D196 – Principles of Financial and Managerial Accounting:
Study Guide
Course Overview
This course will provide you with a foundational understanding of how accounting impacts you
as a business professional. From budgets and performance reports to cost analyses and
approaches to decision making, Accounting impacts them all. Principles of Accounting will
introduce you to how things are done in the business environment today. As the “language of
business,” this course will give you an insider’s view of both financial and managerial
accounting, both of which will be essential to your success in whatever path you take in the
global economy of today and the future.
UNIT 2: (Competency Weight 15%)
Accounting Information (Module 1) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 1 quiz.
You should be able to answer the following questions after studying this module:
What is the role and purpose of Accounting?
Who uses accounting information and why?
What are the important influences on Accounting?
What is the role of ethics in Accounting?
The Accounting Cycle (Module 2) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 2 quiz.
You should be able to answer the following questions after studying this module:
What is the Accounting Cycle and how does it work?
o Can you explain the Accounting Cycle?
What is the Accounting Equation?
o Can you explain the ‘basic’ accounting equation?
o Can you explain the ‘expanded’ accounting equation?
Upon completion of Unit 2 (Modules 1 and 2) – Complete the following activities:
Review the Unit 2 Summary.
Complete the Unit 2 Test.
UNIT 3: (Competency Weight 20%)
Financial Statements Overview (Module 3) – Complete the following activities:
, Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 3 quiz.
You should be able to answer the following questions after studying this module:
What are the four financial statements covered in this module course?
Can you define and explain the purpose of the Balance Sheet and the components that
it contains?
Can you define and explain the purpose of the Income Statement and the components
that it contains?
Can you define and explain the purpose of the Statement of Retained Earnings and the
components that it contains?
Can you define and explain the purpose of the Statement of Cash Flows and the
components that it contains?
Can you explain the importance Notes to the Financial Statements and what is included
in these notes?
Analyzing Financial Statements (Module 4) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 4 quiz.
You should be able to answer the following questions after reviewing this module:
What are common-size financial statements and how are they used?
What is horizontal analysis and what information does it provide?
What is vertical analysis and what information does it provide?
Can you use Excel to construct these analyses? Note that you have practice within this
course.
Upon completion of Unit 3 (Modules 3 and 4) – Complete the following activities:
Review the Unit 3 Summary.
Complete the Unit 3 Test.
UNIT 4: (Competency Weight 10%)
Budgeting Cash Flows (Module 5) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 5 quiz.
You should be able to answer the following questions after studying this module:
Can you describe the cash budgeting process and why it is important to any
organization?
Can you identify and explain cash receipts (cash inflows)?
Study Guide
Course Overview
This course will provide you with a foundational understanding of how accounting impacts you
as a business professional. From budgets and performance reports to cost analyses and
approaches to decision making, Accounting impacts them all. Principles of Accounting will
introduce you to how things are done in the business environment today. As the “language of
business,” this course will give you an insider’s view of both financial and managerial
accounting, both of which will be essential to your success in whatever path you take in the
global economy of today and the future.
UNIT 2: (Competency Weight 15%)
Accounting Information (Module 1) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 1 quiz.
You should be able to answer the following questions after studying this module:
What is the role and purpose of Accounting?
Who uses accounting information and why?
What are the important influences on Accounting?
What is the role of ethics in Accounting?
The Accounting Cycle (Module 2) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 2 quiz.
You should be able to answer the following questions after studying this module:
What is the Accounting Cycle and how does it work?
o Can you explain the Accounting Cycle?
What is the Accounting Equation?
o Can you explain the ‘basic’ accounting equation?
o Can you explain the ‘expanded’ accounting equation?
Upon completion of Unit 2 (Modules 1 and 2) – Complete the following activities:
Review the Unit 2 Summary.
Complete the Unit 2 Test.
UNIT 3: (Competency Weight 20%)
Financial Statements Overview (Module 3) – Complete the following activities:
, Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 3 quiz.
You should be able to answer the following questions after studying this module:
What are the four financial statements covered in this module course?
Can you define and explain the purpose of the Balance Sheet and the components that
it contains?
Can you define and explain the purpose of the Income Statement and the components
that it contains?
Can you define and explain the purpose of the Statement of Retained Earnings and the
components that it contains?
Can you define and explain the purpose of the Statement of Cash Flows and the
components that it contains?
Can you explain the importance Notes to the Financial Statements and what is included
in these notes?
Analyzing Financial Statements (Module 4) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 4 quiz.
You should be able to answer the following questions after reviewing this module:
What are common-size financial statements and how are they used?
What is horizontal analysis and what information does it provide?
What is vertical analysis and what information does it provide?
Can you use Excel to construct these analyses? Note that you have practice within this
course.
Upon completion of Unit 3 (Modules 3 and 4) – Complete the following activities:
Review the Unit 3 Summary.
Complete the Unit 3 Test.
UNIT 4: (Competency Weight 10%)
Budgeting Cash Flows (Module 5) – Complete the following activities:
Read/Listen to all the module content. Watch all the embedded videos.
Complete all the Knowledge Checks.
Complete the Module 5 quiz.
You should be able to answer the following questions after studying this module:
Can you describe the cash budgeting process and why it is important to any
organization?
Can you identify and explain cash receipts (cash inflows)?
