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ACC230 - USES OF ACCOUNTING INFORMATION I

AILEEN ORMISTON

I. INTRODUCTION

  • A. Effective writing skills
  • B. Decision-making
  • C. Business organizations
  • D. Uses of accounting information
  • E. Historical development of accounting
  • F. Role of accounting organizations
  • G. Ethics

    • II. THE ANNUAL REPORT

  • A. Public relations information
  • B. Management discussion and analysis
  • C. Five-year summary
  • D. Financial statements
  • E. Notes to the financial statements
  • F. Auditor's report
  • G. Market data
  • H. Form 10-K

    • III. ACCOUNTING CYCLE

  • A. Recordkeeping
  • B. Accounting equation
  • C. Revenues and expenses
  • D. Accrual versus cash basis

    • IV. THE BALANCE SHEET

  • A. Assets
  • 1. Current assets
  • a. Cash and marketable securities
  • b. Accounts receivable and allowance for bad debts
  • c. Prepaid expenses
  • d. Inventory
  • 2. Property, plant and equipment and depreciation
  • 3. Intangible assets
  • B. Liabilities
  • 1. Current liabilities
  • a. Accounts payable and accrued liabilities
  • b. Payroll
  • 2. Long-term debt and bonds
  • 3. Deferred income taxes
  • 4. Leases
  • D. Equity
  • 1. Proprietorships and partnerships
  • 2. Corporations
  • a. Common and preferred stock
  • b. Retained earnings
  • c. Treasury stock
  • d. Foreign currency translation

    • V. INCOME STATEMENT

  • A. Revenues
  • B. Cost of goods sold
  • C. Operating expenses
  • D. Other revenues and expenses
  • E. Earnings per share

    • VI. STATMENT OF RETAINED EARNINGS OR STOCKHOLDERS' EQUITY

  • A. Proprietorships and partnerships
  • B. Corporations

    • VII. STATMENT OF CASH FLOWS

  • A. Operating activities
  • B. Investing activities
  • C. Financing activities

    • ACC240 - USES OF ACCOUNTING INFORMATION II

    AILEEN ORMISTON

  • I. FINANCIAL STATEMENT ANALYSIS
  • A. Review GAAP and annual reports
  • B. Tools and techniques of analysis
  • 1. Sources of information
  • 2. Common-size analysis
  • 3. Ratio analysis
  • 4. Segmental analysis
  • 5. Quality of financial reporting
  • C. Auditing issues
  • II. INFORMATION FOR INTERNAL USERS
  • A. Managerial accounting
  • 1. Compare and contrast to financial accounting
  • 2. Terminology
  • B. Reports needed for manufacturing firms
  • 1. Statement of cost of goods manufactured
  • a. Materials and labor
  • b. Overhead costs and activity based costing
  • 2. Job order cost sheets and process costing reports
  • C. Cost-volume-profit analysis
  • 1. Cost behaviors
  • 2. Contribution margin format of income statement
  • 3. Break-even analysis
  • D. Budgeting and variance analysis
  • 1. Master budget components
  • 2. Performance reports
  • 3. Standard costs and variance analysis
  • E. Reporting for segments
  • F. Capital budgeting
  • 1. Present value concepts
  • 2. Decision-making
  • III. TAX ACCOUNTING
  • IV. GOVERNMENTAL ACCOUNTING
  • V. FINANCIAL ANALYSIS PRESENTATIONS
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