#certificate #in #accounting
Basic introduction to financial accounting. Defines financial accounting, compares to managerial accounting, lists underlying assumptions, and provides an example of recording transactions.
Underlying Assumptions and Principles
A description of the basic financial accounting assumptions, principles, and modifying conventions.
Single Entry Bookkeeping
Describes the simple single-entry bookkeeping system and why it is inadequate for many organizations.
Double Entry Bookkeeping
An introduction to the double entry system that is the foundation of modern accounting.
The Accounting Equation
The fundamental accounting equation and an example showing how it remains in balance after each transaction.
The Accounting Cycle
The steps of the accounting cycle, from the initial transaction to preparation of the financial statements and closing entries.
The Source Document
The purpose of the source document, examples of source documents, and their role in the accounting cycle.
The basics of the general journal and journal entries and the role of special journals.
The General Ledger
The purpose of the general ledger and how to post transactions to the ledger accounts.
Debits and Credits
An introduction to debits and credits and how to avoid confusing them.
The Trial Balance
How to calculate the trial balance and use it to identify errors in the accounting process.
The role of closing entries in the accounting process and the procedure for making them.
The Financial Statements
An introduction to the balance sheet, income statement, statement of retained earnings, and cash flow statement.
A short description of financial accounting standards groups and authoritative bodies, including FASB, its predecessors, and other accounting standards groups.
The Balanced Scorecard
The Balanced Scorecard is a relatively new management accounting system that includes financial and non-financial performance measures. This article introduces the Balanced Scorecard and describes each of its four measurement perspectives.
The articles on this website are copyrighted material and may not be reproduced,
stored on a computer disk, republished on another website, or distributed in any
form without the prior express written permission of QuickMBA.com.