General Accounting Course

TEACHING UNIT 1. BASIC ACCOUNTING CONCEPTS Introduction to Accounting Accounting Concepts and Company Equity TEACHING UNIT 2. RECORDING ACCOUNTING TRANSACTIONS Introduction to Recording Accounting Transactions Elements of a company’s assets: property, rights, and obligations Accounts and Groups in the General Chart of Accounts (GCA) Economic and financial structure of the balance sheet: Assets, Liabilities, and Net Worth Recording transactions. Debit and credit theory TEACHING UNIT 3. THE ACCOUNTING CYCLE Preliminary Remarks Changes in Net Worth: Accounting Treatment of Revenues and Expenses The Accounting Cycle and Its Phases: Opening the Books, Recording Transactions, and Calculating Net Income TEACHING UNIT 4. REVENUE AND EXPENSE ACCOUNTING Introduction to revenue and expense accounting Purchases and sales under the speculative system (Subgroups 60, 61, 70, and 71) External Services (Subgroup 62) Taxes (Subgroup 63) Personnel Expenses (Subgroup 64) Financial Expenses (Subgroup 66) Extraordinary Expenses (Subgroup 67) Other Operating Revenue (Subgroup 75) Financial Revenue (Subgroup 76) Extraordinary Revenue (Subgroup 77) TEACHING UNIT 5. ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE Introduction to Accounting for Trade Transactions Definition and Content of Group 4 of the General Accounting Plan (PGC) Accounting for Delivery Slips Accounting for Advances Accounting for Notes Receivable Discounting or Negotiating Notes Collection Management Unpaid Notes Endorsement of Notes Video Tutorial: Accounting for Notes Receivable Worked Example: Posting Entries in General Ledger I TEACHING UNIT 6. ACCOUNTING FOR TANGIBLE FIXED ASSETS Introduction to Accounting for Tangible Fixed Assets Classification of Tangible Fixed Assets. Chart of Accounts Initial Valuation of Tangible Fixed Assets Increases in Performance, Useful Life, or Productive Capacity Subsequent Valuation: Depreciation Retirements and Disposals Worked Example. Recording Entries in the General Journal TEACHING UNIT 7. THE ACCRUAL BASIS The accrual principle Accrual adjustments Allocation of revenue and expenses TEACHING UNIT 8. LOAN ACCOUNTING Concept and types of liabilities to financial institutions Liabilities to financial institutions Credit Facility TEACHING UNIT 9. ACCOUNTING FOR GRANTS Introduction and types of grants Preliminary Summary for Accounting for Non-Refundable Grants Regulations Governing Grants, Donations, and Bequests from Third Parties Accounting Summary of Grants for SMEs TEACHING UNIT 10. FINANCE AND OPERATING LEASES The Lease Finance Lease Operating Lease TEACHING UNIT 11. CORPORATE INCOME TAX. CURRENT TAX Differences Between Accounting Income and Taxable Income Current Tax: Current Tax Assets and Liabilities Deferred Tax: Deferred Tax Assets and Liabilities Offset of Tax Loss Carryforwards Changes in the Tax Rate Information Disclosed in the Annual Financial Statements