BA_ACCT 200: Introduction to Accounting (Professional)

About Course

This course covers basic accounting concepts and principles and their application to business transactions:

The accounting cycle leading to financial statement preparation
Emphasis on the balance sheet
The income statement and the statement of owner’s equity
An introductory consideration of selected asset accounts like cash, receivables, and merchandise inventory

Course Content

Module I

Topic 1: Introduction to Accounting

04:32
LO1: Describe the Purpose and Importance of Accounting

05:24
LO2: Identify the users, uses, and opportunities in Accounting

00:00
LO3: Explain why Ethics and Social Responsibility are crucial to Accounting

00:00
LO4: Summarize the GAAP and its fundamental Principles

00:00
LO5: Solve the quiz for Introduction to Accounting
Topic 2: Accounting in Business

04:03
LO1: Explain the reporting aims of Financial Statements

06:18
LO2: Analyze Business Transactions by applying the Accounting Equation

00:00
LO3: Describe how to prepare Financial Statements reflecting Business Transactions

00:00
LO4: Solve the quiz for Accounting in Business
Topic 3: Analyzing and Recording Transactions

04:35
LO1: Comprehend the Accounting Cycle and define the concepts of Account and Ledger in Financial Management

00:00
LO2: Define Debits, Credits, and Double-Entry Accounting

00:00
LO3: List and explain the steps in Recording Transactions in a Journal

00:00
LO4: Prepare and explain the use of a Trial Balance

00:00
LO5: Solve the quiz for Analyzing and Recording Transactions
Topic 4: Adjusting Accounts for Financial Statements

00:00
LO1: Explain the Purpose and Principles behind Adjusting Accounts

00:00
LO2: Discuss how to adjust entries for Prepaid expenses, Depreciation, Unearned revenues, Accrued expenses, and revenues

00:00
LO3: Describe the Alternatives in Recording Prepaids and Unearned Revenues

00:00
LO4: Solve the quiz for Adjusting Accounts for Financial Statements
Topic 5: Completing the Accounting Cycle and Classifying Accounts

00:00
LO1: Describe how to prepare Worksheet

04:02
LO2: Identify and explain the steps involved in the Closing Process at the end of each Accounting Period

00:00
LO3: Analyze the components of a classified Balance Sheet to assess Liquidity, Solvency, and Efficiency

00:00
LO4: Solve the quiz for Completing the Accounting Cycle and Classifying Accounts
Topic 6: Accounting for Merchandising Activities

00:00
LO1: Explain Merchandising and Financial Statements for a Merchandiser

00:00
LO2: Differentiate between Periodic and Perpetual Merchandise Inventory Systems

00:00
LO3: Analyze Adjustments required for accurate Financial reporting in a Merchandising Company

00:00
LO4: Solve the quiz for Accounting for Merchandising Activities
Topic 7: Merchandise Inventory and Cost of Sales

00:00
LO1: Identify components and costs included in the Merchandise Inventory

00:00
LO2: Analyze Inventory costing methods including specific identification, moving weighted average, and FIFO-perpetual

00:00
LO3: Evaluate the effects of the Costing methods on Financial Reporting

00:00
LO4: Solve the quiz for Merchandise Inventory and Cost of Sales
Topic 8: Internal Control and Cash

00:00
LO1: Explain the Principles of Internal Control, Cash, and Internal Control of Cash

00:00
LO2: Describe the purpose and procedures involved in Petty Cash Fund Transactions

00:00
LO3: Discuss Banking activities and their control features

00:00
LO4: Explain the process of Bank Reconciliation and its significance in ensuring the accuracy of Financial records

00:00
LO5: Solve the quiz for Internal Control and Cash
Topic 9: Receivables

00:00
LO1: Describe Accounts Receivable and how they are created

00:00
LO2: Comprehend the Allowance method of estimating Uncollectible Accounts receivable

00:00
LO3: Explain Short-term note receivable and its maturity date and interest

00:00
LO3: Solve the quiz for Receivables
Topic 10: Payroll Liabilities

00:00
LO1: Define Payroll Liabilities and its objective

00:00
LO2: Solve the quiz for Payroll Liabilities
Assignment

About Course

What Will You Learn?

Course Content

Module I

Topic 1: Introduction to Accounting

LO1: Describe the Purpose and Importance of Accounting

LO2: Identify the users, uses, and opportunities in Accounting

LO3: Explain why Ethics and Social Responsibility are crucial to Accounting

LO4: Summarize the GAAP and its fundamental Principles

LO5: Solve the quiz for Introduction to Accounting

Topic 2: Accounting in Business

LO1: Explain the reporting aims of Financial Statements

LO2: Analyze Business Transactions by applying the Accounting Equation

LO3: Describe how to prepare Financial Statements reflecting Business Transactions

LO4: Solve the quiz for Accounting in Business

Topic 3: Analyzing and Recording Transactions

LO1: Comprehend the Accounting Cycle and define the concepts of Account and Ledger in Financial Management

LO2: Define Debits, Credits, and Double-Entry Accounting

LO3: List and explain the steps in Recording Transactions in a Journal

LO4: Prepare and explain the use of a Trial Balance

LO5: Solve the quiz for Analyzing and Recording Transactions

Topic 4: Adjusting Accounts for Financial Statements

LO1: Explain the Purpose and Principles behind Adjusting Accounts

LO2: Discuss how to adjust entries for Prepaid expenses, Depreciation, Unearned revenues, Accrued expenses, and revenues

LO3: Describe the Alternatives in Recording Prepaids and Unearned Revenues

LO4: Solve the quiz for Adjusting Accounts for Financial Statements

Topic 5: Completing the Accounting Cycle and Classifying Accounts

LO1: Describe how to prepare Worksheet

LO2: Identify and explain the steps involved in the Closing Process at the end of each Accounting Period

LO3: Analyze the components of a classified Balance Sheet to assess Liquidity, Solvency, and Efficiency

LO4: Solve the quiz for Completing the Accounting Cycle and Classifying Accounts

Topic 6: Accounting for Merchandising Activities

LO1: Explain Merchandising and Financial Statements for a Merchandiser

LO2: Differentiate between Periodic and Perpetual Merchandise Inventory Systems

LO3: Analyze Adjustments required for accurate Financial reporting in a Merchandising Company

LO4: Solve the quiz for Accounting for Merchandising Activities

Topic 7: Merchandise Inventory and Cost of Sales

LO1: Identify components and costs included in the Merchandise Inventory

LO2: Analyze Inventory costing methods including specific identification, moving weighted average, and FIFO-perpetual

LO3: Evaluate the effects of the Costing methods on Financial Reporting

LO4: Solve the quiz for Merchandise Inventory and Cost of Sales

Topic 8: Internal Control and Cash

LO1: Explain the Principles of Internal Control, Cash, and Internal Control of Cash

LO2: Describe the purpose and procedures involved in Petty Cash Fund Transactions

LO3: Discuss Banking activities and their control features

LO4: Explain the process of Bank Reconciliation and its significance in ensuring the accuracy of Financial records

LO5: Solve the quiz for Internal Control and Cash

Topic 9: Receivables

LO1: Describe Accounts Receivable and how they are created

LO2: Comprehend the Allowance method of estimating Uncollectible Accounts receivable

LO3: Explain Short-term note receivable and its maturity date and interest

LO3: Solve the quiz for Receivables

Topic 10: Payroll Liabilities

LO1: Define Payroll Liabilities and its objective

LO2: Solve the quiz for Payroll Liabilities

Assignment

Final Exam

Final Exam: Introduction to Accounting

Quick Links

Resources

Support