Course Content
A. Accounting Principles and Framework
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Purpose of financial accounting
Users of financial information
Accounting principles and assumptions (GAAP and IFRS)
Double-entry system
B. Recording Financial Transactions
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Chart of accounts
Journal entries
Posting to the ledger
Trial balance
C. Adjusting and Closing Entries
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Accruals and deferrals
Depreciation
Inventory adjustments
Break even point
Preparing financial statements
D. Financial Statements
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Income statement
Balance sheet
Statement of cash flows (basics)
Notes to the financial statements
E. Internal Controls and Ethics
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Objectives of internal controls
Segregation of duties
Fraud prevention
Ethical standards in accounting
F. Cost Concepts
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Types of costs (fixed, variable, mixed)
Direct vs. indirect costs
Product vs. period costs
G. Costing Systems
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Job order costing
Process costing
Activity-based costing (ABC)
H. Budgeting and Planning
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Purpose of budgeting
Types of budgets (operating, capital, cash)
Flexible budgets
Variance analysis
I. Decision Making
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Cost-volume-profit (CVP) analysis
Break-even point
Relevant costing
Make or buy decisions
J. Performance Evaluation
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Financial and non-financial performance measures
Responsibility accounting
Balanced scorecard (basics)
FMAA
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