Chapter 1: Review of Intro Financial Accounting
- Complete Review Lab 1.1 to review adjusting entries.
- Complete Review Lab 1.2 to review merchandising transactions.
- Complete Review Lab 1.3 to review inventory costing methods.
- Complete Review Lab 1.4 to review bank reconciliations.
- Complete Review Lab 1.5 to review receivables transactions.
- Complete Review Lab 1.6 to review transactions related to long-lived assets.
- Complete Review Lab 1.7 to review current and long-term liabilities.
- Complete Review Lab 1.8 to review the statement of cash flows.
To be successful in Intermediate Financial Accounting, it is imperative for a student to have a strong foundational knowledge of all Introductory Financial Accounting concepts. The purpose of Lesson 1 is to help a student identify any weaknesses in their Intro Accounting knowledge. Lesson 1 consists of a series of labs intended to help a student identify any knowledge gaps. If a weakness comes to light, the student is encouraged to go back to that concept in Intro Accounting and review in detail. It is the student's responsibility to ensure they come into Intermediate Financial Accounting with the appropriate pre-requisite knowledge.
Each section will provide a link to the open Introduction to Financial Accounting textbook by Dauderis and Annand. You may also access the textbook by visiting http://lifa1.lyryx.com/open_introfa/?LESSONS . You can either view the lessons online, or you will find a Download link on the left side that will let you download a PDF or order a printed copy of that textbook. If you used this textbook in your Introductory Financial Accounting course then you may already have a copy of the textbook.