Introduction to Financial Accounting

Part 1 The fundamentals of accounting: entities and balance sheets; the income statement; the accrual basis; the recording process; journals and ledgers; accounting adjustments and financial statement preparation; accounting cycle - recording and formal presentation. Part 2 Major elements of basic financial statments: sales revenue, cash and accounts receivable; valuing inventories and measuring cost of goods sold; internal control and ethics; long-lived assets and depreciation; liabilities and interest; statement of cash flows; stockholders' equity and the income statement. Part 3 Additional elements of financial statements: intercorporate investments, including consolidations; income taxes, including interperiod allocation; analysis of financial statements; financial statements - conceptual framework and income measurement.