Course

Questions on the Principlesof Accounting examination requirecandidates to demonstrate one or more ofthe following abilities.Familiarity with accounting conceptsand terminologyPreparation, use, and analysis ofaccount-ing data and financial reportsissued for both internal and externalpurposesApplication of accounting techniquesto simple problem situations involvingcomputationsUnderstanding the rationale for generallyaccepted accounting principles andproceduresThe subject matter of the Principles ofAccounting examination is drawn fromthe following topics:60-70% Financial accounting (concerned withproviding financial statements and reports ofinterest to company managers as well asbankers, investors, and other outsiders whomust make financial assessment of a company)-Generally accepted accountingprinciples; Rules of double-entryaccounting; The accounting cycle; Presentationof and relationships betweengeneral-purpose financial statements; Valuationof accounts and notes receivable;Valuation of inventories; Initial costs ofplant assets; Depreciation; Liabilities;Investments; Capital; Cash and stock dividends;Treasury stock; Purchase and saleof merchandise; Revenue and costapportionments; Cash control; Divisionof profits and losses in partnershipaccounting; Cash flow analysis30-40% Managerial accounting (concernedwith the use of accounting data for internalpurposes to help management in planning andcontrolling functions in a company)-Analysisof departmental operations; Budgeting;Cost-volume profit (break-even) analysis;Direct costing and absorption costing;Financial statement analysis; Performanceevaluation; Process and job-order systems;Standard costs and variances; Themanufacturing environment; Use of differential(relevant) cost.