ACCT 2001 : Acct 2001 Memo About Final Fall 2014 4
Document Summary
Reminder: make sure you bring your own calculator to the lab for the final exam! All old material will be tested by multiple choice. New material will be tested by multiple choice and problems (types similar to previous exams). No ratios will be covered on the final. There is a 2 hour time limit on the final exam. Topics that will be covered on the final exam from old and new material are: Accounting terminology, forms of businesses, business activities, financial. Statements (income statement, stmt of retained earnings, balance sheet) Transaction analysis, debit and credit procedures, basic journal entries. Accrual accounting (revenue and expense recognition), adjusting entries, closing process. Inventory cost flow methods (lifo, fifo, average cost) Internal controls purpose and principles, bank reconciliation and entries.
