Introduction to Accounting I

Learning Outcomes

On successful completion of this course, students will be able to: Explain the concepts, accounting principles as a basis in the preparation of financial statements, and all stages in the accounting cycle; Identify the differences between service and merchandising companies, explain the steps in the accounting cycle for merchandising company, and distinguish between a multiple-step and single-step income statement; Identify, record, and communicate some of the methods in accordance with Financial Accounting Standards (SAK) and International Financial Reporting Standards (IFRS) relating current asset that consists of inventories, cash, and accounts receivable; Identify, record, and communicate some of the methods in accordance with Financial Accounting Standards (SAK) and International Financial Reporting Standards (IFRS) relating noncurrent asset that consists of plant assets, natural resources, and intangible assets.

Topics

1. Accounting in Action
2. Recording Process
3. Adjusting The Accounts
4. Completing The Accounting Cycle
5. Accounting for Merchandising Operations
6. Inventories
7. Fraud, Internal Control, and Cash
8. Accounting for Receivables
9. Plant Assets, Natural Resources, and Intangible Assets