Courses covered:
Principles of Accounting
Financial Accounting
College Accounting
Pre-requisite for Intermediate Accounting

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• High-speed Internet connection (recommended but not required)
• PC - Windows XP or higher, Internet Explorer (7.0 or higher); Firefox (2.0 or higher)
• Mac - OS X (10.2 or higher), Firefox (2.0 or higher), Safari (1.0 or higher)
• Screen resolution setting at 1024 x 768
• Macromedia Flash 7 or higher
• Adobe Acrobat Reader 7.0 or higher (support documents)

Topics covered:

> Transaction Analysis
Understand the effect of various types of transactions on the accounting equation, accounting journal and accounting ledger.

> Adjusting Entries
Learn about accrual-based accounting and how to adjust balance sheet and income statement accounts to allocate revenues and expenditures to the period in which they occurred.

> Financial Statement Preparation
Understand the trial balance and how to prepare the income statement, statement of retained earnings (statement of owner's equity for proprietorships) and balance sheet.

> Inventories and Cost of Goods Sold
Understand the FIFO, LIFO and weighted average cost flow models and how businesses use them to calculate the cost of goods sold. Learn how these inventory costing methods affect the company's financial statements.

> Accounting for Receivables
Learn how to record activities related to accounts receivable and adjust for bad debts using the percentage of credit sales, percentage of receivables and aging of receivables methods.

> Plant Assets
Learn how to prepare adjusting entries for depreciation of plant assets using the straight-line, units-of-production and double-declining - balance methods. Learn how each of these depreciation methods affect the company's financial statements.

> Stockholders' Equity
Learn how to record journal entries for stock and dividend transactions and understand the impact on the company's financial statements.

> Long-Term Liabilities
Learn how to record journal entries for notes and bonds over multiple years and understand the impact on the company's financial statements.

> Statement of Cash Flows
Learn how to classify business activities as operating, investing or financing and the concepts and steps required to prepare the statement of cash flows using the indirect method.

> Cost-Volume-Profit
Understand key concepts that relate price, cost, sales volume and net income. Learn about behavior of revenue and costs, contribution margin, break-even point, targeted profit analysis and margin of safety.