Financial Accounting: Resources and Taxation

This module explores inventory valuation methods and their relationship to gross profit. Students learn about the four principal inventory valuation methods, comparing their advantages and disadvantages, and understanding their impact on financial reporting.

This module covers the measurement and accounting of long-lived assets, including the distinction between expenses and capitalized items. Students learn various depreciation methods, their computation, and their effects on cash flow, as well as how to account for asset disposal and impairment.

This module examines the relationship between taxation and depreciation, exploring how different depreciation methods affect tax calculations and reporting. Students learn about tax implications of various depreciation strategies and their impact on financial statements.

This module focuses on the concept of deferred taxes, including the distinction between deferred tax assets and liabilities. Students learn how to compute deferred tax liability values and understand when such liabilities are considered equity items.