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 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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