Accounting

  • This Subject Area Index lists all CALI lessons covering Accounting.
Lesson Viewed

Introduction to Accounting

This lesson provides an introduction to accounting, which should be valuable for students taking business associations, corporations, and other transactional courses. It covers the basic understanding of the balance sheet, income statement, and depreciation with an eye to using accounting information for valuation.


Learning Outcomes


On completion of the lesson, the student will be able to:


Lesson Viewed

An Introduction to Depreciation

This lesson is an introduction to the basic concept of depreciation. It discusses depreciation as an expense, how to determine the cost, or basis, of an asset, and the balance sheet treatment of depreciable assets. It does not discuss the different methods of depreciation. That is dealt with in another lesson, Methods of Depreciation.

Lesson Viewed

Inventory and the Cost of Goods Sold

This lesson discusses the accounting treatment of inventory: how to value inventory on the balance sheet, inventory as an expense (the cost of goods sold), and different methods of determining the cost of goods sold. It does not cover the lower-of-cost-or-market rule, which is dealt with in a separate lesson.

Learning Outcomes

On completion of the lesson, the student will be able to:

Lesson Viewed

Lawyers' Responses to Audit Inquiries

This lesson discusses how lawyers should respond to audit inquiry letters, which ask lawyers to provide information concerning legal matters to a client's auditors. The lesson focuses on the American Bar Association's Statement of Policy Regarding Lawyer's Responses to Auditors' Requests for Information. No knowledge of accounting is necessary to complete this lesson.

Lesson Viewed

Methods of Depreciation

This lesson discusses the different methods of calculating depreciation expense. Students who take this lesson should already be familiar with the basic concept of depreciation. If you are not, you should first take the companion lesson, An Introduction to Depreciation.