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ACCT 150: Principles of Financial Accounting I

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ACCT 150: Principles of Financial Accounting I

This text introduces students to commonly accepted accounting principles as they pertain to external financial reporting. It addresses financial statements and their components. The use of financial statement ratios to make decisions is also reviewed. Finally, accounting ethics and internal controls are discussed.

Business
Publisher
HACC, Central Pennsylvania's Community College
Source
LibreTexts
Language
EN
Category
Accounting & Auditing
Read online Download PDF (open licence)
Contents· 41 sections
  1. 01: Why Is Financial Accounting Important
  2. 1.01: Making Good Financial Decisions about an Organization
  3. 1.02: Incorporation and the Trading of Capital Shares
  4. 1.03: Selecting a Legal Form for a Business
  5. 1.04: Using Financial Accounting for Wise Decision Making
  6. 1.05: End-of-Chapter Exercises
  7. 02: What Should Decision-makers Know So That Good Decisions Can Be Made about an Organization
  8. 2.01: Creating a Portrait of an Organization That Can Be Used by Decision Makers
  9. 2.02: Dealing with Uncertainty
  10. 2.03: The Need for Generally Accepted Accounting Principles
  11. 2.04: What principles does the FASB follow in setting accounting standards
  12. 2.05: Four Basic Terms Found in Financial Accounting
  13. 2.06: End-of-Chapter Exercises
  14. 03: In What Form Is Financial Information Actually Delivered to Decision Makers Such as Investors and Creditors
  15. 3.01: The Construction of an Income Statement
  16. 3.02: Reported Profitability and the Principle of Conservatism
  17. 3.03: Increasing the Net Assets of a Company
  18. 3.04: Reporting a Balance Sheet and a Statement of Cash Flows
  19. 3.05: End-of-Chapter Exercises
  20. 04: Why Should Decision Makers Trust Financial Statements
  21. 4.01: The Need for the Securities and Exchange Commission
  22. 4.02: The Role of the Independent Auditor in Financial Reporting
  23. 4.03: Performing an Audit
  24. 4.04: The Need for Internal Control
  25. 4.05: The Purpose and Content of an Independent Auditors Report
  26. 4.06: Accounting ethics
  27. 4.07: End-of-Chapter Exercises
  28. 05: How is the accounting equation used to summarize changes to amounts reported in the financial statements
  29. 5.01: Using a chart of accounts.
  30. 5.02: Summarizing transactions in the expanded accounting equation
  31. 5.03: Tracking the changes in assets.
  32. 5.04: Track the changes in liabilities.
  33. 5.05: Track changes in revenues and expenses.
  34. 5.06: Preparing financial statements from accounting equation worksheet.
  35. 5.07: End of chapter exercises
  36. 06: How are ratios used to help understand financial reporting
  37. 6.01: How is the cash collection cycle reported
  38. 6.02: What do ratios tell us about the liquidity of a company from its financial statements
  39. 6.03: What do financial statements tell us about the ability to sell inventory and collect from customers
  40. 6.04: What do the financial statements tell us about the profitability of a company
  41. 6.05: End of Chapter Exercises