Financial Accounting

  1. The Core Financial Statements
    1. The Income Statement
      1. Purpose and Users
        1. Elements of Income Statement
          1. Format Options
            1. Single-Step Format
              1. Multi-Step Format
              2. Revenue Recognition
                1. Types of Revenue
                  1. Timing of Recognition
                  2. Expense Recognition
                    1. Cost of Goods Sold
                      1. Operating Expenses
                        1. Selling Expenses
                          1. Administrative Expenses
                          2. Non-Operating Items
                            1. Interest Income and Expense
                              1. Gains and Losses
                            2. Key Income Measures
                              1. Gross Profit
                                1. Operating Income
                                  1. Income Before Taxes
                                    1. Net Income
                                    2. Earnings Per Share
                                      1. Basic EPS Calculation
                                        1. Presentation Requirements
                                        2. Quality of Earnings
                                        3. The Statement of Retained Earnings
                                          1. Purpose and Structure
                                            1. Components
                                              1. Beginning Retained Earnings
                                                1. Net Income or Loss
                                                  1. Dividends Declared
                                                    1. Prior Period Adjustments
                                                      1. Ending Retained Earnings
                                                    2. The Balance Sheet
                                                      1. Purpose and Structure
                                                        1. Classified Balance Sheet Format
                                                          1. Current vs. Non-Current Classification
                                                            1. Assets
                                                              1. Current Assets
                                                                1. Cash and Cash Equivalents
                                                                  1. Short-Term Investments
                                                                    1. Accounts Receivable
                                                                      1. Inventory
                                                                        1. Prepaid Expenses
                                                                          1. Other Current Assets
                                                                          2. Non-Current Assets
                                                                            1. Property, Plant, and Equipment
                                                                              1. Intangible Assets
                                                                                1. Long-Term Investments
                                                                                  1. Other Non-Current Assets
                                                                                2. Liabilities
                                                                                  1. Current Liabilities
                                                                                    1. Accounts Payable
                                                                                      1. Short-Term Debt
                                                                                        1. Accrued Liabilities
                                                                                          1. Unearned Revenue
                                                                                            1. Current Portion of Long-Term Debt
                                                                                            2. Long-Term Liabilities
                                                                                              1. Long-Term Debt
                                                                                                1. Bonds Payable
                                                                                                  1. Lease Liabilities
                                                                                                    1. Pension Obligations
                                                                                                  2. Stockholders' Equity
                                                                                                    1. Contributed Capital
                                                                                                      1. Common Stock
                                                                                                        1. Preferred Stock
                                                                                                          1. Additional Paid-in Capital
                                                                                                          2. Retained Earnings
                                                                                                            1. Accumulated Other Comprehensive Income
                                                                                                              1. Treasury Stock
                                                                                                              2. Balance Sheet Analysis
                                                                                                              3. The Statement of Cash Flows
                                                                                                                1. Purpose and Importance
                                                                                                                  1. Classification of Cash Flows
                                                                                                                    1. Operating Activities
                                                                                                                      1. Cash Receipts from Customers
                                                                                                                        1. Cash Payments to Suppliers
                                                                                                                          1. Cash Payments to Employees
                                                                                                                            1. Cash Payments for Operating Expenses
                                                                                                                              1. Interest and Dividend Receipts
                                                                                                                                1. Interest Payments
                                                                                                                                  1. Tax Payments
                                                                                                                                  2. Investing Activities
                                                                                                                                    1. Purchase and Sale of Property, Plant, and Equipment
                                                                                                                                      1. Purchase and Sale of Investments
                                                                                                                                        1. Lending and Collection of Loans
                                                                                                                                        2. Financing Activities
                                                                                                                                          1. Issuance and Repayment of Debt
                                                                                                                                            1. Issuance and Repurchase of Stock
                                                                                                                                              1. Payment of Dividends
                                                                                                                                            2. Preparation Methods
                                                                                                                                              1. Direct Method
                                                                                                                                                1. Advantages and Disadvantages
                                                                                                                                                  1. Preparation Steps
                                                                                                                                                  2. Indirect Method
                                                                                                                                                    1. Reconciliation Process
                                                                                                                                                      1. Adjustments to Net Income
                                                                                                                                                    2. Non-Cash Investing and Financing Activities
                                                                                                                                                      1. Cash Flow Analysis and Interpretation
                                                                                                                                                      2. Notes to Financial Statements
                                                                                                                                                        1. Purpose and Content
                                                                                                                                                          1. Summary of Significant Accounting Policies
                                                                                                                                                            1. Detailed Disclosures
                                                                                                                                                              1. Contingencies and Commitments

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                                                                                                                                                            3. The Accounting Information System and Cycle

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                                                                                                                                                            5. Accounting for Assets