Order of Topics Covered:

I.Introduction and Accounting

 

            a.   What is accounting

            b.   Who uses accounting

 

II.        Basics of Accounting

 

            a.   Business Entity Concept

            b.   Cost Principle

            c.   Assets, Liabilities and Owner Equity

            d.   The Accounting Equation

            e.   Business Transactions

 

III.       Accounting Cycle

 

            a.   Debits and Credits

            b.   Recording Transactions

            c.   General Journal

            d.   Posting and Ledgers

            e.   Trial Balance

            f.    Preparation of Statements

 

IV.       Adjustments

 

            a.   Why the need for Adjustments

            b.   Kinds of Adjustments [Accruals and Deferrals]

            c.   Work Sheets

            d.   Financial Statements

V.        Closing

 

            a.   Journalizing and posting closing entries

            b.   Post-closing trial balance

            c.   Interim statements

 

VI.       Accounting for a Merchandising Enterprise

           

            a.   Purchasing and Selling Procedures

            b.   Trade Discounts

            c.   Transportation Costs

            d.   Periodic Reporting

            e.   Inventory Adjustments

            f.    Reversing Entries

 

 

VII.    Systems and Control for Cash

 

            a.   Voucher Systems

            b.   Net Purchases System

            c.   Petty Cash System

            d.   Other Cash Funds

            e.   Bank Reconciliation

            f.    Electronic Funds Transfer
g. Financial Analysis and Interpretation

 

VIII.       Receivables and Payables

 

            a.   Determining Interest

            b.   Receiving and Issuing Notes

            c.   Discounting a Note

            d.   Dishonored Notes

            e.   Estimating Uncollectible Receivables

            f.    Write-off Methods

g. Financial Analysis and Interpretation

 

IX.        Inventory Systems

 

            a.   Periodical vs. Perpetual

            b.   FIFO Method

            c.   LIFO Method

            d.   Weighted Average Method

            e.   Cost or marked, whichever is lower method

            f.    Retail Method

            g.   Gross Profit Method

g. Financial Analysis and Interpretation

 

     

X.       Plant Assets

 

            a.   Depreciation Methods

            b.   Capital and Revenue Expenditures

            c.   Disposal, sale or trade-in of plant assets

            d.   Depletion

            e.   Intangible Assets

f. Financial Analysis and Interpretation

 

XI.     Accounting Concepts and Principles

 

            a.   Business Entity

            b.   Going Concern

            c.   Adequate Disclosure

            d.   Consistency

            e.   Materiality

            f.    Conservatism             

            g.   General Price-Level Changes

 

XII.    Corporations Formation

     

            a.   Organizing a Corporation

            b.   Issuance of Common Stock

            c.   Issuance of Preferred Stock

            d.   Stock Subscriptions

            e.   Treasury Stock Transactions

            f.    Equity per Share

 

XIII.       Corporations: Additional Transactions

 

            a.   Paid-in Capital

            b.   Earnings Per Share

            c.   Stock Dividends and Splits

            d.   Retained Earnings Statement, Appropriated Retained Earnings

            e.   Prior Period Adjustments and Extraordinary Gains and Losses

           

XIV.      Financial Statement Analysis and Annual Reports

 

            a.   Solvency Analysis Ratios

            b.   Profitability Analysis Ratios

            c.   Corporate Annual Reports

            d.   Statement of Cash Flow

            e.   Currency Exchange Rate