Chapter 1: Fundamentals of Accounting

Ⅰ.
The meaning of accounting
1.
The meaning of accounting
2.
Classification of corporate accounting by information user

Ⅱ.
Purpose of Financial Reporting
1.
Responsibility for preparing financial statements
2.
Users of financial information
3.
Purpose of Financial Reporting

Ⅲ.
International Accounting Standards
1.
The need for international accounting standards
2.
Characteristics of International Accounting Standards
3.
Application of International Accounting Standards in Korea

Ⅳ.
Qualitative characteristics of financial information
1.
The significance of qualitative characteristics
2.
Comparability as a secondary interaction characteristic
3.
Limiting factors

V.
financial statements
1.
Basic assumptions of financial statements
2.
Accrual accounting
3.
Financial Statement System and Preparation Principles
4.
Interrelationship of financial statements
5.
Characteristics and Limitations of Financial Statement Information

Ⅵ.
Corporate Accounting Standards
1.
structure
2.
General Corporate Accounting Standards

Ⅶ.
Basic Elements of Financial Statements
1.
Basic elements of a financial statement
2.
Basic Elements of an Income Statement
3.
Basic Elements of a Cash Flow Statement
4.
Basic elements of the statement of changes in equity

Ⅷ.
Recognition of the Fundamental Elements of Financial Statements
1.
Standard of Recognition
2.
Recognition of the Fundamental Elements of Financial Statements

Ⅸ.
Measurement of the Fundamental Elements of Financial Statements
1.
measurement
2.
Types of measurement properties
3.
Selection of measurement properties
4.
Measurement of present value

Ⅹ.
Interim Financial Statements

ⅩⅠ.
Special accounting treatment for small and medium-sized enterprises
1.
Valuation of derivatives
2.
Valuation of non-marketable equity securities
3.
Equity method valuation
4.
Present value assessment of long-term bonds and liabilities
5.
stock-based compensation transactions
6.
Revenue recognition from short-term service sales, etc.
7.
Determination of useful life and salvage value of tangible and intangible assets
8.
Revenue recognition in long-term installment sales
9.
Deferred income tax and income tax expense
Practice problems

Chapter 2 General Matters of the Statement of Financial Position

Ⅰ.
Significance of financial statements

Ⅱ.
Components of the financial statements
1.
asset
2.
fan
3.
capital

Ⅲ.
Basis for preparing financial statements
1.
Separator
2.
Total amount
3.
1 year standard
4.
Liquidity arrangement method
5.
Classification of surplus
6.
Prohibition on display of outstanding items and non-performing accounts

Ⅳ.
The Usefulness and Limitations of Financial Statements
1.
Usefulness
2.
margin

V.
Financial Statement Form

Ⅵ.
Book structure
Practice problems

Chapter 3 Current Assets

Ⅰ.
The significance of current assets

Ⅱ.
Cash and cash equivalents
1.
Concept and Scope
2.
Accounting treatment under general corporate accounting
3.
Things to note when settling accounts

Ⅲ.
short-term investment assets
1.
The significance of short-term investment assets
2.
Scope of short-term investment assets
3.
Accounting treatment under general corporate accounting
4.
Things to note when settling accounts

Ⅳ.
Securities
1.
Concept and Scope
2.
Things to note when settling accounts

V.
Accounts Receivable
1.
Accounts receivable
2.
bill receivable
3.
Valuation of Accounts Receivable - Establishment of Allowance for Bad Debt
4.
Things to note when settling accounts
5.
Classification of accounts receivable

Ⅵ.
Other current assets
1.
short-term loan
2.
Receivables
3.
Accrued income
4.
advance payment
5.
Prepaid expenses
Practice problems

Chapter 4 Inventory Assets

Ⅰ.
Concept and Scope
1.
goods
2.
product
3.
semi-finished products
4.
Work in progress
5.
raw materials
6.
Stored goods

Ⅱ.
Accounting treatment under general corporate accounting
1.
Determination of acquisition cost
2.
Determining the quantity of inventory assets
3.
Assumptions about the cost flow of inventory assets
4.
Valuation of inventory assets

Ⅲ.
Things to note when settling accounts
1.
Inventory physical inventory
2.
Calculating cost of sales
3.
Valuation of inventory assets
Practice problems

