LESSON 1 INTRODUCTION TO ACCOUNTING 1.1 What Is Accounting? 1.2 Financial Accounting and Managerial Accounting 1.3 Financial Statements 1.4 Income Statement 1.5 Revenue 1.6 Expense 1.7 The Statement of Changes in Equity 1.8 Balance Sheet 1.9 Assets 1.10 Liabilities 1.11 Owner's Equity (Capital) 1.12 Statement of Cash Flows 1.13 Accounting Equation 1.14 Example for Assets=Claims 1.15 How the Elements of Accounting Equation Change 1.16 Ending Balances Terms and Phrases Exercise 1: True or False Exercise 2: Single Choice Questions Exercise 3: Cases LESSON 2 THE BALANCE SHEET AND DOUBLE ENTRY 2.1 Introduction 2.2 The Effect of Transactions on the Balance Sheet 2.3 The Two Sections of a Balance Sheet 2.4 Business Entity 2.5 Buy Jeans Not Yet to Pay 2.6 The Ordering and Classification of Assets and Liabilities 2.7 The Classification of Assets 2.8 The Classification of Liabilities(Creditors) 2.9 Working Capital 2.10 Jane's Business 2.11 Recording Business Transactions 2.12 Basic Rules for Recording Business Transactions 2.13 An Example of Dual Aspect Concept 2.14 Double Entry Rule 2.15 T-account 2.16 Two Important Rules about Double-entry Recording System 2.17 Application of the Double Entry Rule 2.18 An Example of the Double Entry Rule 2.19 Another Example of the Double Entry 2.20 Transaction No.1: Starting the Operations 2.21 Transaction No.2: Purchasing Office Supplies 2.22 Transaction No.3: Providing Services on Account 2.23 Transaction No.4: Paying Cash for Operating Expenses 2.24 Transaction No.5.Borrowing Money from Bank …… LEESSON 3 CURRENT ASSETS LEESSON 4 LONG TERM ASSETS LEESSON 5 LIABILITIES LEESSON 6 OWNER’S EQUITY LEESSON 7 INCOME STATEMENT LEESSON 8 STATEMENT OF CASH FLOWS LEESSON 9 INTERPRETATIONS OF FINANCIAL STATEMENTS Key to Exercise Useful Financial Accounting Websites
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