ACC 211 - Financial Accounting [SUN# ACC 2201]

1. Demonstrate how financial accounting information is communicated through financial statements
2. Develop and record basic accounting transactions
3. Reconcile a bank statement
4. Determine the cost of goods sold and ending inventory using different inventory cost methods
5. Evaluate notes payable and determine interest expense
6. Prepare the operating activities section of the statement of cash flows using the indirect method

1. Framework for Financial Accounting
   1. Accounting as a measurement/communication process
   2. Financial Accounting Information
   3. Careers in Accounting
2. The Accounting Cycle: During the Period
   1. Measuring business activities
   2. Debit and credits effects on Accounts in the Basic Accounting Equation.
3. The Accounting Cycle: End of the Period
   1. Accrual-Basis Accounting
   2. The Measurement Process
   3. The Reporting Process: Financial Statements
   4. The Closing Process
4. Cash and Internal Controls
   1. Internal Controls
   2. Cash and Bank Reconciliations
   3. Cash Analysis
5. Receivables and Sales
   1. Recognition and Valuation of Accounts Receivables
   2. Notes Receivable and Interest
6. Inventory and Cost of Goods Sold
   1. Calculation of inventory and cost of goods sold
   2. Recording of inventory transactions
   3. Lower-of-Cost-or-Market Method
7. Long Term Assets
   1. Acquisitions
   2. Cost Allocation
   3. Asset Disposition including Sale, Retirement, or Exchange
8. Current Liabilities
   1. Current Liabilities
   2. Contingencies
   3. Liquidity Analysis
9. Long Term Liabilities
   1. Overview of Long Term Debt
   2. Pricing of a Bond
   3. Recording of Bonds Payable
   4. Other Long Term Liabilities
10. Stockholder’s Equity
    1. Invested Capital
    2. Earned Capital
    3. Reporting Stockholders’ Equity
    4. Equity Analysis
11. Statement of Cash Flows
    1. Format of the Statement of Cash Flows
    2. Preparation of the Statement of Cash Flows