BA_BADM 100: Business Accounting (Supreme)

About Course

This course introduces students to the basics of business math, bookkeeping, and generally accepted accounting principles and processes used in recording, summarizing, and reporting financial information.

Students will know how to post to the general journal and ledger, complete payroll, and prepare accounts receivables and payables, income statements, the statement of owner’s equity, and balance sheets.

Explain accounting’s conceptual framework and underlying assumptions.
Collect, recognize, record, and analyze business transactions using generally accepted accounting principles.
Explain the elements of and relationships between each type of financial statement.
Understand the purpose of financial statements in the context of managerial decision-making.
Understand the analysis and interpretation of financial accounting information.
Determine the value of inventory using accepted methodologies.
Understand the role of and prepare an income statement, balance sheet, a statement of cash flows, and statement of shareholder’s equity.
Describe the measures of profitability and liquidity.
Apply accounting principles in asset, liability, and capital valuation.
Apply the knowledge and skills acquired to solve business problems.
Apply accounting concepts, principles and frameworks to communicate financial information to a variety of audiences.

Course Content

Module I

Topic 1: Introduction to Accounting

00:00
LO1: Describe the Purpose and Importance of Accounting

00:00
LO2: Identify the users, uses, and opportunities in Accounting

00:00
LO3: Explain why Ethics and Social Responsibility are crucial to Accounting

00:00
LO4: Summarize the GAAP and its fundamental Principles

00:00
Case Study: Introduction to Accounting
LO5: Solve the quiz for Introduction to Accounting
Topic 2: Accounting in Business

00:00
LO1: Explain the reporting aims of Financial Statements

00:00
LO2: Analyze Business Transactions by applying the Accounting Equation

00:00
LO3: Describe how to prepare Financial Statements reflecting Business Transactions

00:00
LO4: Solve the quiz for Accounting in Business
Case Study: Accounting in Business
Topic 3: Analyzing and Recording Transactions

00:00
LO1: Comprehend the Accounting Cycle and define the concepts of Account and Ledger in Financial Management

00:00
LO2: Define Debits, Credits, and Double-Entry Accounting

00:00
LO3: List and explain the steps in Recording Transactions in a Journal

00:00
LO4: Prepare and explain the use of a Trial Balance

00:00
LO5: Solve the quiz for Analyzing and Recording Transactions
Case Study: Analyzing and Recording Transactions
Topic 4: Adjusting Accounts for Financial Statements

00:00
LO1: Explain the Purpose and Principles behind Adjusting Accounts

00:00
LO2: Discuss how to adjust entries for Prepaid expenses, Depreciation, Unearned revenues, Accrued expenses, and revenues

00:00
LO3: Describe the Alternatives in Recording Prepaids and Unearned Revenues

00:00
LO4: Solve the quiz for Adjusting Accounts for Financial Statements
Case Study: Adjusting Accounts for Financial Statements
Topic 5: Completing the Accounting Cycle and Classifying Accounts

00:00
LO1: Describe how to prepare Worksheet

00:00
LO2: Identify and explain the steps involved in the Closing Process at the end of each Accounting Period

00:00
LO3: Analyze the components of a classified Balance Sheet to assess Liquidity, Solvency, and Efficiency

00:00
LO4: Solve the quiz for Completing the Accounting Cycle and Classifying Accounts
Case Study: Completing the Accounting Cycle and Classifying Accounts
Topic 6: Accounting for Merchandising Activities

00:00
LO1: Explain Merchandising and Financial Statements for a Merchandiser

00:00
LO2: Differentiate between Periodic and Perpetual Merchandise Inventory Systems

00:00
LO3: Analyze Adjustments required for accurate Financial reporting in a Merchandising Company

00:00
LO4: Solve the quiz for Accounting for Merchandising Activities
Case Study: Accounting for Merchandising Activities
Topic 7: Merchandise Inventory and Cost of Sales

00:00
LO1: Identify components and costs included in the Merchandise Inventory

00:00
LO2: Analyze Inventory costing methods including specific identification, moving weighted average, and FIFO-perpetual

00:00
LO3: Evaluate the effects of the Costing methods on Financial Reporting

00:00
LO4: Solve the quiz for Merchandise Inventory and Cost of Sales
Case Study: Merchandise Inventory and Cost of Sales
Topic 8: Internal Control and Cash

00:00
LO1: Explain the Principles of Internal Control, Cash, and Internal Control of Cash

00:00
LO2: Describe the purpose and procedures involved in Petty Cash Fund Transactions

00:00
LO3: Discuss Banking activities and their control features

00:00
LO4: Explain the process of Bank Reconciliation and its significance in ensuring the accuracy of Financial records

