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Course 2 - Preparing Financial Statements (Video) (Course Id 1901)

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Author : Jamie Pratt, Emeritus Professor of Accounting, Speaker, Author
Status : Production
CPE Credits : 3.5
IRS Credits : 0
Price : $51.95
Passing Score : 70%
Course Type: Video - NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1901

Description :

This course is the second in the 8-course series offered by PRATTedu covering Financial Reporting and Analysis. It is comprised of 12 videos, demonstrating the process of preparing a complete set of financial statements, including discussions of the basic accounting equation, journal entries, ledgers, and contra accounts (e.g., accumulated depreciation and treasury stock).  The last two videos address the differences between accruals and cash flows, and the items that reconcile net income on the income statement with net cash from operating activities in the operating section of the statement of cash flows. 

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 11-Oct-2021
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

Video - NASBA QAS - Text - Technical - NASBA Registry - 1901

Keywords : Accounting, Course2, Preparing, Financial, Statements, Video, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After completing the course you should be able to:
  • State the basic accounting equation and explain how it relates to the financial statements.
  • Apply the basic accounting equation to transactions that lead to a simple balance sheet.
  • Apply the basic accounting equation to transactions that lead to a complete set of financial statements.
  • Describe the structure and role of journal entries and ledgers.
  • Use journal entries and ledger accounts to prepare a simple balance sheet.
  • Use journal entries and ledgers accounts to prepare a complete set of financial statements.
  • Explain how closing entries transition the financial statements from one period to the next.
  • Define contra accounts and the role they play on the financial statements.
  • Define treasury stock and describe where it can be found on the financial statements.
  • Demonstrate how the sale of non-inventory assets affects the financial statements.
  • Discuss and illustrate the difference between the accrual-basis and cash basis of accounting.
  • Demonstrate using several examples how net income on the income statement can be reconciled with net cash from operating activities on the statement of cash flows.

Course Contents :

Chapter 1 - Preparing Financial Statements - Section 1

Chapter 1 - Section 1 Review Questions

Chapter 1 - Preparing Financial Statements - Section 2

Chapter 1 - Section 2 Review Questions

Chapter 1 - Preparing Financial Statements - Section 3

Chapter 1 - Section 3 Review Questions

Chapter 1 - Preparing Financial Statements - Section 4

Chapter 1 - Section 4 Review Questions

Chapter 1 - Preparing Financial Statements - Section 5

Chapter 1 - Section 5 Review Questions

Chapter 1 - Preparing Financial Statements - Section 6

Chapter 1 - Section 6 Review Questions

Chapter 1 - Preparing Financial Statements - Section 7

Chapter 1 - Section 7 Review Questions

Chapter 1 - Preparing Financial Statements - Section 8

Chapter 1 - Section 8 Review Questions

Chapter 1 - Preparing Financial Statements - Section 9

Chapter 1 - Section 9 Review Questions

Chapter 1 - Preparing Financial Statements - Section 10

Chapter 1 - Section 10 Review Questions

Chapter 1 - Preparing Financial Statements - Section 11

Chapter 1 - Section 11 Review Questions

Chapter 1 - Preparing Financial Statements - Section 12

Chapter 1 - Section 12 Review Questions

Glossary

CPE Accounting Course: https://www.cpethink.com/qas-cpa-courses
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