Premium Essay

Acc 290 Student Guide Wk 1

In: Business and Management

Submitted By rider1
Words 373
Pages 2
Week One Student Guide

Accounting is a valuable service function designed to provide accurate and timely information to internal and external stakeholders. Those stakeholders rely on four primary financial statements: the income statement, the capital statement, the balance sheet, and the statement of cash flows. Naturally, you begin by studying those four financial statements and the accounting processes that lead to their creation. Those processes include recording financial transactions in journals and then posting to the general ledger.

In this first week, you learn the purpose of those four statements, what the financial statements include, and how the financial statements are constructed to provide valuable information to stakeholders. You also learn the basic mechanics of accounting. These include journalizing transactions into accounting records using debit and credit rules. You also learn why the general ledger is critical to the accounting process and how transactions are posted to the general ledger.

Basic Accounting Principles and Concepts

OBJECTIVE: Identify the four basic financial statements.

Resources: Ch. 1 & 2 of Financial Accounting Content

• Ch. 1: “Introduction to Financial Statements”

o Forms of Business Organization

• Internal Users
• External Users
• Ethics in Financial Reporting

o Business Activities

• Financing Activities
• Investing Activities
• Operating Activities

o Communicating with Users

• Income Statement
• Retained Earnings Statement
• Balance Sheet
• Statement of Cash Flows
• Interrelationship of Statements
• Other Elements of an Annual Report

• Ch. 2: “A Further Look at Financial Statements”

o The Classified Balance Sheet

• Current Assets
• Long-Term Investments
• Property, Plant, and Equipment
• Intangible Assets
• Current Liabilities
• Long-Term Liabilities
•...

Similar Documents

Premium Essay

Principles of Cost Accounting 15th Edition

...Business: Jack W. Calhoun Acquisitions Editor: Matt Filimonov Developmental Editor: Lauren Athmer Marketing Manager: Kristen Hurd Marketing Coordinator: Heather McAuliffe Content Project Manager: Corey Geissler Production Technology Analyst: Starratt Alexander Media Editor: Scott Fidler Sr. Manufacturing Coordinator: Doug Wilke Production Service: Cadmus Sr. Art Director: Stacy Shirley Internal Designer: Jennifer Lambert, Jen2Design, LLC Cover Designer: cmiller design Cover Image: ªGetty Images For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to permissionrequest@cengage.com Library of Congress Control Number: 2009935270 ISBN-10: 0-8400-3703-1 ISBN-13: 978-0-8400-3703-9 South-Western Cengage Learning, 5191 Natorp Boulevard Mason OH 45040, USA Cengage Learning products are...

Words: 191216 - Pages: 765

Premium Essay

Principles of Cost Accounting

...Business: Jack W. Calhoun Acquisitions Editor: Matt Filimonov Developmental Editor: Lauren Athmer Marketing Manager: Kristen Hurd Marketing Coordinator: Heather McAuliffe Content Project Manager: Corey Geissler Production Technology Analyst: Starratt Alexander Media Editor: Scott Fidler Sr. Manufacturing Coordinator: Doug Wilke Production Service: Cadmus Sr. Art Director: Stacy Shirley Internal Designer: Jennifer Lambert, Jen2Design, LLC Cover Designer: cmiller design Cover Image: ªGetty Images For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to permissionrequest@cengage.com Library of Congress Control Number: 2009935270 ISBN-10: 0-8400-3703-1 ISBN-13: 978-0-8400-3703-9 South-Western Cengage Learning, 5191 Natorp Boulevard Mason OH 45040, USA Cengage Learning products are...

Words: 191216 - Pages: 765

Premium Essay

Dictionary of Travel, Tourism, and Hospitality

...Dictionary of Travel, Tourism and Hospitality By the same author Britain – Workshop or Service Centre to the World? The British Hotel and Catering Industry The Business of Hotels (with H. Ingram) Europeans on Holiday Higher Education and Research in Tourism in Western Europe Historical Development of Tourism (with A.J. Burkart) Holiday Surveys Examined The Management of Tourism (with A.J. Burkart eds) Managing Tourism (ed.) A Manual of Hotel Reception (with J.R.S. Beavis) Paying Guests Profile of the Hotel and Catering Industry (with D.W. Airey) Tourism and Hospitality in the 21st Century (with A. Lockwood eds) Tourism and Productivity Tourism Council of the South Pacific Corporate Plan Tourism Employment in Wales Tourism: Past, Present and Future (with A.J. Burkart) Trends in Tourism: World Experience and England’s Prospects Trends in World Tourism Understanding Tourism Your Manpower (with J. Denton) Dictionary of Travel, Tourism and Hospitality S. Medlik Third edition OXFORD AMSTERDAM BOSTON LONDON NEW YORK PARIS SAN DIEGO SAN FRANCISCO SINGAPORE SYDNEY TOKYO Butterworth-Heinemann An imprint of Elsevier Science Linacre House, Jordan Hill, Oxford OX2 8DP 200 Wheeler Road, Burlington MA 01803 First published 1993 Reprinted (with amendments) 1994 Second edition 1996 Third edition 2003 Copyright © 1993, 1996, 2003, S. Medlik. All rights reserved The right of S. Medlik to be identified as the author of this work has been......

