Expert answer:Financial Accounting for managers

Solved by verified expert:Instructions : Exam: Chapters 1 through 8 (25 multiple choice question)Timed Test This test has a time limit of 3 hours for each part.Timer Setting You will be notified when time expires, and you may continue or submit.Force Completion This test can be saved and resumed later. The timer will continue to run if you leave the test.Here are the steps in order:1. https://pslogin.strayer.edu/2. Go to week 5 midterms link3. It will open up another browser directly to the test siteMidterm:Covers Chapters 1 through 8.Part 1 and Part 2 consists of 25 questions for each part
chapters_notes_topic.docx

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Week 1 Course Learning Outcomes
Analyze and interpret financial statements.
Examine financial reporting considerations for receivables, long-term assets, and cash flows.
Chapter 1: Notes Topic
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The Four Core Financial Statements
Introduction to Financial Statements
Debits and Credits – The Secrets
Chapter 2: Notes Topics
Week 2 topics cover accounting information system and accrual accounting. Accounting
information system discusses about the process of generating financial statements. The process
includes identifying economic transactions, analyzing the transactions in terms of the effect on
accounting equation, recording transactions on journals, summarizing in the accounts, preparing
trial balance after adjustment and prepare financial statements. Note that financial statements are
the end products of the accounting process.
In accrual accounting concepts you learn as to when revenue is recognized and expenses are
incurred; compare accrual basis with cash basis. You also learn about adjusting and closing
entries.
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Accounting Information System
Accrual and Cash Basis Accounting
Accrual vs. Cash-Basis Accounting
Chapter 3: Notes Topics
Analyze merchandising and multi-step income statements.
Examine inventory as it relates to financial statements.
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Merchandising Operations and the Multiple-Step Income Statement
Reporting and Analyzing Inventory
Chapter 4: Notes Topic
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Evaluate management control systems and their relationship with accounting and planning
including feedback and non-financial performance measurements.
Fraud, Internal Control, and Cash
Cash and Bank Reconciliation
Chapter 5: Notes Topic
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Examine financial reporting considerations for receivables, long-term assets, and cash
flows.
Reporting and Analyzing Receivables
Chapter 6: Notes topic
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Multiple Step Income Statement
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Accounting for merchandising operations
Financial Accounting
Chapter 7: Notes topics
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Fraud, Internal Control, and Cash
Internal Controls
Cash and Bank Reconciliation
Chapter 8: Notes topics
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Reporting and Analyzing Receivables
Accounts Receivable Management
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Recording Estimated Bad Debts Expense
Percent of Sales Method
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