About this course

This course provides knowledge to students to understand the basic principles and standards of accounting. Topic areas: accounting principles, recording process, adjusting entries, accounting cycle, accounting for merchandising operations, ash valuation method, accounts receivables, inventory, and plant assets. This course also teaches the preparation of financial statements, introduction to Financial Accounting Standards (SAK) and International Financial Reporting Standards (IFRS).


On successful completion of this course, student will be able to (Learning Outcomes, LO):

  • LO 1: Explain the conceptual framework, accounting principles, and accounting standards as the basis in preparation of financial statements, and all stages in the accounting cycle
  • LO 2: Explain the differences between service and merchandising companies, and the steps in the accounting cycle for merchandising company
  • LO 3: Identify some of the methods in accordance with Financial Accounting Standards (SAK) and International Financial Reporting Standards (IFRS) relating asset that consists of inventories, cash, accounts receivable, tangible and intangible assets
  • LO 4: Apply the methods in recording and calculating the asset that consists of of inventories, cash, accounts receivable, tangible and intangible assets in accordance with Financial Accounting Standards (SAK) and International Financial Reporting Standards (IFRS)
  • LO 5: Prepare the complete accounting cycle

What you will learn

  1. What is Accounting?: Three Activities, Who Uses Accounting Data 
  2. The Building Blocks of Accounting: Ethics in  Financial Reporting, Accounting Standards, Measurement Principles, and Assumptions
  3. The Basic Accounting Equation: Assets, Liabilities, Equity 
  4. Using The Accounting Equation: Transaction Analysis, Summary of Transactions
  5. Financial Statements: Statement of Comprehensive Income (Income Statement), Retained Earnings Statement, Statement of  Financial Position, Statement of Cash Flows

  1. The Account: Debits and Credits, Equity Relationships, Summary of Debit/Credit Rules
  2. Steps in the Recording Process: The Journal, The Ledger, Posting, The Recording Process Illustrated, Summary Illustration of Journalizing and Posting 
  3. The Trial Balance: Limitations of a Trial Balance, Locating Errors, Currency Signs and Underlining

  1. Timing Issues: Fiscal and Calendar Years, Accrual vs. Cash Basis Accounting, Recognizing Revenues, and Expenses
  2. The Basics of Adjusting Entries: Types of Adjusting Entries, Adjusting Entries for Deferrals, Adjusting Entries for Accruals, Summary of Basic Relationship
  3. The Adjusted Trial Balance and Financial Statements: Preparing the Adjusted Trial Balance, Preparing Financial Statements

  1. Using a Worksheet: Steps in Preparing a Worksheet, Preparing Financial Statements from a Worksheet, Preparing Adjusting Entries from a Worksheet
  2. Closing the Books: Preparing Closing Entries, Posting Closing Entries, Preparing a PostClosing Trial Balance
  3. Summary of the Accounting Cycle: Reversing Entries-An Optional Step, Correcting EntriesAn Avoidable Step
  4. The Classified Statement of Financial Position: Intangible Assets, Property, Plant, and Equipment, Long Term Investments, Current Assets, Equity, Non-Current Liabilities, Current Liabilities

  1. Merchandising Operations: Operating Cycles, Flow of Costs
  2. Recording Purchases of Merchandise: Freight Costs, Purchase Returns and Allowances, Purchase Discounts, Summary of Purchasing Transactions
  3. Recording Sales of Merchandise: Sales Returns and Allowances, Sales Discounts
  4. Completing the Accounting Cycle: Adjusting Entries, Closing Entries, Summary of Merchandising Entries
  5. Forms of Financial Statements: Income Statement, Income Statement Presentation of Sales, Inventory Presentation in the Classified Statement of Financial Position

  1. Classifying Inventory
  2. Determining Inventory Quantities: Taking a Physical Inventory, Determining Ownership of Goods
  3. Inventory Costing: Specific Identification, Cost Flow Assumption, Financial Statement and Tax Effects of Cost Flow Methods, Using Inventory Cost Flow Methods Consistently, Lower-of-Cost-or-Net Realizable Value
  4. Inventory Errors: Income Statement Effects, Statement of Financial Position Effects
  5. Statement Presentation and Analysis: Presentation, Analysis

  1. Fraud and Internal Control: Fraud, Internal Control, Principles of Internal Control Activities, Limitations of Internal Control
  2. Cash Controls: Cash Receipts Controls, Cash Disbursements Controls, Petty Cash Fund Controls
  3. Control Features: Use of A Bank: Making Bank Deposit, Writing Checks, Bank Statements, Reconciling the Bank Account, Electronic Funds Transfer (EFT) System
  4. Reporting Cash: Cash Equivalents, Restricted Cash

  1. Types of Receivables
  2. Accounts Receivable: Recognizing Accounts Receivable, Valuing Accounts Receivable, Disposing of Accounts Receivable
  3. Notes Receivable: Determining the Maturity Date, Computing Interest, Recognizing Notes Receivable, Valuing Notes Receivable, Disposing of Notes Receivable
  4. Statement Presentation and Analysis: Presentation, Analysis

  1. Plant Assets: Determining the Cost of Plant Assets, Depreciation, Revaluation of Plant Assets, Expenditure During Useful Life, Plant Asset Disposal
  2. Extractable Natural Resources-Intangible Assets: Accounting for Intangible Assets, Research and Development Costs
  3. Statement Presentation and Analysis

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Course Information

Start Date

08 September 2021

End Date

-

Language

-

Category

Finance & Accounting

Duration

2 hours

Enrolled Students

5

Rating

0.0

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Pendaftaran mandiri (Siswa)
Pendaftaran mandiri (Siswa)
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