Words: 133754 - Pages: 536

Free Essay

Gmat

...GMAT GRADUATE MANAGEMENT ADMISSION TEST McGraw-Hill’s 2008 Edition James Hasik Stacey Rudnick Ryan Hackney New York | Chicago | San Francisco | Lisbon London | Madrid | Mexico City | Milan | New Delhi San Juan | Seoul | Singapore | Sydney | Toronto Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-151120-2 The material in this eBook also appears in the print version of this title: 0-07-149340-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all......

Words: 234594 - Pages: 939

Free Essay

Magt

...i Computational Complexity: A Modern Approach Draft of a book: Dated January 2007 Comments welcome! Sanjeev Arora and Boaz Barak Princeton University complexitybook@gmail.com Not to be reproduced or distributed without the authors’ permission This is an Internet draft. Some chapters are more finished than others. References and attributions are very preliminary and we apologize in advance for any omissions (but hope you will nevertheless point them out to us). Please send us bugs, typos, missing references or general comments to complexitybook@gmail.com — Thank You!! DRAFT ii DRAFT About this book Computational complexity theory has developed rapidly in the past three decades. The list of surprising and fundamental results proved since 1990 alone could fill a book: these include new probabilistic definitions of classical complexity classes (IP = PSPACE and the PCP Theorems) and their implications for the field of approximation algorithms; Shor’s algorithm to factor integers using a quantum computer; an understanding of why current approaches to the famous P versus NP will not be successful; a theory of derandomization and pseudorandomness based upon computational hardness; and beautiful constructions of pseudorandom objects such as extractors and expanders. This book aims to describe such recent achievements of complexity theory in the context of the classical results. It is intended to both serve as a textbook as a reference for self-study. This......

Words: 210134 - Pages: 841

Free Essay

The Case of the Unidentified Company

...Invest. Innovate. Inspire. For a new India. ANNUAL REPORT 2014-15 India is at the threshold of a new era of growth and opportunity. This is driven by increasing economic activity, ongoing ‘Make in India’ initiatives and a demographically well-placed, aspirational society. Reliance Industries Limited (RIL) continues to be a partner in India’s ongoing journey towards economic and social well-being, and remains committed to investing in and innovating for India. RIL is striving to meet and exceed global benchmarks in product quality and customer service with inspiring ideas and strategic investments. From the manufacturing landscape to high-growth consumer service sectors, RIL is achieving superior outcomes that facilitate India’s drive for global leadership. RIL is delivering industry-leading performance through consistent efficiency in operations and prudent configuration of assets. RIL is making sizable capital investments, focusing on technology and expanding its level of services from the hydrocarbons sector to consumer businesses. RIL innovates for existing businesses and also focuses on developing new business models to deliver g g g y significant value for its growing stakeholder fraternity. In this effort, it collaborates with o s with leading global institutions to help usher in a n era of possibilities. global new is growing o RIL’s focus is to continue growing as a respons responsible organisation, thereby e inspiring progress......

Words: 182744 - Pages: 731

Premium Essay

Doctor

...Courtesy of L E K A R SPECIAL EDITION Authors: Marino, Paul L. Title: ICU Book, The, 3rd Edition Copyright ©2007 Lippincott Williams & Wilkins ISBN: 0-7817-4802-X Authors Dedication Quote Preface to Third Edition Preface to First Edition Acknowledgments Table of Contents Section I - Basic Science Review Basic Science Review Chapter 1 - Circulatory Blood Flow Chapter 2 - Oxygen and Carbon Dioxide Transport Section II - Preventive Practices in the Critically Ill Preventive Practices in the Critically Ill Chapter 3 - Infection Control in the ICU Chapter 4 - Alimentary Prophylaxis Chapter 5 - Venous Thromboembolism Section III - Vascular Access Vascular Access Chapter 6 - Establishing Venous Access Chapter 7 - The Indwelling Vascular Catheter Section IV - Hemodynamic Monitoring Hemodynamic Monitoring Chapter 8 - Arterial Blood Pressure Chapter 9 - The Pulmonary Artery Catheter Chapter 10 - Central Venous Pressure and Wedge Pressure Chapter 11 - Tissue Oxygenation Section V - Disorders of Circulatory Flow Disorders of Circulatory Flow Chapter 12 - Hemorrhage and Hypovolemia Chapter 13 - Colloid and Crystalloid Resuscitation Chapter 14 - Acute Heart Failure Syndromes Chapter 15 - Cardiac Arrest Chapter 16 - Hemodynamic Drug Infusions Section VI - Critical Care Cardiology Critical Care Cardiology Chapter 17 - Early Management of Acute Coronary Syndromes Chapter 18 - Tachyarrhythmias Section VII - Acute Respiratory Failure Acute Respiratory Failure Chapter 19 -......

Words: 91543 - Pages: 367