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Chapter 1 - The Foundation of
Accounting
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Lesson 1 |
The window of enterprise
Introduces
the three major financial statements and the two main
accounting equations, and reviews their uses. |
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Lesson 2 |
Introduction to the financial statements
Covers
the basics of the Balance Sheet, the Income Statement,
and the Statement of Cash Flows. |
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Lesson 3 |
Accounting definitions
Defines
Assets, Liabilities, Owners' Equity,
Expenses, and Revenue. |
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Lesson 4 |
Accounting concepts
Entity
Concept, Going-Concern Concept, stable Monetary
Concept, and Time-Period Concept. |
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Lesson 5 |
Accounting principles
Covers
the Objectivity, Cost, Revenue Recognition, Matching,
Consistency, and Disclosure Principles. |
Chapter 2 - The Balance Sheet
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Lesson 6 |
Introduction to the balance sheet
Reviews
the three sections of the balance sheet: Assets,
Liabilities and Owners' Equity. |
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Lesson 7 |
Assets overview
Discusses
current assets and non-current assets. |
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Lesson 8 |
Current assets: cash and trade accounts receivable
Takes
a closer look at Cash and Trade Accounts Receivable |
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Lesson 9 |
Current assets: inventory and prepaid expenses
Covers
Inventory, Inventory Valuation and Prepaid Expenses. |
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Lesson 10 |
Non-current assets
Presents
the following non-current assets: Property,
Plant and Equipment, Accumulated Depreciation,
Depreciation Methods, Other Assets, and Intangible
Assets. |
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Lesson 11 |
Liabilities overview
Defines
the two classifications of liabilities: Current
Liabilities and Long-term Liabilities. |
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Lesson 12 |
Current liabilities
Reviews
the Current Liabilities section of the Balance
Sheet: Accounts Payable - Trade, Accrued
Expenses, Income Taxes Payable, Notes Payable -
Short-Term, Current Maturities - Long-Term Debt. |
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Lesson 13 |
Long-term liabilities
Examines
Deferred Taxes and Long-Term Debt, Net. |
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Lesson 14 |
Stockholders’ equity
Discusses
the Stockholders' Equity section of the Balance
Sheet: Common Stock, Additional Paid-In Capital,
Retained Earnings, Preferred Stock, and Treasury
Stock. |
Chapter 3 - The Income Statement
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Lesson 15 |
Introduction to the income statement
Covers
the line items in a typical Income Statement:
Sales, Cost of Goods Sold, Gross Margin, Operating
Expenses, Operating Income, Other Income, Other
Expenses, Income Before Income Tax, Income Tax
Expense, and Net Income. |
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Lesson 16 |
Business cycles part 1
Details
the activities of the first two business cycles and
their impact on the Balance Sheet and the Income
Statement: the Investing and Financing Cycle and
the Expenditure Cycle. |
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Lesson 17 |
Business cycles part 2
Reviews
the activities of the last two business cycles and
their impact on the Balance Sheet and the Income
Statement: Conversion Cycle and Revenue
Cycle. |
Chapter 4 - The Statement of Cash Flows
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Lesson 18 |
Introduction to the statement of cash flows
Discusses
what the Statement of Cash Flows reports.
Reviews how the Statement of Cash Flows is
useful. Covers the three sections of the
Statement of Cash Flows, along with the inflows and
outflows that are included in each section. |
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Lesson 19 |
Operating activities (indirect and direct method)
Covers
the Operating Activities section of the Statement of
Cash Flows. Shows how to analyze the Operating
Activities section using the Direct and the Indirect
methods. |
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Lesson 20 |
Investing activities
Details
the transactions that are included in the Cash Flows
from Investing Activities section of the Statement of
Cash Flows. |
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Lesson 21 |
Financing activities (supplemental disclosures,
non-cash
investing and financing)
Covers
Cash Flows from Financing Activities section.
Reviews Non-Cash Investing and Financing Activities
and Supplemental Disclosures. |
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