Audience

Managers, prospective managers, and other employees seeking advanced competency in the area of accounting

Prerequisites

An understanding of primary accounting concepts and methods

Course Aim

To explain the processes of recording equity and debt financing activities

Learning Objectives

Discuss operating, investing, and financing activities. Explain the expenditure, revenue, and conversion cycles. Describe the importance of merchandise accounting and inventory control for merchandising companies. Distinguish between periodic and perpetual inventory systems. Explain the four primary methods of tracking inventory costs. Describe how operating events are reported in the balance sheet, income statement, and statement of cash flows. Describe the impact of errors in financial statements and inventory reports. Describe the payroll taxes that must be paid by employers and employees. Describe how accounting events relating to payroll and payroll taxes are recorded.

Topics Covered

Recording Long-term Notes - Accounting for notes payable - Hands-on: Identifying notes - Accounting for bonds Recording Bond Retirements and Leases - Bond retirements - Accounting for leases - Hands-on: Recording capital leases Noncorporate Equity Financing - Financing a sole proprietorship - Financing a partnership - Changes in partnerships - Hands-on: Admitting a partner Corporate Equity Financing - Accounting for corporate capital - Accounting for other equity issues - Reporting corporate equity - Hands-on: Recording dividends

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