Financial
Management
101

1

Accounting Career, Concepts and Principles

SG 1
1.3 MB

2

• Accounting for a Sole Proprietorship
• The Accounting Equation: Assets = Liabilities + Capital
• Chart of Acounts
• Balance Sheet
• Make an Opening Entry in a general journal
• Open an account in a general ledger
• Post an opening entry from a general journal to a general ledger

SG 2
5.2 MB

3

• Changes caused by transactions
• Analyze how transactions affect items on an accounting equation
• Prepare a balance sheet after changes from transactions

SG 3
2.9 MB

4

• Analyze transactions as debits and credits
• Use T accounts to analyze transactions as debits and credits
• Ensure that debits always equal credits

SG 4
1.7 MB

5

• Record transactions in a combination journal
• Prove equality of debits and credits in a combination journal
• Prove cash
• Forward totals from one combination journal page to another
• Rule a combination journal page

SG 5
2.9 MB

6

• Post from a combination journal
• Indentify accounting practices related to posting
• Prepare a chart of accounts for a sole proprietorship
• Post amounts from a combination journal to a general ledger

SG 6
17.0 MB

7

• Define terms related to a work sheet
• Plan adjustments forsupplies and preaid insurance
• Complete a work sheet for a sole proprietorship
• Find and correct errors in accounting records

SG 7
10.4 MB

8

• Principles and practices related to financial statements
• Prepare an income statement from a work sheet for a sole proprietorship
• Prepare a balance sheet from a work sheet for a sole proprietorship

SG 8
7.5 MB

9

• Define terms and practices related to adjusting and closing entries
• Record and post adjusting entries
• Record and post closing entries
• Prepare a post-closing trial balance

SG 9
5.3 MB

10

• Define terms related to a current account and reconciling a bank statement
• Prepare selected business forms related to a current account
• Prepare a bank statement reconciliation
• Record selected transactions related to a current account

SG 10
5.9 MB

29

• Define terms and practices related to a petty cash system
• Establish a petty cash fund using a voucher system
• Record petty cash fund payments in a petty cash record
• Prepare a voucher to replenish a petty cash fund
• Determine if a petty cash fund is short or over
• Establish and replenish a petty cash fund using a cash payments journal

SG 29
8.9 MB