what we teach?
Accounting Basics: Learn accounting principles, introduction to financial statements, debits and credits.
Accounting Equation: Learn how transactions affect the accounting equation, balance sheet, and income statement. See the connection between the accounting equation and debits and credits.
Accounting Principles: Learn the basic accounting principles (matching, cost, conservatism, etc.). Understand their impact on the financial statements.
Adjusting Entries: Accruals and deferrals necessary for financial reporting under the accrual basis of accounting.
Balance Sheet: Learn the proper reporting of assets, liabilities, owner's equity. Includes current vs long-term classifications.
Bank Reconciliation: Use of outstanding checks, deposits in transit, bank charges, and NSF checks to be certain the cash balance agrees with the bank statement balance.
Bookkeeping: Introduction to double entry bookkeeping, debits and credits, trial balance.
Cash Flow Statement: Tips for learning indirect method, format, illustration of transactions' effect on the statement, relationship to income statement and balance sheet.
Financial Ratios: Common-size balance sheet and income statement, current ratio, quick ratio, accounts receivable and inventory turnover ratios, profitability ratios.
Income Statement: Revenues, gains, expenses, losses, formats, reporting unusual items.
Managerial & Cost Accounting
Activity Based Costing: Comparison of Activity Based Costing (ABC) to traditional allocation of manufacturing overhead.
Break-even Point: Fixed and variable expenses, contribution margin, and desired profit.
Manufacturing Overhead: Examples of manufacturing overhead; allocation of overhead via direct labor, and via departmental machine hours.
Standard Costing: Direct materials price and usage variances, direct labor rate and efficiency variances, manufacturing overhead volume, efficiency, spending, and budget variances. Disposing of variance amounts.
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