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1. 9/10 Introduction and the Balance Sheet
- Function and objectives of accounting
- Overview of income statement, cash flow statement, and balance sheet
- Balance sheet equation
- Balance sheet accounts
- Recognizing assets, liabilities, and owners’ equity
Read: chapter 1, 2
2. 9/17 The Accounting Process
- More on the balance sheet
- Recognizing revenues and expenses
- Journal entries: debit and credit notation
- Income statement accounts
- Trial balances
- Adjusting entries
- Income statement and balance sheet preparation
Read: chapter 3
3. 9/24 Income Statement
- More on accruals
- Accrual versus cash accounting
- Revenue and expense adjustments
- Analyzing the income statement
Read: chapter 3 (review)
4. 10/1 Cash Flow Statement
- Defining cash
- Statement of cash flows
- Analysis of cash flow
Read: chapter 4
5. 10/8 Receivables and Revenue Recognition
- Revenue recognition
- Accounts receivable bad debts, and allowances
- Income recognition at times different from sale
- Gains and losses
- Recurring versus nonrecurring
Read: chapter 6
6. 10/15 Inventories
- Costs included in purchased inventory
- Costs included in manufactured inventory
- Cost basis for inventory
- Periodic and perpetual inventory systems
- Cost flow assumptions
- Tax consequences of cost flow assumptions
- Holding gains and losses
Read: chapter 7
7. 10/22 Plant, Equipment, and Intangible Assets
- Basis of long-term assets
- Concept of depreciation
- Methods of computing depreciation
- Repairs and improvements
- Dispositions
- Impairment of assets
- Depletion
- Intangibles and amortization
- Research and Development
- Tax consequences
Read: chapter 8
10/29 MID-TERM EXAMINATION
11/5 NO CLASS VACATION
11/7 MID-TERM REVIEW
8. 11/12 Time value of money
- Present and future values
- Perpetuities
- Annuities
- Bonds prices and yields
- Interest rate risk
Read: Appendix, handout
9. 11/19 Liabilities
- Definition of liabilities
- Short-term liabilities
- Contingent liabilities
- Long-term notes
- Mortgage bonds
- Imputing interest
Read: chapter 9
10. 11/26 Liabilities (continued)and Investments
- Capital Market
- Off-balance sheet financing
- Leases
- Income taxes and deferred taxes
- Valuation of securities
- Classification of securities
- Passive and active investments
Read: chapter 10 and chapter 11
11. 12/3 Owners' Equity
- Shareholders' equity
- Retained earnings and dividends
- Employee stock options
- Earnings per share
- Treasury shares
- Reporting of earnings
Read: Chapter 12
12. 12/10 Advanced Cash Flow, Financial Statement Analysis, and
- Accounting and Financial Markets
- More on the statement of cash flows
- More on analyzing cash flow
- Measures of profitability
- Measures of liquidity
- Debt structure and risk
- Information, decision making, and financial markets
Read: chapter 13 and chapter 5
YOU ARE STRONGLY URGED TO READ ALL ASSIGNED READINGS IN ADVANCE OF
CLASS.
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