Course Section 1 Content Section 1 Content Left Section 1 Content Right Credit Type: Exam ACE ID: CLEP-0039 Version: 1 Organization: College Board's College-Level Examination Program (CLEP) ACE Credit Recommendation Period: 1/1/2023 - 12/31/2028 1/1/2007 - 12/31/2022 Credit Recommendation & Competencies Section 2 Content Section 2 Content Left Section 2 Content Right Level Credits (SH) Subject Lower-Division Baccalaureate 3 Financial Accounting or Principles Of Accounting Credit is recommended for candidates scoring 50 and above. Description Section 3 Content Section 3 Content Left Section 3 Content Right Objective: The Financial Accounting examination covers skills and concepts that are generally taught in a first-semester undergraduate financial accounting course. Colleges may award credit for a one-semester course in financial accounting. A four-function calculator is available as part of the testing software, though using it is not required. Skills Measured: The skills measured include 20 - 30 percent: general topics; 20 - 30 percent: the income statement; 30 - 40 percent: the balance sheet; 5 - 10 percent: statement of cash flows; and less than 5 percent: miscellaneous. Instruction & Assessment Section 4 Content Section 4 Content Left Section 4 Content Right Supplemental Materials Section 5 Content Section 5 Content Left Section 5 Content Right Equivalencies Section 6 Content Section 6 Content Left Section 6 Content Right Button Content Rail Content 1 Other offerings from College Board's College-Level Examination Program (CLEP) View All Courses College Credit Opportunities Page Content