In this course, students are introduced to the basic concepts and methods of corporate financial statements commonly used by investors and other interested external parties. Topics include University of Phoenix tools, basic accounting concepts, financial statements, inventory and fixed assets, present value of bonds and stockholders’ equity, statement of cash flows, and error correction and accounting changes.
This graduate course is 6 weeks.
This course has a prerequisite. Please see details in the Prerequisite section below.
PLEASE NOTE:Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.
Topics and Objectives
The Accounting Environment
- Recognize accounting language and concepts.
- Evaluate ethical behavior as it relates to accounting.
- Explain accounting transactions and accounts.
- Explain how accrual accounting differs from cash-basis accounting.
- Evaluate the guidelines for revenue and expense recognition.
Internal Controls and Current Assets
- Explain Internal Control Objectives.
- Analyze the components of cash and cash equivalents.
- Discuss net realizable receivables.
- Describe inventory valuation and cost flow assumptions.
Long Term Assets
- Analyze criteria for fixed asset capitalization.
- Determine the carrying basis of fixed assets.
- Employ depreciation using alternative depreciation methods.
- Describe accounting for intangible assets.
- Explain analysis and reporting of investments.
Liabilities and Stockholder’s Equity
- Describe current and contingent liabilities.
- Analyze accounting for bonds payable and interest expense.
- Explain financing with debt versus equity.
- Differentiate between operating and capital leases.
- Discuss reporting for stockholder’s equity.
Income Statement and Statement of Cash Flows
- Evaluate quality of earnings.
- Describe other items on the income statement and disclosures.
- Identify the purposes of the statement of cash flows.
- Review statement of cash flows.
Financial Statement Analysis and GAAP versus IFRS
- Explain horizontal and vertical analysis.
- Identify common size financial statements.
- Identify ratios used to make business decisions.
- Evaluate differences between U.S. GAAP and IFRS.
A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.
This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.
ACC/290 – Principles of Accounting I or equivalent
This graduate level course requires proof of completion of a Bachelor's degree. Be prepared to provide documentation during the checkout process.
During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative at 866-345-1800.
The University of Phoenix reserves the right to modify courses.
While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with an Enrollment Representative.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
If you have a question contact us at 866-345-1800.