This course explores the topic of using financial data to make business decisions and to evaluate performance in the fast-moving information age. Students will learn to use the balance sheet, the income statement, the statement of cash flows, and the statement of retained earnings as tools for evaluation and analysis. Students will investigate a wide range of related topics including:
- Accruals and deferrals
- Cash, receivables, and payables
- Long-term operational assets and long-term debt
- Equity transactions
Students in this course will participate in Forum discussions and solve realistic accounting problems. To complete assignments in this course, students must have access to Microsoft Excel® or equivalent spreadsheet software.
Course Learning Objectives
- Discuss a variety of ethical cases regarding financial accounting issues.
- Prepare an income statement, a retained earnings statement and a balance sheet.
- Journal, post transactions and prepare a trial balance.
- Complete all steps in the accounting cycle.
- Compute ending inventory, prepare income statements, and answer questions using FIFO and LIFO.
- Compute bad debt amounts.
- Compute depreciation under different methods.
- Journal, post transactions and prepare stockholders' equity section.
- Prepare statements of cash flows using the direct and indirect method.
Microsoft Excel® or compatible spreadsheet software is required to complete assignments in this course.