Financial Accounting Part 1

Anyone who needs to interpret financial statements or communicate financial results needs a solid understanding of financial accounting. This comprehensive, self-contained training course is designed to give business professionals—including managers, analysts, and entrepreneurs—the confidence they need to use financial data to drive strategic decision-making. Professors Jim Stice and Earl Kay Stice use actual reports from real-world companies like Microsoft and Walmart to drive home ideas such as the difference between net income and cash flow and why the credits and debits system is so important to everyday accounting. They help you understand assets and liabilities; interpret balance sheets, income statements, and statement of cash flows; evaluate and adjust journal entries; and prepare your own financial statements. This is an MBA-level course, layered with case studies and insights that will help you bridge the gap between the academics of accounting and its real-world application.

Contents:

• Introduction
• 1. The Accounting Equation
• 2. Assets
• 3. Liabilities
• 4. Owner's Equity
• 5. Financial Statements: Balance Sheet
• 6. Financial Statements: Income Statement
• 7. Financial Statements: Statement of Cash Flows
• 8. How Financial Statements Are Made
• 9. Debits and Credits
• 10. Accrual Accounting
• Conclusion