Project #6484 - Financial Accounting

Topics covered in Chapter 1: Financial versus Managerial Accounting; Tax Accounting; Accounting as an Information system; Internal Controls; Types of users of Accounting Information; Ethics in Accounting: reliable/relevant information; Audits;


Topics covered in Chapter 2: Types and purpose of Financial Statements; Generally accepted Accounting principles (GAAP); Some Principles include business entity, cost, Going concern assumption, Objectivity; The Accounting Equation; Sole-proprietor, Partnerships, and Corporations; Adequate disclosure; Describe and importance to users (external and internal).


Topics covered in Chapter 3: The accounting cycle; Fiscal period; The journal, Ledger, Trial Balance; Debits and credit entries; Debit and credit balances; Posting; What is Net Income? Revenues? Expenses? Retained earnings? Realization Principle; Matching principle; Conservatism and objectivity; Time-period principle; Expenses covering more than one period; Accrual basis of accounting; Dividends

Subject Business
Due By (Pacific Time) 05/21/2013 05:00 pm
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