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Introduction
Chapter 1: Why it matters
{Day 1} LO 1.1 Explain the Importance of Accounting and Distinguish between Financial and Managerial Accounting
Knowledge Check - L.O. 1.1
{Day 2} LO 1.2 Identify Users of Accounting Information and How They Apply Information
Knowledge Check - LO 1.2
{Day 3} LO 1.3 Describe Typical Accounting Activities and the Role Accountants Play in Identifying, Recording, and Reporting Financial Activities
Knowledge Check - LO 1.3 (no grade)
{Day 4} LO 1.4 Explain Why Accounting Is Important to Business Stakeholders
Knowledge Check - LO 1.4
{Day 5 and 6} LO 1.5 Describe the Varied Career Paths Open to Individuals with an Accounting Education
Knowledge Check - Chapter 1 (Summary)
Chapter 2: Why It Matters
{Day 7 and 8} LO 2.1 Describe the Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows, and How They Interrelate
Knowledge Check - LO 2.1
{Day 9} LO 2.2 Define, Explain, and Provide Examples of Current and Noncurrent Assets, Current and Noncurrent Liabilities, Equity, Revenues, and Expenses
Patty Graybeal; Mitchell Franklin; and Dixon Cooper
Knowledge Check - LO 2.2
{Day 10 and 11} LO 2.3 Prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet
Knowledge Check - L.O. 2.3
Knowledge Check - Chapter 2 (Summary)
Practice - Refresher (Arithmetic / Math)
Why It Matters
{Day 12 and 13} LO 3.1 Describe Principles, Assumptions, and Concepts of Accounting and Their Relationship to Financial Statements
L.O. 3.1 - Knowledge Check
{Day 14 and 15} LO 3.2 Define and Describe the Expanded Accounting Equation and Its Relationship to Analyzing Transactions
LO 3.2 - Knowledge Check
{Day 16} LO 3.3 Define and Describe the Initial Steps in the Accounting Cycle
LO 3.3 - Knowledge Check
{Day 17} LO 3.4 Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business Transactions on Financial Statements
LO 3.4 - Knowledge Check
{Day 18, 19, 20, and 21} LO 3.5 Use Journal Entries to Record Transactions and Post to T-Accounts
LO 3.5 - Knowledge Check
{Day 22} LO 3.6 Prepare a Trial Balance
{Day 23} LO 4.1 Explain the Concepts and Guidelines Affecting Adjusting Entries
LO 4.1 - Knowledge Check
{Day 24 and 25} LO 4.2 Discuss the Adjustment Process and Illustrate Common Types of Adjusting Entries
LO 4.2 - Knowledge Check
{Day 26 and 27} LO 4.3 Record and Post the Common Types of Adjusting Entries
LO 4.3 - Knowledge Check
{Day 28} LO 4.4 Use the Ledger Balances to Prepare an Adjusted Trial Balance
{Day 29 and 30} LO 4.5 Prepare Financial Statements Using the Adjusted Trial Balance
LO 4.5 - Knowledge Check
{Day 31} LO 4.6 Define, Explain, and Provide Examples of Current and Noncurrent Assets, Current and Noncurrent Liabilities
LO 4.7 Use a 10-column worksheet (optional step in the accounting cycle)
LO 5.1 Describe and Prepare Closing Entries for a Business
LO 5.1 - Knowledge Check
LO 5.2 Prepare a Post-Closing Trial Balance
LO 5.3 Apply the Results from the Adjusted Trial Balance to Compute Current Ratio and Working Capital Balance, and Explain How These Measures Represent Liquidity
LO 5.4 Appendix: Complete a Comprehensive Accounting Cycle for a Business
Comprehensive Accounting Self-Assessment
LO 15.1 Conduct, report, and interpret horizontal, vertical, and ratio analyses of financial statements
Appendix
Time Value of Money -- Tables of Factors
Mitchell Franklin
Financial Statement Analysis
Suggested Resources
Glossary
Footnote 1
Footnote 2
Footnote 8
Footnote 9
Module Outline
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Financial Accounting adapted by Prof. Philip C. Sookram at Saint Peter's University (Jersey City, New Jersey) Copyright © 2020 by OpenStax is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.