Chapter 5 Investment Assets

Ⅰ.
The significance of investment assets

Ⅱ.
Long-term financial products
1.
Concept and Scope
2.
Accounting treatment under general corporate accounting

Ⅲ.
Securities
1.
Concept and Scope
2.
Accounting for equity securities
3.
Accounting for debt securities

Ⅳ.
Investment real estate
Practice problems

Chapter 6 Tangible Assets

Ⅰ.
Concept and Scope
1.
The significance of tangible assets
2.
Account classification of tangible assets

Ⅱ.
Acquisition cost of tangible assets
1.
Determination of acquisition cost
2.
Capital expenditures and revenue expenditures
3.
Capitalization of borrowing costs

Ⅲ.
Depreciation and impairment of assets
1.
Depreciation
2.
Impairment of tangible assets
3.
Revaluation of tangible assets
4.
Removal of tangible assets
Practice problems

Chapter 7 Intangible Assets

Ⅰ.
Concept and Scope
1.
Definition and requirements of intangible assets
2.
Characteristics of intangible assets
3.
Types of intangible assets

Ⅱ.
Accounting for intangible assets
1.
Acquisition cost of intangible assets
2.
Expenditures after acquisition or completion
3.
Amortization of intangible assets
4.
Impairment of intangible assets
Practice problems

Chapter 8 Other Non-Current Assets

Ⅰ.
Concept and Types
1.
Basic Concepts of Other Non-Current Assets
2.
Types of other non-current assets

Ⅱ.
Fair value assessment of long-term bonds and liabilities
1.
Applicable target
2.
Calculating the appropriate interest rate
3.
Amortization or recapture of present value discount
Practice problems

Chapter 9 Current Liabilities

Ⅰ.
Accounts Payable

Ⅱ.
short-term borrowings
1.
Accounting treatment under general corporate accounting standards

Ⅲ.
Accrued Accounts Payable and Accrued Expenses

Ⅳ.
Advance payment and deposit

V.
Other current liabilities accounts
1.
Current income tax liabilities
2.
Current portion of long-term debt
3.
Player earnings
Practice problems

Chapter 10 Non-current Liabilities

Ⅰ.
The significance of non-current liabilities
1.
private loans
2.
long-term borrowings
3.
Long-term trade payables

Ⅱ.
private loans
1.
The meaning of private loans
2.
Pricing of private bonds
3.
Accounting treatment when issuing bonds
4.
Accounting treatment when interest is paid
5.
Discrepancy between interest payment period and accounting period
6.
Costs incurred when issuing bonds (bond issuance costs)
7.
Accounting treatment when repaying private debt
8.
treasury bonds

Ⅲ.
long-term borrowings
1.
Concept and accounting treatment in general corporate accounting
2.
Long-term foreign currency borrowings

Ⅳ.
Long-term trade payables
Practice problems

Chapter 11 Provisions, Contingent Liabilities, and Contingent Assets

Ⅰ.
concept
1.
Provisions
2.
contingent liabilities
3.
contingent assets

Ⅱ.
Accounting treatment under general corporate accounting
1.
recognize
2.
measurement
3.
Special circumstances
4.
Types of reserve liabilities
5.
Other provisions
Practice problems

Chapter 12 Deferred Taxes

Ⅰ.
The significance and necessity of corporate tax accounting

Ⅱ.
Corporate tax accounting
1.
Definition of Terms
2.
Deferred tax assets and liabilities
3.
Measurement of deferred tax assets (liabilities)
4.
Calculation procedure for corporate tax expenses
5.
Classification and disclosure of deferred tax assets (liabilities)
Practice problems

Chapter 13 Capital

Ⅰ.
The meaning of capital

Ⅱ.
Classification of capital

Ⅲ.
capital
1.
The meaning of capital
2.
Types of stocks
3.
Issuance of stocks
4.
Paid capital increase and free capital increase

Ⅳ.
capital surplus
1.
The significance of capital surplus
2.
Classification of capital surplus

V.
capital adjustment
1.
Stock discount issuance proceeds
2.
Unpaid dividends
3.
Treasury stock
4.
New stock subscription deposit

Ⅵ.
Accumulated other comprehensive income
1.
Valuation gains on marketable securities
2.
Tangible assets revaluation surplus
3.
Equity method capital changes