00:00
LO5: Solve the quiz for Internal Control and Cash
Case Study: Internal Control and Cash
Topic 9: Receivables

00:00
LO1: Describe Accounts Receivable and how they are created

00:00
LO2: Comprehend the Allowance method of estimating Uncollectible Accounts receivable

00:00
LO3: Explain Short-term note receivable and its maturity date and interest

00:00
LO3: Solve the quiz for Receivables
Case Study: Receivables
Topic 10: Payroll Liabilities

00:00
LO1: Define Payroll Liabilities and its objective

00:00
LO2: Solve the quiz for Payroll Liabilities
Case Study: Payroll Liabilities
Assignment: 1
Module Based Quiz

About Course

What Will You Learn?

Course Content

Module I

Topic 1: Introduction to Accounting

LO1: Describe the Purpose and Importance of Accounting

LO2: Identify the users, uses, and opportunities in Accounting

LO3: Explain why Ethics and Social Responsibility are crucial to Accounting

LO4: Summarize the GAAP and its fundamental Principles

Case Study: Introduction to Accounting

LO5: Solve the quiz for Introduction to Accounting

Topic 2: Accounting in Business

LO1: Explain the reporting aims of Financial Statements

LO2: Analyze Business Transactions by applying the Accounting Equation

LO3: Describe how to prepare Financial Statements reflecting Business Transactions

LO4: Solve the quiz for Accounting in Business

Case Study: Accounting in Business

Topic 3: Analyzing and Recording Transactions

LO1: Comprehend the Accounting Cycle and define the concepts of Account and Ledger in Financial Management

LO2: Define Debits, Credits, and Double-Entry Accounting

LO3: List and explain the steps in Recording Transactions in a Journal

LO4: Prepare and explain the use of a Trial Balance

LO5: Solve the quiz for Analyzing and Recording Transactions

Case Study: Analyzing and Recording Transactions

Topic 4: Adjusting Accounts for Financial Statements

LO1: Explain the Purpose and Principles behind Adjusting Accounts

LO2: Discuss how to adjust entries for Prepaid expenses, Depreciation, Unearned revenues, Accrued expenses, and revenues

LO3: Describe the Alternatives in Recording Prepaids and Unearned Revenues

LO4: Solve the quiz for Adjusting Accounts for Financial Statements

Case Study: Adjusting Accounts for Financial Statements

Topic 5: Completing the Accounting Cycle and Classifying Accounts

LO1: Describe how to prepare Worksheet

LO2: Identify and explain the steps involved in the Closing Process at the end of each Accounting Period

LO3: Analyze the components of a classified Balance Sheet to assess Liquidity, Solvency, and Efficiency

LO4: Solve the quiz for Completing the Accounting Cycle and Classifying Accounts

Case Study: Completing the Accounting Cycle and Classifying Accounts

Topic 6: Accounting for Merchandising Activities

LO1: Explain Merchandising and Financial Statements for a Merchandiser

LO2: Differentiate between Periodic and Perpetual Merchandise Inventory Systems

LO3: Analyze Adjustments required for accurate Financial reporting in a Merchandising Company

LO4: Solve the quiz for Accounting for Merchandising Activities

Case Study: Accounting for Merchandising Activities

Topic 7: Merchandise Inventory and Cost of Sales

LO1: Identify components and costs included in the Merchandise Inventory

LO2: Analyze Inventory costing methods including specific identification, moving weighted average, and FIFO-perpetual

LO3: Evaluate the effects of the Costing methods on Financial Reporting

LO4: Solve the quiz for Merchandise Inventory and Cost of Sales

Case Study: Merchandise Inventory and Cost of Sales

Topic 8: Internal Control and Cash

LO1: Explain the Principles of Internal Control, Cash, and Internal Control of Cash

LO2: Describe the purpose and procedures involved in Petty Cash Fund Transactions

LO3: Discuss Banking activities and their control features

LO4: Explain the process of Bank Reconciliation and its significance in ensuring the accuracy of Financial records

LO5: Solve the quiz for Internal Control and Cash

Case Study: Internal Control and Cash

Topic 9: Receivables

LO1: Describe Accounts Receivable and how they are created

LO2: Comprehend the Allowance method of estimating Uncollectible Accounts receivable

LO3: Explain Short-term note receivable and its maturity date and interest

LO3: Solve the quiz for Receivables

Case Study: Receivables

Topic 10: Payroll Liabilities

LO1: Define Payroll Liabilities and its objective

LO2: Solve the quiz for Payroll Liabilities

Case Study: Payroll Liabilities

Assignment: 1

Module Based Quiz

Final Exam

Final Exam: Business Accounting

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