● Introduction: What is accounting, The building blocks of accounting, The basic accounting
equation
● Accounting in Action: Using the accounting equation, Financial statements
● The Recording Procedure: The account, Steps in the recording process, The Journal, The
ledger, The trial balance, Limitations of the trial balance, Locating errors
● Adjusting the Accounts: Timing issues, The basics of adjusting entries, The basics of
adjusting entries, The adjusted trial balance, The adjusted financial statements
● Completion of Accounting Cycle: Steps in preparing a worksheet
● Preparing financial statements from a worksheet
● Preparing adjusting entries from a worksheet, Closing the books
● Completion of Accounting Cycle: Summary of the accounting cycle, The classified balance
sheet, Current assets, Long-term investments, Property, plant and equipment, Intangible
assets, Current liabilities, Long-term liabilities, Owner’s equity
● Merchandising Operations: Definitions, operating cycles, Inventory system,
Merchandising entry, Preparation of Multiple-step Income Statement:
● Accounting Information’s systems: Basic concepts of accounting information’s systems
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● Subsidiary ledgers, Sales journal, Cash receipts journal, Purchases journal, Cash payments
journal, Effects of special journals on general journal
● Accounting of Plant Assets, Natural Resources: Plant Assets, Determine the cost of plant
assets Depreciation, Expenditure during useful life, Natural Resources-depletion,
Intangible Assets
● Financial Statement Analysis: Basics of Financial Statement Analysis, Horizontal
Analysis, Vertical Analysis, Ratio Analysis