1. Mid-Term Review

2. CHAPTERS 1-2 • Accounting assumptions • FASB • GAAP • CPA

3. THE BASICS • The accounting equation • Account classification • Increases decreases • Assets • Liabilities • Owner’s Equity

4. THE BASICS • Fiscal period • The accounting cycle

5. ACCOUNTS • Temporary accounts • Permanent accounts • Revenue • Expense • Withdrawals • Chart of accounts, numbering

6. DEBITS VS. CREDITS • Definitions • Normal balances • Increases/Decreases

7. POSTING • Definition • Five steps • Calculating balances

8. Transactions • Four steps • Journalizing • Posting • Trial Balance