LESSON 1 INTRODUCTION TO ACCOUNTING

1.1 What Is Accounting?

1.2 Financial Accounting and Managerial Accounting

1.3 Financial Statements

1.4 Income Statement

1.5 Revenue

1.6 Expense

1.7 The Statement of Changes in Equity

1.8 Balance Sheet

1.9 Assets

1.10 Liabilities

1.11 Owner's Equity (Capital)

1.12 Statement of Cash Flows

1.13 Accounting Equation

1.14 Example for Assets=Claims

1.15 How the Elements of Accounting Equation Change?

1.16 Ending Balances

Terms and Phrases

Notes

Exercises

LESSON 2 THE BALANCE SHEET AND DOUBLE ENTRY

2.1 Introduction

2.2 The Effect of Transactions on the Balance Sheet

2.3 The Two Sections of a Balance Sheet

2.4 Business Entity

2.5 Buy Jeans Not Yet to Pay

2.6 The Ordering and Classification of Assets and Liabilities

2.7 The Classification of Assets

2.8 The Classification of Liabilities (Creditors)

2.9 Working Capital

2.10 Jane's Business

2.11 Recording Business Transactions

2.12 Basic Rules for Recording Business Transactions

2.13 An Example of Dual Aspect Concept

2.14 Double Entry Rule

2.15 T-account

2.16 Two Important Rules about Double-entry Recording System

2.17 Application of the Double Entry Rule

2.18 An Example of the Double Entry Rule

2.19 Another Example of the Double Entry

2.20 Transaction No.1: Starting the Operations

2.21 Transaction No.2: Purchasing Office Supplies

2.22 Transaction No.3.Providing Services on Account

2.23 Transaction No.4.Paying Cash for Operating Expenses

2.24 Transaction No.5.Borrowing Money from Bank

2.25 Transaction No.6: Paying Rent

2.26 Transacnon No.7.Receiving Cash for the Provided Services

2.27 Transaction No.8: Receiving an Advanced Cash Payment

2.28 Transaction No.9: Receiving Cash for Operating Activity

2.29 Transaction No.10.Loaning to Other Company

2.30 Transaction No.11: Paying Cash to Purchase Office Equipment

2.31 Transaction No.12.Paying Cash to Accounts Payable

2.32 Transaction No.13.Receiving a Bill for Office Cleaning Services

2.33 Transaction No.14.Paying Cash Distribution to the Owner

2.34 Making Adjusting Entries

2.35 Adjustment No.1.Recognizing Interest Expense

2.36 Adjustment No.2.Recognizing Rent Expense

2.37 Adjustment No.3.Recording a Revenue for the Provided Services

2.38 Adjustment No.4.Recording Interest Revenue

2.39 Adjustment No.5..Recognizing Depreciation Expense

2.40 Adjustment No.6.Recognizing Salaries Expense

2.41 Adjustment No.7..Expensing the Supplies

2.42 Transferring Data to T-accounts

2.43 A Summary of the Principles of Accounts

2.44 The Procedures of Accounting

2.45 The Journal

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Lesson3 Current Assets

Lesson4 Long Term Assets

Lesson5 Liabilities

Lesson6 Owner Equity

Lesson7 Income Statement

Lesson8 Statement of Cash Flows

Lesson9 Interpretations of Financial Statements