Description:
This course is comprised of 5 videos, focusing on how companies manage and account for the primary current assets: accounts receivable, inventory and some investments. It also provides a broad discussion of the general ways in which assets are depicted on the financial statements. The financial statements and the footnotes of the companies featured in this course include Caterpillar Financial, Caterpillar Manufacturing, John Deere, Nordstrom, Yahoo, Barnes & Noble, and Amazon.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: James Pratt

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 08/11/2021

Technical Details: Accounting: Technical

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Objectives:
1. Recognize how receivables appear on the balance sheet and how bad debts are accounted for.
2. Identify the four basic issues involved in accounting for merchandise inventory.
3. Differentiate raw materials, work in process and finished goods, and how costs are attached to the inventory account as products move through the manufacturing process and are eventually sold.
4. Recognize the three primary inventory cost flow assumptions and how they affect both the balance sheet and the income statement.
5. Identify the basic asset valuation approaches and how each approach affects the financial statements.

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA