Description
Course Outline:
• DEFINITION; PHASES OF ACCOUNTING; PURPOSE AND IMPORTANCE OF ACCOUNTING; USERS OF FINANCIAL INFORMATION
• BUSINESS TRANSACTIONS DEFINED
• ACCOUNT; CLASSIFICATION OF ACCOUNTS
o Assets
o Liabilities
o Equity
o Revenues
o Expenses
• GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAPs)
• THE ACCOUNTING EQUATION
• THE THEORY OF DEBIT AND CREDIT
• CHART OF ACCOUNTS
• THE ACCOUNTING CYCLE
o Journalizing / Preparing Accounting Entries
o Posting
o Preparing the Trial Balance
o Adjusting Entries
▪ Depreciation
▪ Amortization
▪ Bad Debts
▪ Prepaid Expenses
▪ Accrued Expenses
▪ Accrued Income
▪ Deferrals
o Closing Entries
o Preparing the Post-Closing Trial Balance
• BASIC FINANCIAL STATEMENTS
o Preparing the Balance Sheet
o Preparing the Income Statement
o Introduction to the Statement of Changes in Equity
o Introduction to the Statement of Cash Flows
• ANALYSIS OF FINANCIAL STATEMENTS
o Objectives of Financial Statement Analysis
o Types of Analysis
▪ Horizontal
▪ Vertical
▪ Trend
o Steps in Analyzing Financial Statements
o Financial Ratios
o Exercises: Financial Statement Analysis
Schedules:
March 27-28, 2020; 8:30 A.M. to 5:00 P.M.
Venue:
Dusit Thani Manila, Ayala Center, Makati City