Accounting 201

Ch 1. Overview of Financial Accounting
	Lesson 1 – What is Financial Accounting? – Definition & Purpose	Take Quiz
	Lesson 2 – The Fundamental Principles of Accounting	Take Quiz
	Lesson 3 – Accounting Disciplines: Descriptions and Definitions	Take Quiz
	Lesson 4 – Accounting Cycle: Definition, Steps & Process	Take Quiz
	Lesson 5 – The Accounting Equation: Definition & Components	Take Quiz

Go to chapter Overview of Financial AccountingPractice test: Overview of Financial Accounting

Ch 2. Ethical & Theoretical Frameworks for Financial Accounting
	Lesson 1 – What Is GAAP? – The Generally Accepted Accounting Principles	Take Quiz
	Lesson 2 – International Financial Reporting Standards (IFRS)	Take Quiz
	Lesson 3 – Periodic Reporting & the Time Period Principle	Take Quiz
	Lesson 4 – What Are Financial Statements? – Definition, Purpose & Importance	Take Quiz
	Lesson 5 – External and Internal Users and Uses of Accounting	Take Quiz

Go to chapter Ethical & Theoretical Frameworks for Financial AccountingPractice test: Ethical & Theoretical Frameworks for Financial Accounting

Ch 3. Preparing a Balance Sheet
	Lesson 1 – The Balance Sheet: Purpose, Components & Format	Take Quiz
	Lesson 2 – How to Prepare the Basic Balance Sheet and Statement of Cash Flows	Take Quiz
	Lesson 3 – Business Assets: Definition & Examples	Take Quiz
	Lesson 4 – Total Assets: Definition & Explanation	Take Quiz
	Lesson 5 – Liabilities in Accounting: Definition & Examples	Take Quiz
	Lesson 6 – Contingent Liabilities: Definition & Examples	Take Quiz
	Lesson 7 – Total Liabilities: Definition & Explanation	Take Quiz
	Lesson 8 – Reporting Depreciation on the Balance Sheet	Take Quiz
	Lesson 9 – Stockholder’s Equity: Definition & Formula	Take Quiz
	Lesson 10 – The Components of Stockholder Equity	Take Quiz
	Lesson 11 – How to Prepare a Balance Sheet in Accounting	Take Quiz

Go to chapter Preparing a Balance SheetPractice test: Preparing a Balance Sheet

Ch 4. Disclosure Requirements for Balance Sheets
	Lesson 1 – The Purpose of Notes on Financial Statements	Take Quiz
	Lesson 2 – Accounting Policies as Balance Sheet Disclosures	Take Quiz
	Lesson 3 – Parenthetical Explanations in Accounting: Examples & Analysis	Take Quiz
	Lesson 4 – Cross-References on Balance Sheets: Examples & Analysis	Take Quiz
	Lesson 5 – Valuation Allowances in Accounting: Examples & Analysis	Take Quiz
	Lesson 6 – Supporting Schedules on Balance Sheets: Examples & Analysis	Take Quiz
	Lesson 7 – Related Parties in Accounting: Examples & Analysis	Take Quiz
	Lesson 8 – Related Party Transactions: Definition & Examples	Take Quiz
	Lesson 9 – Comparative Statements as Balance Sheet Disclosures	Take Quiz
	Lesson 10 – Subsequent Events Disclosure: Example & Analysis	Take Quiz
	Lesson 11 – Contingencies on Balance Sheets: Example & Analysis	Take Quiz

Go to chapter Disclosure Requirements for Balance SheetsPractice test: Disclosure Requirements for Balance Sheets

Ch 5. Preparing an Income Statement
	Lesson 1 – What Is an Income Statement? – Purpose, Components & Format	Take Quiz
	Lesson 2 – Operations of an Income Statement	Take Quiz
	Lesson 3 – Cost of Goods Sold on an Income Statement: Definition & Formula	Take Quiz
	Lesson 4 – Net Profit: Definition & Calculation	Take Quiz
	Lesson 5 – Net Loss: Definition & Formula	Take Quiz
	Lesson 6 – How to Make an Income Statement: Example & Analysis	Take Quiz
	Lesson 7 – Preparing a Budgeted Income Statement	Take Quiz
	Lesson 8 – Preparing Standard Cost Income Statements	Take Quiz
	Lesson 9 – Comparing Income Measurement & Profitability	Take Quiz

