Business Administration Certificate _Accounting 1

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About Course

  • This course will introduce students to the theory and practice of accounting as applied to the accumulation, external reporting, and external uses of financial accounting information.
  • Topics covered apply to the concepts of preparing and analyzing accounting information for shareholder and management use.
  • Topics will include accounting for the liability and equity side of the balance sheet, current liabilities and payroll, partnerships, corporate structure, and transaction long-term investments, and preparation of financial statements and ratio analysis.

What Will You Learn?

  • Apply basic algebra math calculations to solve business solutions
  • Explain the importance of quantitative analysis in the decision-making process
  • Explain the role of merchandising mathematics and operations in wholesale and retailing business
  • Apply simple interest and compound interest calculations to financial instruments such as treasury bills and promissory notes.
  • Solve present value and future value problems involving simple interest or compound interest calculations
  • Solve comprehensive annuity and loan amortization problems
  • Obtain and use current currency exchange rates to calculate value in different countries
  • Analyze word problems to extract relevant data from business language and context
  • Express numerical solutions in terms of business situations
  • Use ratios and proportions to solve allocation problems
  • Develop amortization schedules to illustrate the effect of compounding interest
  • Express answers to business problems using concept-based written language
  • Use correct terminology to discuss mathematical concepts
  • Use proper expression of money, numerical values, and percentages
  • Apply, calculate, and interpret financial and business concepts to make informed business decisions
  • Understand how to apply mathematical concepts to personal and business investment and borrowing decisions

Course Content

Module I

  • Topic 1: Accounting and the Business Environment
    00:00
  • LO1: Describe the Purpose and Importance of Accounting
    00:00
  • LO2: Identify the users, uses, and opportunities in Accounting
    00:00
  • LO3: Explain why Ethics and Social Responsibility are crucial to Accounting
    00:00
  • LO4: Explain the reporting aims of Financial Statements in Business
    00:00
  • LO5: Analyze Business Transactions by applying the Accounting Equation
    00:00
  • LO6: Describe how to prepare Financial Statements reflecting Business Transactions
    00:00
  • Topic 2: Recording Business Transactions
    00:00
  • LO1: Comprehend the Accounting Cycle and define the concepts of Account and Ledger in Financial Management
    00:00
  • LO2: Define Debits, Credits, and Double-Entry Accounting
    00:00
  • LO3: List and explain the steps in Recording Transactions in a Journal
    00:00
  • LO4: Analyze the Accuracy with Trial Balance
    00:00
  • Topic 3: Measuring Business Income: Adjusting Process and Completing
    00:00
  • LO1: Explain the Purpose and Principles behind Adjusting Accounts
    00:00
  • LO2: Discuss how to adjust entries for Prepaid expenses, Depreciation, Unearned revenues, Accrued expenses, and revenues
    00:00
  • LO3: Explain Accrual-basis accounting versus Cash-basis accounting
    00:00
  • LO4: Identify and Correct the Accounting Errors
    00:00
  • LO5: Describe the Alternatives in Recording Prepaids and Unearned Revenues
    00:00
  • Quiz 1
  • Topic 4: Completing the Accounting Cycle
    00:00
  • LO1: Describe how to prepare the Worksheet
    00:00
  • LO2: Identify and explain the steps involved in the Closing Process at the end of each Accounting Period
    00:00
  • LO3: Classify the Assets and Liabilities
    00:00
  • LO4: Describe Accounting Ratios and Reversing Entries
    00:00
  • Topic 5: Merchandising Operations and the Accounting Cycle
    00:00
  • LO1: Explain Sales information to evaluate the Company’s Finance
    00:00
  • LO2: Differentiate between Periodic and Perpetual Merchandise Inventory Systems
    00:00
  • LO3: Analyze Adjustments required for accurate Financial Reporting in a Merchandising Company
    00:00
  • Topic 6: Accounting for Merchandise Inventory
    00:00
  • LO1: Identify components and costs included in the Merchandise Inventory
    00:00
  • LO2: Analyze Inventory Costing methods including Specific Identification, Moving Weighted Average, and FIFO-perpetual
    00:00
  • LO3: Evaluate the effects of the Costing methods on Financial Reporting
    00:00
  • Quiz 2
  • Topic 7: Defining Internal Controls
    00:00
  • LO1: Explain the Principles of Internal Control, Cash, and Internal Control of Cash
    00:00
  • LO2: Describe the purpose and procedures involved in Petty Cash Fund Transactions
    00:00
  • LO3: Discuss Banking activities and their control features
    00:00
  • LO4: Explain the process of Bank Reconciliation and its significance in ensuring the accuracy of financial records
    00:00
  • Topic 8: Receivables
    00:00
  • LO1: Describe Accounts Receivable and how they are created
    00:00
  • LO2: Comprehend the Allowance method of estimating Uncollectible Accounts receivable
    00:00
  • LO3: Evaluate and Optimize Payment Methods
    00:00
  • Topic 9: Property, Plant, and Equipment (PPE)
    00:00
  • LO1: Explain Cost measurement principles for Property, Plant, and Equipment
    00:00
  • LO2: Explain the Amortization for Accounting
    00:00
  • LO3: Describe Disposal of Property, Plant, Equipment, and Intangible Assets
    00:00

Final Exam

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