BA 211 Financial Accounting

Lecture Hours: 4
Credits: 4

Covers the complete accounting cycle for service and merchandising firms including recording transactions, adjustments, financial statements, worksheets, closing entries, cash and accounts receivable, notes receivable and interest, and accounting for inventories, long term assets, current and long term liabilities, and stockholders’ equity.

Student Learning Outcomes:

Apply theory and procedures used in the processing of financial data for a service firm and a merchandising firm.
Describe the accounting cycle, be able analyze economic events and prepare journal entries.
Prepare and analyze financial statements and reports,including the Statement of Cash Flow
Apply internal control principles to relatively straight forward situations to identify strengths and weaknesses.
Analyze issues relating to inventory, receivables, long-term assets, liabilities and stockholders equity and recommend appropriate accounting treatment.

Content Outline

Principles, Practices, Role of Accounting in Society
Analyzing, Journalizing, and Posting Transactions
Adjusting and Closing Entries
Preparing Income Statement, Statement of Owner’s Equity, Balance Sheet and Statement of Cash Flow
Issues Related to Inventories and Merchandising Companies
Internal Control, Cash and Bank Reconciliations
Sales and Accounts Receivables
Long Term Assets
Current and Long Term Liabilities
Corporation and Stockholders’ Equity
Financial Statement Analysis