Go to chapter Preparing an Income StatementPractice test: Preparing an Income Statement

Ch 6. Evaluating Cash Flows & Time Value of Money
	Lesson 1 – Cash Receipts Journal: Definition & Examples	Take Quiz
	Lesson 2 – Cash Payments Journal: Definition & Example	Take Quiz
	Lesson 3 – Indirect & Direct Ways to Report Operating Activities	Take Quiz
	Lesson 4 – The Six-Step Process for Preparing a Statement of Cash Flows	Take Quiz
	Lesson 5 – Analyzing Cash Flow Statement Patterns	Take Quiz
	Lesson 6 – Present and Future Value: Calculating the Time Value of Money	Take Quiz
	Lesson 7 – What is Annuity? – Definition & Formula	Take Quiz
	Lesson 8 – Present & Future Values of Multiple Cash Flows	Take Quiz
	Lesson 9 – Discounted Cash Flow, Net Present Value & Time Value of Money	Take Quiz

Go to chapter Evaluating Cash Flows & Time Value of MoneyPractice test: Evaluating Cash Flows & Time Value of Money

Ch 7. Cash Flow Statements: Direct & Indirect
	Lesson 1 – The Statement of Cash Flows: Purpose, Format & Examples	Take Quiz
	Lesson 2 – What Is Cash Flow? – Definition, Calculation & Example	Take Quiz
	Lesson 3 – Sources Needed to Prepare the Cash Flow Statement	Take Quiz
	Lesson 4 – Using the Direct Method to Prepare a Cash Flow Statement	Take Quiz
	Lesson 5 – Preparing a Cash Flow Statement by the Indirect Method	Take Quiz

Go to chapter Cash Flow Statements: Direct & IndirectPractice test: Cash Flow Statements: Direct & Indirect

Ch 8. Preparation of Cash & Receivables
	Lesson 1 – Accounts Receivable: Definition, Process & Examples	Take Quiz
	Lesson 2 – Receivables Management: Definition & Purpose	Take Quiz
	Lesson 3 – Converting Receivables to Cash Before Maturity	Take Quiz
	Lesson 4 – Notes Receivable: Definition, Maturity Date & Interest	Take Quiz
	Lesson 5 – Average Collection Period: Formula & Analysis	Take Quiz

Go to chapter Preparation of Cash & ReceivablesPractice test: Preparation of Cash & Receivables

Ch 9. Systems & Controls in Accounting		Best Score
	Lesson 1 – Internal Controls in Accounting: Definition, Types & Examples	Take Quiz
	Lesson 2 – Typical Problems with Financial Information	Take Quiz
	Lesson 3 – Safeguards & Controls of Banking Activities	Take Quiz
	Lesson 4 – Control of Cash: Definition & Methods	Take Quiz
	Lesson 5 – Control of Cash Receipts & Disbursements	Take Quiz
	Lesson 6 – What is Bank Reconciliation? – Definition, Purpose, Process & Examples	Take Quiz
	Lesson 7 – Technology’s Impact on the Internal Control System	Take Quiz
	Lesson 8 – Error vs. Fraud in Financial Reporting	Take Quiz
	Lesson 9 – The Sarbanes-Oxley Act: Definition and Explanation	Take Quiz
	Lesson 10 – External Audits of Financial Statements	Take Quiz

Go to chapter Systems & Controls in AccountingPractice test: Systems & Controls in Accounting

