General Topics General Topics
25%
- 1.1Generally accepted accounting principles
- 1.2Rules of double-entry accounting/transaction analysis/accounting equation
- 1.3The accounting cycle
- 1.4Business ethics
- 1.5Purpose of, presentation of, and relationships between financial statements
- 1.6Forms of business
The Income Statement The Income Statement
25%
- 2.1Presentation format issues (e.g., single-step vs multi-step)
- 2.2Recognition of revenue and expenses
- 2.3Cost of goods sold
- 2.4Nonoperational items (e.g., gains and losses, etc.)
- 2.5Profitability analysis
The Balance Sheet The Balance Sheet
35%
- 3.1Cash and internal controls
- 3.2Valuation of accounts and notes receivable (including bad debts)
- 3.3Valuation of inventories
- 3.4Acquisition and disposal of long-term assets
- 3.5Depreciation/amortization/depletion
- 3.6Intangible assets (e.g., patents, goodwill, etc.)
- 3.7Accounts and notes payable
- 3.8Long-term liabilities (e.g., bonds payable)
- 3.9Owner's equity
- 3.10Preferred and common stock
- 3.11Retained earnings
- 3.12Liquidity, solvency, and activity analysis
Statement of Cash Flows Statement of Cash Flows
8%
- 4.1Indirect method
- 4.2Cash flow analysis
- 4.3Operating, financing, and investing activities
- 4.4Noncash financing and investing activities
Miscellaneous Miscellaneous
2%
- 5.1Investments
- 5.2Contingent liabilities