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Basics Of Financial Accounting II

Overview

This course will provide the learner with the necessary tools for understanding reconciliation, inventory valuation, and depreciation methods. The learner will also be able to use ratios and other numerical values and methods to account for changes in a company’s assets. Upon completing this program, the learner will be able to:

  • Use appropriate methods to evaluate and reconcile inventory and other assets.
  • Create numeral values by which to analyze a company’s financial condition.
  • Understand and apply inventory valuation and depreciation methods in real-life scenarios.

Contents

T1. Reconciliation: This topic will serve as an introduction to the process by which a company compares and matches its accounting records with the figures shown on its financial statement, and will discuss the benefits of performing frequent reconciliations.

T2. Ratios: This topic will illustrate the importance of creating numerical values by which to compare and evaluate a companys overall financial condition, and will assert the various types or ratios that exist to perform differing operations.

T3. Inventory-Intensive Business: This topic will describe the purpose of inventories, which are the goods or materials held by most companies and which represents one of their most important assets, and their importance to certain types of businesses.

T4. Inventory Accounting System: This topic will instruct the learner on how valuing changes in a companys inventoried assets occur and are subsequently handled, with information on methods used to account for inventory.

T5. Inventory Valuation: This topic will detail the necessary act of inventory valuation, and the different valuation methods that measure the flow of inventory, such as FIFO, LIFO, and AVCO.

T6. Depreciation: This topic will explain how depreciation occurs and the effects of depreciation on assets and businesses, as well as detail the factors that contribute to depreciation.

T7. Methods of Depreciation: This topic will provide an overview of the many types of depreciation methods and their variations that can be used by a company to account for asset depreciation.

Please note that any legal and compliance references in this course will pertain to US legislation.