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ADDRESS: 901 Dulaney Valley Road, Suite 800
Towson, MD 21204
PHONE: 888-481-3500
FOLLOW BLI:
Everything You Wanted to Know About Accounting, But Afraid to AskCOURSE ID: KNOWACCT
DESCRIPTION

This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be discussed, such as: the matching principle, the accrual method, revenue recognition, inventory, property, plant and equipment, liabilities and equity. The course focuses on the construction of the basic financial accounting statements; the income statement, balance sheet, and cash flow statement, along with, their interpretation.

DESIGNED FOR: Non-accountantsFIELD OF STUDY: AccountingLEVEL: BasicPREREQUISITES: NoneCOURSE PRODUCER: Business Learning InstituteCREDITS: 8.0OBJECTIVES:
  • Demonstrate how business transactions are recorded in terms of the resulting changes in the basic elements of the accounting equation.
  • Differentiate between the cash basis of accounting and the accrual basis of accounting
  • Summarize the recording and posting transactions using a chart of accounts, journals, and ledgers.
  • Describe and prepare the financial statements of a corporation, and explain how they interrelate.
  • Distinguish between activities, accounting, and financial statements of a service business and a merchandising business.
  • Describe the objectives of internal control.
HIGHLIGHTS:

* Describing how the three financial statements are compiled * Describing how transactions flow through an accounting system * Describing the various supporting documentation needed for every transaction * Describing the importance of an internal control system

Download the 2016 Business Learning Institute Course Catalog DOWNLOAD PDF
Business Learning Institute - Course Catalog
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