Financial Statements and Business Decisions

• Accounting and Financial Systems
• Four Key Financial Statements
• Relationship among the Financial Statements
• Management Uses of Financial Statements

The Need for Financial Reporting

• The Evolving Role of Financial Accountants
• Transparency in Financial Reporting
• The Concept of Quality of Earnings
• Corporate Annual Reports
• Segment Reporting and Analysis
• Management Discussion and Analysis

Reporting and Interpreting Sales Revenue, Receivables and Cash

• Accounting for Sales Revenues, Sales Discounts and Sales Returns
• Measuring and Reporting Receivables
• Cash and Cash Equivalents

Reporting and Interpreting Cost of Goods Sold and Inventory

• Nature of Inventory and Cost of Goods Sold
• Inventory Costing Methods
• Inventory Valuation and Write Down

Reporting and Interpreting Property, Plant and Equipment, Natural Resources and Intangibles

• Classifying Long-Lived Assets
• Measuring and Recording Fixed Assets
• Accounting for Subsequent Costs of Repairs, Maintenance, and Additions
• Depreciation and Amortization
• Accounting for Disposal of Assets
• Reporting and Accounting for Intangibles
• Accounting for Natural Resources

Reporting and Interpreting Liabilities

• Liabilities Defined and Classified
• Accounting for Contingent Liabilities

Reporting and Interpreting Owners’ Equity

• Ownership of a Corporation
• Types of Capital Stock
• Accounting for Capital Stock
• Stock Splits and Dividends
• Accounting for Treasury Shares

Reporting and Interpreting Investments

• Types of Equity and Debt Investments
• Accounting for Investments
• Fair Value and Equity Methods