Accounting

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This text was adapted by #OpenCourseWare under an Attribution-ShareAlike 4.0 International (CC BY-SA 4.0)

Chapter 1: Introduction to Accounting

  • What Is Accounting?
  • The Accounting Concept
  • Overview of Key Elements of the Business
  • Conveying Accounting Information
  • Conventions and Standards

Chapter 2: Accounting Information and the Accounting Cycle

  • The Basics of Accounting
  • The Accounting Cycle

Chapter 3: Overview of Financial Statements

  • The Income Statement
  • The Balance Sheet
  • The Statement of Cash Flows
  • Special Considerations for Merchandising Companies

Chapter 4: Controlling and Reporting of Cash and Receivables

  • Overview of Cash
  • Managing Cash
  • Overview of Receivables
  • Notes Receivable
  • Basics of Receivables Management
  • Reporting and Analyzing Receivables

Chapter 5: Controlling and Reporting of Inventories

  • Understanding Inventory
  • Controlling Inventory
  • Valuing Inventory
  • Detail on Using LIFO
  • Additional Topics in Inventory Valuation
  • Assessing Inventory Management
  • Reporting and Analyzing Inventories

Chapter 6: Controlling and Reporting of Real Assets: Property, Plant, Equipment, and Natural Resources

  • Introduction to Long-Lived Assets
  • Components of Asset Cost
  • Valuing of Assets
  • Depreciation of Assets
  • Impairment of Assets
  • Disposal of Assets
  • Depletion of Assets
  • Natural Resources
  • Reporting and Analyzing Assets

Chapter 7: Controlling and Reporting of Intangible Assets

  • Introduction to Intangible Assets
  • Types of Intangible Assets
  • Intangible Asset Impairment
  • Research & Development Cost
  • Reporting and Analyzing Intangibles

Chapter 8: Valuation and Reporting of Investments in Other Corporations

  • Approaches to Investment Accounting
  • Debt Held to Maturity
  • Debt for Sale
  • Holding Less than 20% of Shares
  • Holding 20-50% of Shares
  • Holding More than 50% of Shares (Ownership)

Chapter 9: Reporting of Current and Contingent Liabilities

  • Introduction to Liabilities
  • Current Liabilities
  • Contingencies
  • Reporting and Analyzing Current Liabilities

Chapter 10: The Time Value of Money

  • Introduction to the Time Value of Money
  • Future Value, Single Amount
  • Annuities
  • Additional Detail on Present and Future Values
  • Yield
  • Valuing Multiple Cash Flows
  • Present Value, Single Amount

Chapter 11: Reporting of Long-Term Liabilities

  • Overview of Bonds
  • Valuing Bonds
  • Bond Retirement
  • Reporting and Analyzing Long-Term Liabilities

Chapter 12: Reporting of Stockholders’ Equity

  • Understanding the Corporation
  • Stock Transactions
  • Rules and Rights of Common and Preferred Stock
  • Additional Detail on Preferred Stock
  • Dividend Policy
  • Cash Dividend Alternatives
  • Reporting and Analyzing Equity
  • Additional Topics in Stockholders’ Equity

Chapter 13: Detailed Review of the Income Statement

  • Understanding the Income Statement
  • Revenue Recognition
  • Expense Recognition
  • Additional Income Statement Considerations
  • Reporting and Analyzing the Income Statement

Chapter 14: Detailed Review of the Statement of Cash Flows

  • Cash Flow Accounting
  • Calculating Cash Flows

Chapter 15: Special Topics in Accounting: Income Taxes, Pensions, Leases, Errors, and Disclosures

  • Income Tax Accounting
  • Pension Accounting
  • Lease Accounting
  • Making Changes and Correcting Errors
  • Additional Notes on Disclosures

Chapter 16: Analyzing Financial Statements

  • Overview of Financial Statement Analysis
  • Standardizing Financial Statements
  • Ratio Analysis Overview
  • Using Financial Ratios for Analysis
  • Liquidity Ratios
  • Debt-Management Ratios
  • Profitability Ratios
  • Market-Value Ratios
  • Considering Inflation’s Distortionary Effects
  • The DuPont Equation, ROE, ROA, and Growth
  • Asset-Management Ratios
  • Other Distortions
  • Next Steps in Financial Statement Analysis