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Financial Accounting
Book # 1:
The course on Financial Accounting typically covers the fundamental
principles and concepts of accounting that are used to record, analyze, and
report financial information
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Here is a breakdown of the topics
commonly covered in a course on Financial Accounting:
1
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Keeping Track of Business Transactions:
- The financial cycle
- Journalizing transactions
- Posting to general ledger accounts
- Trial balance
3
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Accounting Cycle Completion:
- Preparation of financial statements (income statement, balance sheet,
statement of cash flows)

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- Closing entries
- Trial balance after closure
5
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Inventories:
- Cost flow assumptions (FIFO, LIFO, weighted average)
- Lower of cost or market (LCM)
- Inventory valuation techniques
7
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Liabilities:
- Current and long-term liabilities
- Bonds payable
- Contingent liabilities
9
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Statement of Cash Flows:
- Operating, investing, and financing activities
- Direct and indirect methods of preparing the statement of cash flows

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11
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International Financial Reporting Standards (IFRS):
- Comparison with Generally Accepted Accounting Principles (GAAP)
- Convergence efforts
This is a general outline of topics typically covered in a Financial Accounting
course
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BOOK # 2
Certainly, here is a revised version of the content without plagiarism:
## Chapter 1: Introduction to Financial Accounting
- Defining Financial Accounting
- Objectives and Significance of Financial Accounting
- Stakeholders and Users of Financial Accounting Information
- Understanding the Accounting Equation
- Exploring the Accounting Cycle
## Chapter 2: Recording Business Transactions
- Importance of Source Documents

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- Journalizing Business Transactions
- Maintaining Ledger Accounts
- Process of Posting Transactions
## Chapter 3: Adjusting Entries
- Rationale Behind Adjusting Entries
- Different Types of Adjusting Entries
- Procedure for Creating Adjusting Entries
## Chapter 4: Financial Statements
- Crafting the Balance Sheet
- Constructing the Income Statement
- Analyzing the Statement of Cash Flows
- Understanding the Statement of Changes in Equity
## Chapter 5: Accrual Accounting
- Grasping Accruals and Deferrals
- Influence of Accrual Accounting on Financial Statements
## Chapter 6: Inventory Accounting
- Overview of Various Inventory Valuation Methods
- Effects of Inventory Accounting on Financial Statements

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## Chapter 7: Long-Term Assets
- Classification of Long-Term Assets
- Accounting Treatment for Long-Term Assets
## Chapter 8: Liabilities
- Differentiating Types of Liabilities
- Accounting Procedures for Liabilities
## Chapter 9: Equity
- Types of Equity
- Accounting Mechanisms for Equity
## Chapter 10: Financial Statement Analysis
- Conducting Ratio Analysis
- Employing Trend Analysis
- Applying Common-Size Analysis
## Chapter 11: International Financial Reporting Standards (IFRS)
- Introduction to International Financial Reporting Standards (IFRS)
- Advantages of Implementing IFRS

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- Challenges Associated with IFRS Adoption
## Appendix: Selected Exercise Solutions
This comprehensive guide thoroughly covers the fundamental concepts of
financial accounting essential for a BBA curriculum
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Furthermore, the publication includes the latest updates on accounting
standards, encompassing the realm of IFRS
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KEYWORDS:
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Revenue Recognition
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Income Measurement
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Cost Accounting
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Financial Statement Analysis
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