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BUS103: Introduction to Financial Accounting
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Course Introduction
Course Syllabus
Unit 1: Accounting Environment, Decision-Making, and Theory
1.1: The Accounting Environment
The Accounting Environment
Financial vs. Managerial Accounting
Conventions and Standards
GAAP Principles and Concepts
1.2: Accounting and Its Use in Business Decisions
Accounting and Its Use in Business Decisions
The Accounting Cycle
1.3: Financial Statements
Introducing Financial Statements
Beginners' Guide to Financial Statements
Overview of Financial Statements
1.4: Accounting Theory
Accounting Theory
1.5: Internal Controls
Fraud, Internal Controls, and Cash
Objectives, Components, and Limitations of Internal Controls
Fraud and the Sarbanes-Oxley Act of 2002
More on the Sarbanes-Oxley Act
Unit 1 Assessment
Practice Problems
Unit 1 Assessment
Unit 2: Recording Business Transactions
2.1: Debits and Credits
Recording Business Transactions
Rules of Debits and Credits
More on the Rules of Debits and Credits
Why are the Rules of Debits and Credits Backwards?
2.2: The Accounting Process
The Accounting Cycle
Principles of Accounting Transactions
Accounting Cycle Step 1: Analyze Transactions
Accounting Cycle Step 2: Journalize Transactions
Accounting Cycle Step 3: Post Transactions
Accounting Cycle Step 4: Unadjusted Trial Balance (Corporations)
Financing Your Organization
Accounting Cycle Steps 5–9
Unit 2 Assessment
Practice Problems
Unit 2 Assessment
Unit 3: Adjusting Entries
3.1: Adjustments for Financial Reporting
Adjustments for Financial Reporting
Cash vs. Accrual Accounting
3.2: Visualizing the Adjusting Journal
Adjusting Entries Overview
Completing the Accounting Cycle
Unit 3 Assessment
Practice Problems
Unit 3 Assessment
Unit 4: Completing the Accounting Cycle
4.1: Completing the Accounting Cycle
Completing the Accounting Cycle
4.2: The Closing Process
Adjusting and Closing Entries
Unit 4 Assessment
Practice Problems
Unit 4 Assessment
Unit 5: Financial Reporting and Financial Statement Analysis
5.1: Financial Reporting
Interpreting Corporate Financial Statements
Obstacles to Good Financial Reporting
Research Public Companies Through EDGAR: A Guide for Investors
How to Read a 10-K
5.2: Financial Statement Analysis
Analysis and Interpretation of Financial Statements
Vertical Analysis
Common Size Financial Statements
Horizontal Analysis
Ratio Analysis
Calculating Financial Ratios
Unit 5 Assessment
Practice Problems
Unit 5 Assessment
Unit 6: Accounting for Inventory – Measuring and Reporting
6.1: Introduction to Inventories and the Classified Income Statement
Introduction to Inventories and the Classified Income Statement
Understanding Inventory
Controlling Inventory
6.2: Measuring and Reporting Inventories
Measuring and Reporting Inventories
Determine Physical Units of Inventory
Valuing Inventory
Inventory Valuation Methods
FIFO Method
LIFO Method
Average Cost Method
Specific Cost Method
Additional Topics in Inventory Valuation
Lower of Cost or Market Value
Assessing Inventory Management
Reporting and Analyzing Inventories
Unit 6 Assessment
Introduction to Inventories Practice Problems
Measuring and Reporting Inventories Practice Problems
Unit 6 Assessment
Unit 7: Receivables and Payables Identified
7.1: Receivables and Payables
Receivables and Payables
Types of Receivables and Notes Receivables
7.2: Understanding Bad Debt and its Relationship to Receivables
Dealing with Foreign Currency and Bad Debts
Unit 7 Assessment
Practice Problems
Unit 7 Assessment
Unit 8: Accounting for Property, Plant, and Equipment
8.1: Property, Plant, and Equipment
Property, Plant, and Equipment
Overview of Long Term Assets
Cost of Plant Assets
Capital Expenditures
Calculating Depreciation
8.2: Plant Asset Disposal, Natural Resources, and Intangible Assets
Plant Asset Disposals, Natural Resources, and Intangible Assets
Accounting for Asset Disposal
Intangible Assets: Goodwill Example
Unit 8 Assessment
Property, Plant, and Equipment Practice Problems
Plant Asset Disposals, Natural Resources, and Intangible Assets Practice Problems
Unit 8 Assessment
Unit 9: Long-Term Liabilities and Stockholders' Equity
9.1: Long-Term Liabilities – Bonds
Stockholders' Equity: Classes of Capital Stock
Valuing Long-Term Bonds
9.2: Stockholders' Equity – Capital Stock
Stockholders' Equity: Classes of Capital Stock
Common Stock
Preferred Stock
9.3: Stockholders' Equity – Corporations
Corporations: Paid-in Capital, Retained Earnings, Dividends, and Treasury Stock
Treasury Stock
Dividends
Unit 9 Assessment
Practice Problems: Bonds
Practice Problems: Stockholders' Equity
Practice Problems: Corporations
Unit 9 Assessment
Unit 10: Statement of Cash Flows
10.1: Operating Activities
Analysis Using the Statement of Cash Flows
Calculating Cash Flows
Cash Flow Statement
Indirect Method
Operating Activities
10.2: Financing Activities
Financing Activities
10.3: Investing Activities
Investing Activities
Cash Flow Exercise
Unit 10 Assessment
Practice Problems: Statement of Cash Flows
Unit 10 Assessment
Study Guide
BUS103 Study Guide
Course Feedback Survey
Course Feedback Survey
Certificate Final Exam
BUS103: Certificate Final Exam
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BUS103: Introduction to Financial Accounting
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