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Objectives:
By the end of the program, participants will be able to:
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Enhance their accounting knowledge by learning how to account for income measurement and recognition.
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Demonstrate knowledge of accounting for assets, including long-term assets and intangibles.
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Account for current liabilities, contingencies, long-term liabilities and bonds.
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Account for equity stock transactions, including dividends and long-term liabilities.
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Apply accounting for operating and capital leases and how it will affect income statement and balance sheet.
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Demonstrate knowledge of the rules of accounting changes and errors.
Outline:
Accounting: The Language of Business
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The Environment of Financial Reporting
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The Balance Sheet and the Statement of Changes in Stockholders’ Equity
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The Income Statement and the Statement of Cash Flows
Cash and Receivables
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Accounting for Cash and Receivables
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Allowances, Bad Debts, and Life-Cycle of Accounts Receivable
Inventory Life-Cycle
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Accounting for Inventory, Costing, and Measurement
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Computation of Cost of Goods Sold Using Inventory Costing Methods
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Inventory Valuations
Property, Plant, Equipment and Intangibles
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Accounting for Purchased Assets
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Depreciation of Assets Using Different Depreciation Methods
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Maintenance and Repairs of Operating and Capital Assets
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Accounting for Retired, Sold, and Written-Off Assets
Current Liabilities and Contingencies
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Accounts Payable and Accruals
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Advances and Refundable Deposits
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Warranty Obligations and Contingencies
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Investments Reporting and Classification
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Trading, Available-for-Sale and Held-to-Maturity Securities
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Accounting for Investments, Impairments and Disclosures
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Cost versus Equity Method
Contributed Capital
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Stock Subscriptions and Stock Splits
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Stock Options and Convertible Securities
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Treasury Stock Method and Dividends
Income Recognition and Measurement of Assets
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Revenue Recognition Principles
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Alternative Revenue Recognition Methods
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Percentage-of-Completion Method versus Completed- Contract Method
Accounting for Leases
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Operating Lease
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Capital Lease
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Disclosure Requirements
Accounting Changes and Errors
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Restatements and Prior Period Adjustments
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Accounting for a Change in an Estimate, Principle and Reporting Entity
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Accounting for a Correction of an Error
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