Diploma in Logistics and Supply Chain Management: Introduction to Accounting

About Course

This course covers basic accounting concepts and principles and their application to business transactions: the accounting cycle leading to financial statements preparation with emphasis on the balance sheet, the income statement and the statement of owner’s equity, and an introductory consideration of selected asset accounts like cash, receivables and merchandise inventory.

Course Content

Topic 1: Introduction to Accounting

Topic 1: Introduction

00:00
LO1: Define the Fundamental Concepts, Principles, and Terminology of Accounting

00:00
LO2: Describe the Objectives of Financial Reporting and the Purpose of Financial Information for Different Users

00:00
LO3: Explain the Role of Accounting in Supporting Business Activities and Financial Accountability

00:00

Topic 2: Accounting in Business

Topic 3: Analyzing and Recording Transactions

Topic 4: Adjusting Accounts for Financial Statements

Assessment I

Topic 5: Completing the Accounting Cycle and Classifying Accounts

Topic 6: Accounting for Merchandising Activities

Topic 7: Merchandise Inventory and Cost of Sales

Topic 8: Internal Control and Cash

Assessment II

Topic 9: Receivables

Topic 10: Payroll Liabilities

Final Exam

About Course

What Will You Learn?

Course Content

Topic 1: Introduction to Accounting

Topic 1: Introduction

LO1: Define the Fundamental Concepts, Principles, and Terminology of Accounting

LO2: Describe the Objectives of Financial Reporting and the Purpose of Financial Information for Different Users

LO3: Explain the Role of Accounting in Supporting Business Activities and Financial Accountability

Topic 2: Accounting in Business

Topic 2: Introduction

LO1: Describe how Accounting Supports Business Operations and Organizational Performance

LO2: Demonstrate the use of Accounting Information Systems to Capture, Process, and Maintain Financial Records

LO3: Interpret Accounting Information to Assist Routine Business Planning and Operational Decisions

Topic 3: Analyzing and Recording Transactions

Topic 3: Introduction

LO1: Identify Business Transactions and their Effects on the Accounting Equation

LO2: Apply Double-Entry Accounting Principles to Analyze and Journalize Financial Transactions

LO3: Verify the Accuracy and Completeness of Transaction Records using Appropriate Documentation

Topic 4: Adjusting Accounts for Financial Statements

Topic 4: Introduction

LO1: Explain the Purpose and Importance of Adjusting Entries in the Accounting Cycle

LO2: Prepare Adjusting Entries for Accruals, Deferrals, and Estimated Items

LO3: Analyze the Impact of Adjusting Entries on the Accuracy of Financial Statements

Assessment I

Assessment I

Topic 5: Completing the Accounting Cycle and Classifying Accounts

Topic 5: Introduction

LO1: Summarize the Steps of the Accounting Cycle From Transaction Analysis Through Closing

LO2: Classify Assets, Liabilities, Owner’s Equity, Revenue, and Expenses According to Accounting Principles

LO3: Prepare the Balance Sheet, Income Statement, and Statement of Owner’s Equity From Completed Accounting Records

Topic 6: Accounting for Merchandising Activities

Topic 6: Introduction

LO1: Explain the Operating Characteristics and Accounting Requirements of Merchandising Businesses

LO2: Record Merchandising Transactions Using Appropriate Accounting Methods

LO3: Analyze How Merchandising Transactions Affect Revenue, Expenses, and Business Profitability

Topic 7: Merchandise Inventory and Cost of Sales

Topic 7: Introduction

LO1: Explain Merchandise Inventory Concepts and Common Inventory Valuation Methods

LO2: Calculate Inventory Values and Cost of Sales Using Appropriate Methods

LO3: Analyze the Effects of Inventory and Cost of Sales on Financial Statements

Topic 8: Internal Control and Cash

Topic 8: Introduction

LO1: Define the Purpose of Internal Control in Protecting Cash and Other Business Assets

LO2: Apply Internal Control Procedures to Strengthen Cash Management Practices

LO3: Analyze Internal Control Systems to Identify Weaknesses That May Lead to Errors or Fraud

Assessment II

Assessment II

Topic 9: Receivables

Topic 9: Introduction

LO1: Explain the Nature, Classification, and Recognition of Accounts and Notes Receivable

LO2: Record Receivables and Related Transactions Using Appropriate Accounting Procedures

LO3: Analyze the Effects of Receivables on Liquidity and Financial Position

Topic 10: Payroll Liabilities

Topic 10: Introduction

LO1: Explain Payroll Liabilities and Employer Responsibilities in Payroll Accounting

LO2: Calculate Employee Payroll Deductions and Employer Contributions Accurately

LO3: Interpret Payroll Information to Support Financial Reporting and Legislative Compliance

Final Exam

Final Exam Review

Final Exam Review

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