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Financial Accounting

Financial Accounting AlgorithmicHomework

Introduction to accounting

  • The role of accounting
  • The accounting equation
  • Transaction analysis
  • Introduction to the financial statements

Analyzing transactions

  • Introducing debits and credits
  • Journalizing transactions
  • Posting to the ledger
  • Unadjusted trial balance

Adjusting entries

  • Cash and accrual accounting
  • Introduction to adjusting entries
  • Preparing adjusting entries for prepayments and accruals

Completing the accounting cycle

  • The accounting cycle
  • Preparing closing entries
  • Adjusted and post-closing trial balance
  • Preparing reversing entries
  • Inventory transactions

  • Perpetual and periodic inventory systems
  • Recording journal entries for inventory transactions
  • Calculating cost of goods sold (periodic)
  • Preparing closing entries for inventory
  • Measuring inventory

    • Cost flow assumptions
    • Specific identification, FIFO, LIFO, Average cost

    Accounting information systems

    • Special journals and subsidiary ledgers

      For this section, you may select either of the following options to match your Perdisco practice set:

    • Periodic inventory, no tax, reversing entries
    • Perpetual inventory, no tax, no reversing entries

    Plant assets

    • Determining the cost of assets
    • Depreciation concepts
    • Calculating depreciation
    • Subsequent expenditure
    • Disposal and derecognition