Ⅶ.
Retained earnings
1.
The meaning of retained earnings
2.
Classification of retained earnings
3.
Undistributed retained earnings
4.
Voluntary savings deposit amount
5.
Retained Earnings Disposition Statement
6.
Undisposed retained earnings carried forward to the next year

Ⅷ.
Statement of changes in equity
1.
Significance of the statement of changes in equity
2.
Basic structure of the statement of changes in equity
3.
Format of statement of changes in equity
Practice problems

Chapter 14: Basic Theory of Income Statement

Ⅰ.
The meaning of the income statement

Ⅱ.
Standards for preparing income statements
1.
Accrual basis
2.
Realism
3.
Principle of revenue-cost matching
4.
Total amount
5.
Principle of separate calculation

Ⅲ.
Net Income Report and Income Statement Format
1.
Net income report
2.
Income Statement Format
Practice problems

Chapter 15 Revenue Recognition

Ⅰ.
General Revenue Recognition
1.
Definition of profit
2.
Revenue recognition criteria
3.
Measurement of Profit
4.
Identification of transactions

Ⅱ.
Revenue Recognition under General Accounting Standards
1.
Revenue recognition by transaction type
2.
Gross or net revenue recognition

Ⅲ.
Specific application examples of revenue recognition
1.
Specific application examples of revenue recognition methods
Practice problems

Chapter 16 Account Titles in the Income Statement

Ⅰ.
take

Ⅱ.
Cost of goods sold
1.
Meaning
2.
Cost of sales for merchandise sales business
3.
Cost of sales in manufacturing

Ⅲ.
Selling and administrative expenses
1.
concept
2.
salary
3.
retirement benefits
4.
Welfare expenses
5.
hire
6.
entertainment expenses
7.
Depreciation expense
8.
Amortization of intangible assets
9.
Taxes and duties
10.
Advertising and promotional expenses
11.
Research and development expenses
12.
Bad debt expense
13.
Other operating expenses

Ⅳ.
Non-operating income
1.
interest income
2.
Dividend income
3.
Gains on disposal of marketable securities
4.
Short-term trading securities valuation gains
5.
foreign exchange profits
6.
Foreign currency translation gains
7.
Equity method income
8.
Gains on disposal of investment assets
9.
Gain on disposal of tangible assets
10.
Debt repayment profit
11.
Electrical error correction profit
12.
Gains on asset acquisition and debt forgiveness
13.
miscellaneous profits

V.
Non-operating expenses
1.
interest expense
2.
Inventory impairment loss
3.
donations
4.
Electrical error correction loss
5.
etc

Ⅵ.
Corporate tax expense

Ⅶ.
earnings per share
1.
concept
2.
Method of calculating earnings per share
3.
Disclosure of earnings per share
Practice problems

Chapter 17 Cash Flow Statement

Ⅰ.
The significance of the cash flow statement

Ⅱ.
Usefulness and Limitations of the Statement of Cash Flows
1.
Usefulness of the Cash Flow Statement
2.
Limitations of the Cash Flow Statement

Ⅲ.
Format and Structure of the Cash Flow Statement
1.
Format of the statement of cash flows

Ⅳ.
Activities in the statement of cash flows
1.
Cash flow from operating activities
2.
Cash flow from investing activities
3.
Cash flow from financing activities

V.
Transactions without cash inflows or outflows - Effect of footnote disclosure
1.
Acquisition of tangible assets through contribution in kind
2.
Deferred purchase of tangible assets
3.
Free capital increase
4.
stock dividends
5.
Conversion of convertible bonds
Practice problems

Practice Problem Answers and Explanations

Practical Edition

Key Summary Notes

1 mock exam
2 mock exams
Mock exam answers and explanations

1.
Reflection of the new type of National Certified Public Accountant Level 1 Qualification Exam

- A new type of question for the Level 1 Certified Public Accountant exam that requires comprehensive thinking skills on the latest financial issues.
Significantly updated practice questions and mock exam items to help you prepare for the exam.

2.
A textbook that covers everything from theoretical understanding to practical training in one volume.

- Systematic theoretical explanations centered on understanding and various practical practice problems provide learners with efficient learning.
A textbook that serves as an excellent work guide not only for exam preparation but also for practitioners.