Accounting Course

Lesson 1 • The Accounting Equation

Presents Assets = Liabilities + Equity as the structural backbone of double-entry accounting. Every subsequent transaction analysis relies on this equation.

Lesson 2 • Core Accounting Concepts and Assumptions

Covers the going-concern, periodicity, monetary unit, and entity assumptions. These concepts govern how every transaction is recorded and reported.

Lesson 3 • The Purpose and Scope of Accounting

Defines accounting as an information system serving internal and external users. Anchors the chapter by clarifying why accurate financial data drives business decisions.

Lesson 4 • Generally Accepted Accounting Principles

Introduces the authoritative standards that ensure consistency and comparability in financial statements. Students connect each principle to real reporting decisions.

Lesson 1 • Posting to the General Ledger

Explains how journal entries transfer to T-accounts and the general ledger. Accurate posting is essential for producing a correct trial balance.

Lesson 2 • Trial Balance Preparation

Demonstrates how to extract account balances and verify mathematical equality. Students identify and correct common trial balance errors.

Lesson 3 • Journalizing Transactions

Covers the general journal format and the rules of debit-credit recording. Students practice writing compound and simple journal entries accurately.

Lesson 4 • Source Documents and Transaction Analysis

Identifies invoices, receipts, and contracts as the evidence base for entries. Teaches students to analyze each transaction before recording it.

Lesson 1 • The Statement of Cash Flows

Introduces operating, investing, and financing activity classifications. Students prepare the indirect method cash flow statement from income and balance sheet data.

Lesson 2 • Notes and Disclosures in Financial Reporting

Explains how footnotes and supplementary schedules complete the financial picture. Students draft basic disclosures for accounting policies and contingencies.

Lesson 3 • The Statement of Retained Earnings

Links net income to changes in equity by tracking retained earnings across periods. Students see how dividends and net income alter the equity section.

Lesson 4 • The Income Statement

Constructs a multi-step and single-step income statement from revenue and expense accounts. Students distinguish operating from non-operating items.

Lesson 1 • Intangible Assets and Goodwill

Explains recognition and amortization of patents, trademarks, and goodwill. Students distinguish finite-life from indefinite-life intangibles and apply impairment testing.

Lesson 2 • Accounts Receivable and Bad Debts

Teaches recognition of trade receivables and estimation of uncollectible accounts. Students apply the allowance method and direct write-off method.

Lesson 3 • Cash and Cash Equivalents Management

Covers internal controls over cash, bank reconciliations, and petty cash funds. Proper cash accounting prevents misstatement and fraud.

Lesson 4 • Inventory Valuation Methods

Compares FIFO, LIFO, and weighted-average cost methods under periodic and perpetual systems. Students calculate cost of goods sold and ending inventory under each method.

Lesson 1 • Lease Obligations

Distinguishes operating leases from finance leases and applies right-of-use asset accounting. Students record initial recognition and subsequent measurement for both lease types.

Lesson 2 • Long-Term Debt and Bond Accounting

Explains bond issuance at par, premium, and discount using effective-interest amortization. Students prepare amortization schedules and record interest expense accurately.

Lesson 3 • Earnings Per Share and Equity Analysis

Computes basic and diluted earnings per share and interprets equity ratios. Students connect EPS trends to investor decision-making.

Lesson 4 • Current Liabilities Recognition and Measurement

Covers accounts payable, accrued liabilities, unearned revenue, and short-term notes. Students record and disclose each type according to matching and full-disclosure principles.

Lesson 1 • Cost-Volume-Profit Analysis

Uses contribution margin and break-even analysis to evaluate profitability at various output levels. Students apply CVP to pricing and production decisions.

Lesson 2 • Activity-Based Costing

Assigns overhead using multiple cost drivers to improve product cost accuracy. Students compare ABC results to traditional allocation and identify distortions.

Lesson 3 • Job-Order Costing Systems

Applies overhead allocation and cost accumulation to individual jobs or batches. Students complete a job cost sheet from materials requisition to finished goods.

Lesson 4 • Cost Classification and Behavior

Distinguishes fixed, variable, and mixed costs and their behavior across activity levels. Accurate cost classification is the foundation of all managerial analysis.

Lesson 1 • Flexible Budgets and Performance Evaluation

Adjusts static budgets to actual activity levels for fair performance comparison. Students calculate activity and spending variances for operating departments.

Lesson 2 • Cash Budget and Liquidity Planning

Builds a cash budget from collections, disbursements, and financing activities. Students identify cash shortfalls and plan short-term borrowing needs.

Lesson 3 • Responsibility Accounting and Segment Reporting

Assigns revenues and costs to cost, profit, and investment centers for accountability. Students evaluate segment performance using return on investment and residual income.

Lesson 4 • The Master Budget Framework

Outlines the components of the master budget and their interdependencies. Students trace how the sales budget drives all other operating and financial budgets.

Lesson 1 • Liquidity and Efficiency Ratios

Measures short-term solvency and asset utilization through current, quick, and turnover ratios. Students assess a firm's ability to meet near-term obligations efficiently.

Lesson 2 • Profitability Ratios and DuPont Analysis

Calculates gross margin, net margin, ROA, and ROE and decomposes ROE via DuPont. Students identify the drivers of profitability and compare firms across industries.

Lesson 3 • Solvency and Leverage Ratios

Evaluates long-term financial stability using debt-to-equity and interest coverage ratios. Students connect leverage levels to financial risk and creditor protection.

Lesson 4 • Integrated Financial Analysis Report

Synthesizes ratio, trend, and qualitative data into a structured analytical report. Students practice communicating findings and recommendations to non-accounting stakeholders.