Module 2

Foundations of Financial Accounting

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2.0 A Brief Look Inside the Financial Foundations Module

An overview of what you will be learning in this important module.

2.1 Cash vs. Accrual Accounting

Learn by principles and example the difference and why you will be applying accrual accounting in this course.

2.2 Certifications, Organizations, Ethics, Laws and Internal Controls

The foundations of all the interacting pieces that add professionalism and trust to the accounting profession.

2.3 How the Process Works Repeated and Expanded

More Why. The Principles (big rules) and all of the supporting rules that you will be applying in this course in a concise format.

2.4 The Ten Basic Transactions Expanded: Reverses, Use, Combinations, and Triggers

Learn the intuitive approach to some otherwise confusing transactions and you will be really ahead of the game. When you reach them later in this course you will understand them instead of just memorizing them.

2.5 Demystifying Debits Credits and Account Balances

The simple Practical T format is recapped here before you apply it.

2.6 Using the Practical Approach in your Homework Software

Even though the Practical T is the better way, your homework is most likely formatted in the traditional, non-intuitive way. This is your simplified guide to ace your homework as you really learn it.

2.7 Transaction Practice - Self Graded

Apply what you have learned in a practice sheet. Smiley faces mean that it is correct. The keys are on the next two sheets.

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