Financial Accounting Principles Lessons online

Principles of financial accounting: Free lessons online
by simplestudies.com
This site help learning accounting basics; it contains some exercises: accounting problems with solutions
Contents:
Lesson 1 - accounting and its role, accounting information, elements of financial reporting, fundamental accounting equation, introduction to accounting entries.
Lesson 2 - accrual accounting, events recording under accounting equation, revenues and expenses, adjusting entries.
Lesson 3 - deferrals, events recording under accounting equation, financial statements preparation, costs vs. expenses.
Lesson 4 - double-entry accounting system, T-account, debit and credit, closing entries, general journal records.
Lesson 5 - service vs. merchandising companies, product vs. selling and administrative costs, perpetual and periodic inventory systems, single- and multistep income statements.
Lesson 6 - allowance and direct write-off methods for bad debts, credit purchases, warranty obligations, discount notes.
Lesson 7 - inventory cost flow methods (FIFO, LIFO, etc.), sample computations for these methods and respective financial statements differences, lower of cost or market rule for inventories.
Lesson 8 - tangible vs. intangible assets, historical cost of assets, depreciation methods, natural resources and depletion, intangible assets and amortization, goodwill.
Exercises:
Lesson 1: Introduction to Accounting
Lesson 2: Accruals
Lesson 3: Deferrals
Lesson 4: Applying New Techniques
Lesson 5: Merchandising Business
Lesson 6: Advanced Accruals
Lesson 7: Inventories
Lesson 8: Long-term Assets
Problems Solutions
Download lessons: Lecture Problems and Solutions