Financial Accounting I

Learning Outcomes

On successful completion of this course, student will be able to: Explain the concepts, principles, and practices of financial reporting, Explain the purpose, scope, and limitation of financial statements, Explain how accounting information system work, Apply the accounting concept in recognition, measurement, and presentation for assets and liabilities, Prepare financial statements according to generally accepted accounting principles.

Topics

1. Financial Reporting and Accounting Standards
2. A Conceptual Framework for Financial Reporting
3. The Accounting Information System
4. Income Statement and Related Information
5. Statement of Financial Position and Statement of Cash Flows
6. Accounting and The Time Value of Money
7. Cash and Receivables
8. Valuation of Inventories: A cost-Basis Approach
9. Inventories: Additional Valuation Issues
10. Acquisition and Disposition of Property
11. Plant and Equipment
12. Depreciation
13. Impairments and Depletion
14. Intangible Assets
15. Current Liabilities