- Description
- Objectives
- Outline
- Materials
- System Requirements
- Watch a Demo
Our Principles of Accounting Level 2 course provides students with a solid understanding of a variety of accounting subjects that are uniquely applicable to managing business operations. Students will take a closer look at cash flow management, fundamentals of inventory, long-term assets, and liabilities. Our curriculum will also provide a thorough overview of corporation and partnership accounting.
Prerequisite(s): None
After completing this course, you should be able to:
- Describe the fundamentals of accounting for receivables
- Differentiate between current liabilities and long-term liabilities
- Recall aspects of inventory and cost of goods sold
- Identify the basics of corporate and partnership accounting
- Recognize approaches for managing cash flows
Principles of Accounting Level 2 Module 1
Accounting for Receivables
- Revenue Recognition Principle
- Fundamentals of Bad Debt Expenses and Allowances for Doubtful Accounts
- Efficiency of Receivables Management
- Receivables Ratios
- Earnings Management
- Long-Term Projects
- Notes Receivable vs. Accounts Receivable
Principles of Accounting Level 2 Module 2
Inventory
- Fundamentals of Inventory
- Periodic Inventory Method
- Four Basic Inventory Valuation Methods
- Cost of Goods Sold
- Ending Inventory Using the Period Method
- Ending Inventory Using the Perpetual Method
- Impact of Inventory Valuation Errors on Income Statement and Balance Sheet
Principles of Accounting Level 2 Module 3
Long-Term Assets
- Distinguish Between Tangible and Intangible Assets
- Patents
- Capitalized Costs vs. Expenses
- Fundamentals of Depreciation
- Fundamentals of Intangible Assets
- Special Issues for Long-Term Assets
Principles of Accounting Level 2 Module 4
Current Liabilities
- Fundamentals of Current Liabilities
- Analyze, Report, and Journal Current Liabilities
- Contingent Liabilities
- Short-Term Notes Payable
- Recording Transactions Incurred in Preparing Payroll
Principles of Accounting Level 2 Module 5
Long-Term Liabilities
- Pricing of Long-Term Liabilities
- Types of Long-Term Funding
- Effective-Interest Method
- Life Cycle of Bonds
- Bonds Payable
Principles of Accounting Level 2 Module 6
Corporation Accounting
- Organization of a Corporation
- Advantages of the Corporate Form
- Typical Common Stock Transactions
- Nature and Purposes of Dividends
- Owners’ Equity vs. Retained Earnings
- Earnings per Share
Principles of Accounting Level 2 Module 7
Partnership Accounting
- Characteristics of a Partnership
- Disadvantages of Organizing as a Partnership
- Types of Partnerships
- Dissolution of a Partnership
- Creation of a Partnership
- Allocation of Income and Loss
- Admission of New Partner
- Fundamentals of Partnership Dissolution
Principles of Accounting Level 2 Module 8
Statement of Cash Flows
- Approaches to Preparing the Statement of Cash Flows
- Operating, Investing, and Financing Activities
- Indirect Method
- Assessing Liquidity
- Solvency
- Free Cash Flow
**Outlines are subject to change, as courses and materials are updated.**
Ed4Career is committed to being both environmentally conscious and making it easier for you to study! We’re making your education mobile! All of our textbooks are now provided as eTextbooks. You can access them on your laptop, tablet, or mobile device and can study anytime, anywhere.
The move away from physical books to eTextbooks means you get the latest, most up-to-date version available. This also makes your training more accessible, so you can study anywhere you have your phone or tablet. The best part is that all materials are included in your training cost so there are NO extra fees for books!
Internet Connection
- Broadband or High-Speed - DSL, Cable, and Wireless Connections
*Dial-Up internet connections will result in a diminished online experience. Classroom pages may load slowly and viewing large audio and video files may not be possible.
Hardware Requirements
- Processor - 2GHz Processor or Higher
- Memory - 1 GB RAM Minimum Recommended
PC Software Requirements
- Operating Systems - Windows 7 or higher
- Microsoft Office 2013 or higher. Also, you could use a general Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
- Internet Browsers - Google Chrome is highly recommended
- Cookies MUST be enabled
- Pop-ups MUST be allowed (Pop-up Blocker disabled)
- The Kindle Reader App or VitalSource Bookshelf App are needed for many of our courses (No special equipment needed. This can be downloaded for FREE onto your computer.)
- PowerPoint Viewer (if you do not have PowerPoint)
- Adobe PDF Reader
- QuickTime, Windows Media Player &/or Real Player
MAC Software Requirements
- Operating Systems - Mac OS x 10 or higher with Windows
- Mac office programs or a Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
- Internet Browsers- Google Chrome is highly recommended
- Cookies MUST be enabled
- Pop-ups MUST be allowed (Pop-up Blocker disabled)
- The Kindle Reader App or VitalSource Bookshelf App are needed for many of our courses (No special equipment needed. This can be downloaded for FREE onto your computer.)
- PowerPoint Viewer (if you do not have PowerPoint)
- Adobe PDF Reader
- Apple QuickTime Media Player
