Financial Accounting
Principles I
Open to see guidance on how to use the materials for each subject
- Start by identifying and clicking on the subject you need to learn
- Review the Key Things to Know for the topic.
- Watch the Video Lectures for Step-by-Step instruction for procedures.
- Take the Self-Test to make sure you understand the terminology and formulas.
- Work the Practice as You Learn problems to reinforce the concepts you’ve reviewed.
- Now you’re ready to start to work your practice tests!
- Work the Self Test, then the Easy Test, followed by the Medium Test and
Hard Test (if it gets harder) as your understanding significantly increases.
- Work the Self Test, then the Easy Test, followed by the Medium Test and
- Take specific notes on what you are missing and what to watch out for so that you do not make the same mistake on your test.
- Make sure you write out the answers to the problems on paper (like you will do on your test).
Subjects Covered
Video Lectures
Overview of Financial Accounting
Cash Flow Statement and Statement of Equity
Transactions that Change the Balance Sheet
The Accrual Basis Income Statement
The Accrual Basis Balance Sheet
Recording Transactions on a Spreadsheet: Overview
Recording Balance Sheet Transactions on a Spreadsheet
Recording Income Statement Transactions on a Spreadsheet
Record Journal Entries and Balance T Accounts
Cash and the Bank Reconciliation
Accounting for Bad Debt Expense
Inventory: Periodic FIFO/LIFO/Average
Investments: Cost & Fair Market Value Method
Investments: Fair Market Value Method
Investments: Equity Method Example
Bonds Payable: Pricing and Amortization Schedule
Stockholder’s Equity: Overview
Stockholder’s Equity: Recording Transactions 1
Stockholder’s Equity: Recording Transactions 2
Cash Flow Statement: Direct & Indirect