Undergraduate Accounting
Financial Accounting Cycle with Supplements
A detailed, process-oriented course covering the full accounting cycle — from journalizing transactions through ledger entries, adjusting and closing entries, and statement preparation. Proven in Fortune 100 training programs and now available for academic use.
Course design
The full accounting cycle, step by step
This course teaches the accounting cycle with exceptional depth and clarity — beginning with the fundamental accounting equation and building through T-accounts, debits and credits, journalizing, posting, adjusting entries, closing entries, and full statement preparation. Originally developed for week-long Fortune 100 training seminars, it is equally well-suited for academic programs where students need a thorough, hands-on command of the accounting process.
This course is designed for those who require a thorough understanding of the details of the accounting process — not just a conceptual overview. It is appropriate for accountants, trainers, consultants, educators, and students who need a deep, working command of the full cycle.
Process-oriented
Every step of the accounting cycle is covered in sequence — from the first journal entry to closing entries and final statement preparation.
Fortune 100 tested
Used successfully for years by Fortune 100 training officers in week-long seminars — a proven curriculum now available for academic programs.
Broad audience
Suitable for accountants, trainers, consultants, educators, and academic students — anyone who needs a working command of the accounting cycle.
Novel teaching approach
Introduces T-accounts, debits, and credits by developing the balance sheet first — building intuition before mechanics.
Course content
7 chapters covering the complete accounting cycle
The course builds systematically from the accounting equation through the full cycle, ending with accounting for merchandising businesses and special journals. Each chapter description below reflects the specific content and teaching approach used.
All chapters
1
Introduction to accounting and the accounting model
Defines accounting, introduces the fundamental equation (Assets = Liabilities + Owner’s Equity), and presents accounts for proprietorships, partnerships, and corporations. Uses a novel approach — developing the balance sheet as a means of introducing T-accounts, debits, and credits.
2
Using the accounting model to determine net income
Covers the income statement and owner’s equity along with the basics of establishing an accounting system. Appendix covers the standard-setting process in the American accounting profession.
3
Using the accounting model to complete the accounting cycle
Solidifies Chapters 1 and 2 with a series of transactions to journalize and post to the general ledger and subsidiary ledgers. Also introduces closing entries.
4
Adjusting the financial statements and completing the accounting cycle
Defines accrual accounting and integrates adjusting entries fully into the accounting process.
5
The work sheet and the end of period procedures
Covers the accounting work sheet and all end-of-period closing procedures.
6
Accounts for merchandising businesses
Describes accounting terminology and procedures specific to merchandising businesses.
7
Accounting systems and special journals
Introduces accounting systems and the use of special journals for efficient transaction recording.