Ch 10. Inventory Process in Accounting
	Lesson 1 – Inventory Control Systems: Types & Purpose	Take Quiz
	Lesson 2 – Inventory Cost: Definition, Methods & Types	Take Quiz
	Lesson 3 – Calculating Beginning Inventory: Formula & Explanation	Take Quiz
	Lesson 4 – Calculate Ending Inventory: Formula & Explanation	Take Quiz
	Lesson 5 – Perpetual and Periodic Inventory Systems	Take Quiz
	Lesson 6 – Accounting for Inventory Purchases	Take Quiz
	Lesson 7 – Recording Purchases Using the Perpetual System	Take Quiz
	Lesson 8 – Accounting for Inventory Sales	Take Quiz
	Lesson 9 – Recording Sales Using the Perpetual System	Take Quiz
	Lesson 10 – Inventory Counting: Process & Methods	Take Quiz
	Lesson 11 – Inventory Valuation Methods: Specific Identification, FIFO, LIFO & Weighted Average	Take Quiz
	Lesson 12 – The Effects of Financial Statements on Costing Methods	Take Quiz
	Lesson 13 – The Effects of Inventory Errors	Take Quiz
	Lesson 14 – The Lower of Cost or Market of Inventory: Definition & Method	Take Quiz
	Lesson 15 – Net Realizable Value of Inventory: Definition & Method	Take Quiz

Go to chapter Inventory Process in AccountingPractice test: Inventory Process in Accounting

Ch 11. Business Transactions in Accounting
	Lesson 1 – Recording Business Transactions in Accounting	Take Quiz
	Lesson 2 – How to Record Asset Acquisition, Disposal & Impairment in Accounting	Take Quiz
	Lesson 3 – Direct & Indirect Expenses: Definition & Examples	Take Quiz
	Lesson 4 – Operating Expenses: Definition, Formula & Examples	Take Quiz
	Lesson 5 – Depreciation: Definition, Formula & Examples	Take Quiz
	Lesson 6 – Methods of Depreciation	Take Quiz
	Lesson 7 – Partial-Year Depreciation & Changes in Estimates	Take Quiz
	Lesson 8 – Accumulated Depletion	Take Quiz
	Lesson 9 – Amortization of Intangible Assets: Definition & Examples	Take Quiz

Go to chapter Business Transactions in AccountingPractice test: Business Transactions in Accounting

Ch 12. Financial Accounting & Management
	Lesson 1 – Role of Financial Accounting in Management & Decision Making	Take Quiz
	Lesson 2 – Using the Statement of Cash Flows for Decision Making	Take Quiz
	Lesson 3 – Forecasting: Strategic Role, Components & Types	Take Quiz
	Lesson 4 – The Role of Cost Accounting in Management	Take Quiz
	Lesson 5 – Computing and Interpreting Return on Assets	Take Quiz
	Lesson 6 – Break-Even Analysis: Definition & Example	Take Quiz
	Lesson 7 – Expected Values of Perfect Information in Business	Take Quiz

Go to chapter Financial Accounting & ManagementPractice test: Financial Accounting & Management

Ch 13. Financial Ratios & Business Applications
	Lesson 1 – Common Financial Ratios: Terms & Use	Take Quiz
	Lesson 2 – The Working Capital Ratio: Formula & Use	Take Quiz
	Lesson 3 – Quick Ratio in Accounting: Definition, Formula & Example	Take Quiz
	Lesson 4 – How to Calculate Earnings Per Share: Definition & Formula	Take Quiz
	Lesson 5 – The Price-Earnings Ratio: Definition, Formula, and Analysis	Take Quiz
	Lesson 6 – The Debt to Equity Ratio: Definition, Calculation, & Usefulness	Take Quiz
	Lesson 7 – The Return on Equity Ratio: Formula, Calculation & Analysis	Take Quiz

Go to chapter Financial Ratios & Business ApplicationsPractice test: Financial Ratios & Business Applications

Ch 14. Studying for Accounting 201
	Flashcards – Overview of Financial Accounting Flashcards
	Flashcards – Ethics & Theory Frameworks for Financial Accounting Flashcards
	Flashcards – Balance Sheet Preparation Flashcards
	Flashcards – Disclosure Requirements for Balance Sheets Flashcards
	Flashcards – Income Statement Preparation Flashcards
	Flashcards – Cash Flows & Time Value of Money Flashcards
	Flashcards – Cash Flow Statements & Receivables Flashcards
	Flashcards – Accounting Systems & Controls Flashcards
	Flashcards – Inventory Process in Accounting Flashcards
	Flashcards – Business Transactions in Accounting Flashcards
	Flashcards – Financial Accounting & Management Flashcards
	Flashcards – Financial Ratios & Business Applications Flashcards
	Lesson 13 – Accounting 201: Intermediate Accounting I Formulas

Go to chapter Studying for Accounting 201