By Lynette Teal
Learners examine the main characteristics of the four financial statements required in accounting: the income statement, the owner's equity statement, the balance sheet, and the statement of cash flow.
The Debits and Credits of Accounting
Learners read an explanation of the debits and credits of accounting as they relate to T accounts and the accounting equation. Illustrated examples are provided.
Financial Statement Analysis
Learners read the definitions of working capital, current ratio, quick ratio, return on equity, accounts receivable turnover, and inventory turnover.
Accounts and Financial Statements
By Julie Dilling
Learners read about the purposes of balance sheets and income statements and then place accounts into these two financial statement categories in a drag-and-drop exercise.
The Accounting Profession
Learners read about the various organizations that assist accountants and set standards and procedures.
Cash Basis Accounting
In this interactive object, learners read a brief summary of the principles of cash basis accounting and then check their knowledge of transactions in a drag-and-drop exercise.
Accrual Basis Accounting
Learners reinforce the matching concept in accrual basis accounting through a drag-and-drop exercise.
The Accounting Equation and Account Classification
Learners examine the accounting equation and classify accounts into the appropriate categories in drag-and-drop exercises.
Financial Statements: What Are They? What Do They Mean?
By Beth Baar
Learners read about the most common forms of financial statements including balance sheets, cash flow statements, and profit and loss statements. A brief quiz completes the activity.
A Summary of the Closing Process
In this accounting learning object, students follow the steps involved in the closing process. Temporary accounts contain ending balances for a specified period and must be closed.
The Accounting Cycle
Learners examine the 10 steps of the accounting cycle. The cycle begins with the analysis of source documents and ends with the post-closing trial balance and interpreting the financial information.
Accounting Careers and Titles: Areas of Specialization
Learners read about the different kinds of positions available in the accounting field at private corporations, government agencies, and not-for-profit organizations.
The Accounting Definition
Learners examine the accounting process of recording, classifying, summarizing, interpreting, and communicating.
The Accounting Equation
Learners examine the accounting equation and view examples of how account items and figures are included in each part of the equation.
Users of Accounting Information
Learners read about the internal and external users of financial information and the kinds of information most often requested.
Monthly Expenses Worksheet
By Kristin Biekkola
Students are provided with a Monthly Expenses Worksheet to help them understand the basics of budgeting, income, and spending.
Reconciling a Business Checking Account Statement
By Virginia Riggs
Learners examine a bank statement and a reconciliation form and study how to balance a checking account.
THE ACCOUNTING EQUATION: All You Need to Know in 4 Minutes
By Dan O'Brien
With this highly entertaining four-minute animation, learners can visualize the basics of accounting.