financial Accounting: apply lower of cost or market rule
  9. Financial Accounting: Inventory Turnover
  10. Inventory Turnover Example

Chapter 7: Internal Control and Cash

  1. Financial Accounting: Objectives, Components and Limitations of Internal Control
  2. Financial Accounting: Fraud & Sarbanes–Oxley Act of 2002
  3. Financial Accounting: Internal Controls for Cash Receipts & Payments
  4. Financial Accounting: Petty cash account
  5. Financial Accounting: Bank Reconciliation Overview
  6. Financial Accounting: Bank Reconciliation Book Side Example
  7. Financial Accounting: Bank Reconciliation Bank Side Example
  8. Financial Accounting: Bank Reconciliation Adjusting Entries
  9. AC200 CH7 LO10 Bank Reconciliation

Chapter 8: Accounting for Receivables

  1. Financial Accounting: Types of Receivables
  2. Introduction to allowance method and uncollectible accounts
  3. Financial Accounting: Allowance Method
  4. Aging of Receivables Method
  5. Percent of Sales Method
  6. Financial Accounting: Accounts Receivable Turnover
  7. Financial Accounting: Days' Sales in Receivable

Chapter 9: Long-lived Assets

  1. Long Term Assets
  2. Cost of Plant Assets
  3. Capital Expenditures
  4. Lump Sum Purchase of Assets
  5. Straight Line Depreciation Example
  6. Units of Production Depreciation Example
  7. Overview of Depreciation
  8. Straight line Depreciation Method
  9. Double-Declining Balance Depreciation Method
  10. Units of Production Depreciation Method
  11. Sale of asset -- gain or loss
  12. Depletion Expense example
  13. Financial Accounting: Asset Turnover Ratio
  14. Asset Turnover Example
  15. Financial Statements: Return on Assets
  16. Return on Assets – Example
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