About Unit 2

In this unit you will learn:

• • How to apply the elements of the accounting cycle to merchandising organizations.
  • How to create financial reports for merchandising organizations.
  • How to valuate and manage inventory.
  • The value of an accounting information system
  • The importance of internal control systems.
  • How to account and control cash.
  • The application of the Revenue recognition principle.

Instructions

• • Start by reading chapters 6 and 10 and taking notes.
  • Attend the lecture.
  • Take the quiz for the two chapters and complete the homework.
  • Read chapters 7 and 8 and take notes.
  • Attend the lecture.
  • Take the quiz for the two chapters and complete the homework.
  • Read chapter 9 and take notes.
  • Attend the lecture.
  • Take the quiz for the two chapters and complete the homework.
  • Attend the review and study for the 2nd exam