FINANCIAL ACCOUNTING II

Back

Learning Outcomes

Will be able to define the basic concepts the period end transactions in accounting.
Explains the necessity of period-end transactions.
Explains the accounting cycle.
Explains the concepts of valuation and valuation approaches.
Applies the valuation criteria.
Will be able to account for period-end transactions of cash and similar assets.
Applies the cash shortage or surplus transactions.
Arranges bank and check transactions.
Accounts foreign exchages transactions and currency differences.
Define the end-term transactions for marketable securities.
Explains the end-of-period transactions related to securities investments.
Applies end-terms transactions for marketable securities.
Will be able to account end-term transactions for trade receivables.
Performs end-terms transactions regarding undeclared receivables.
Performs end-term transactions regarding receivables with notes.
Applies end-term transactions for doubtful commercial receivables.
Will be able to end-term transactions for inventories.
Explains the perpetual and periodic inventory systems.
Explains and applies the inventory valuation methods.
Transfers the income and exspense accounts related to goods movements to the Profits&Loss; account.
Will be explains end-term transactions for fixed assets.
Classifies fixed assets.
Explains fixed asset costs and depreciation applications.
Explains other for end-term applications related to fixed assets.
Will be able to end-term transactions for liabilities.
Explains end-term transactions for accounts payable.
Explains end-term transactions for notes payable.
Accounts tax and other periodic debt transactions.
Will be able to account end-term transactions related to income and expense accounts.
Perform end-term transactions for income accounts.
Perform end-term transactions for expense accounts.
Reports the result of income and expenses the Income Statement and Balance Sheet.
Makes period-end closing records.