1 Understand accounting equation.

2 Which accounts normally have debt balances and which accounts normally have credit balances.

3 Understand the organization and use of a chart of accounts.

4 How to write a general journal and how to post entries to the general ledger.

5 What is the organization and layout of a general ledger and how you determine if it is in balance.

6 How can you record accrued liabilities, deferred income, deferred expenses, and sales on credit.

7 How can you record depreciation expense.

8 How can you record the sale or retirement of a fixed asset.

9 What are intangible assets and how to amortize the cost to expense.

10 How can you record inventory purchase and the cost of goods sold on both the perpetual and periodic inventory methods.

11 How can you record capital contributions including those in excess of the par value.

12 How to record dividends payable.

13 How to differentiate between temporary and permanent accounts.

14 What is the purpose and use of subsidiaries. How can one to post to subsidiary ledgers. How can one balance subsidiary ledger to the general ledger control account.

15 What is the purpose and use of a trial balance.

16 How to prepare financial statements from a trial balance.

17 What is the purpose for and be able to record closing entries

18 How to prepare a post-closing trial balance.