D774 – Introduction to Business Accounting

What You Need to Be Able to Do

By the time you sit for the OA, you should be able to:

• Record transactions using debits and credits
• Complete the full accounting cycle and produce financial statements
• Explain and apply accrual accounting, matching, and revenue recognition
• Calculate depreciation and inventory values using common methods
• Identify appropriate internal controls and basic fraud risks

1. Review domains & tasks
2. Cycle through flashcards (Study mode)
3. Take practice quiz (Test mode)
4. Mark tasks done → hit WGU pre-assessment → OA

D774 Task Checklist

Check things off as you master them. This saves in your browser.

OA Domains at a Glance

Memorize these domain names & their purpose. WGU will reference them in study materials and the pre-assessment.

• Domain 1 – Accounting Overview
  Purpose of accounting, users, financial vs managerial, GAAP, the accounting equation.
• Domain 2 – The Accounting Cycle
  Transactions → journal → ledger → trial balance → adjusting entries → statements → closing entries.
• Domain 3 – Financial Statements
  Income Statement, Balance Sheet, Statement of Owner’s Equity, Statement of Cash Flows.
• Domain 4 – Measurement Concepts
  Accrual vs cash, matching, revenue recognition, inventory methods, depreciation.
• Domain 5 – Internal Controls & Ethics
  Internal control objectives, examples, fraud triangle, safeguarding assets.

7-Day D774 Sprint Plan

You can stretch this to 10–14 days if life gets busy.

• Day 1: Domain 1 overview + equations, 20–30 mins flashcards
• Day 2: Domain 2 – journal entries + adjusting entries
• Day 3: Domain 3 – financial statements (build one from a simple trial balance)
• Day 4: Domain 4 – depreciation and inventory practice
• Day 5: Domain 5 – internal controls; do 15–20 quiz questions
• Day 6: WGU pre-assessment + fill gaps using this dashboard
• Day 7: Light review + take OA