Financial Accounting 102

Financial Accounting 102

Financial Accounting 102 is the natural sequel to Financial Accounting 101 — the course where clean theory meets the messy real world.

In 101, you learned the language of accounting: debits and credits, journals, ledgers, the trial balance, and how to build simple financial statements from clean data. In 102, you learn that data is rarely clean.

Inventory moves and loses value. Equipment wears out. Customers don’t pay. The bank statement doesn’t agree with your cash book. Errors slip into the records. Adjustments are always waiting at year-end.

This course takes you step by step through the real work of a financial accountant — from inventory and cost of sales, through property, plant and equipment, accruals and prepayments, receivables and bad debts, bank reconciliations, and error correction, all the way to the adjusted trial balance and the preparation of full financial statements.

It then brings everything together in the Integrated Accounting Cycle and finishes with a capstone practical challenge based on a complete fictional business — where you work from source documents all the way to final financial statements.

By the end, 101 and 102 will feel like one continuous journey — not two unrelated courses.

What You Will Study

• Inventory and cost of sales
• Property, plant and equipment
• Accruals and prepayments
• Receivables and bad debts
• Bank reconciliations
• Error correction
• The adjusted trial balance
• Preparation of full financial statements
• The Integrated Accounting Cycle
• Capstone practical challenge (source documents to final statements)

Prerequisite

Financial Accounting 101 or equivalent knowledge of double-entry bookkeeping and basic financial statements.