ACC 300 units
Review each unit's question, objectives, class meetings, reading, and assessments.
Units 1 through 3 cover the accounting cycle, financial performance, financial position, and cash flows. Units 4 through 7 cover cash and receivables, inventory, tangible assets, and intangible assets.
The units build on each other. Complete the assigned reading and practice before moving to the next unit.
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The reporting system and the accounting cycle
How do transactions become financial statements, and who sets the rules for what those statements report?
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The income statement and revenue recognition
Revenue sits at the center of more accounting frauds than any other line. Why is it hard to get right even when nobody is cheating?
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Financial position and current obligations
How should a company report its resources and current obligations?
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Cash flows and receivables
The allowance for credit losses is a guess about next year that goes on this year's balance sheet as a number. What separates a defensible guess from earnings management?
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Inventory
Three companies with the same purchases and the same sales can report three different gross margins, and all three are correct. What does that tell us about a financial statement?
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Property, plant, and equipment
Whether a cost becomes an asset or an expense moves reported income for years afterward. Who decides which one it is?
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Intangible assets
The most valuable assets of the largest companies in the world are mostly missing from their balance sheets. Is that a defect or a decision?
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