Applied Bookkeeping: Transactions, Taxes, and Benefits

The course examines key topics in financial accounting, including the recognition and measurement of assets, liabilities, and shareholders’ equity. Additional areas of focus include revenue and expense recognition, cash flow analysis, employee benefits, income taxes, and payroll taxation.

Format: This course is offered in an online asynchronous format. There are no set meeting times, however, students follow a weekly schedule and there will be deadlines to meet in terms of course requirements. This course cannot be completed at an accelerated rate. UC San Diego Extended Studies operates in Pacific Standard Time and therefore any deadline is considered 11:59 p.m. Pacific Standard Time.
 

By the end of the course, students will:
· Prepare, interpret, and analyze the Income Statement, Balance Sheet, and Statement of Cash Flows to support effective business decision-making.
· Differentiate between capital and revenue expenditures.
· Explain the nature of current assets and address related issues, including the measurement and reporting of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods sold.
· Describe the valuation and reporting of current liabilities, estimated liabilities, and other contingencies.
· Identify and analyze issues related to long-term liabilities, including the issuance, valuation, and retirement of debt.
· Identify and analyze issues related to stockholders’ equity, including the issuance and repurchase of capital stock and the payment of dividends.
· Calculate and record payroll taxes accurately.