Course

Course Summary
Credit Type:
Course
ACE ID:
ACPE-0113
Organization's ID:
BUS103
Organization:
Alternative Credit Project Ecosystem
Location:
Online
Length:
This is a self-paced online course that is completed over 93 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Introduction to Accounting
Description

Objective:

The course objective is to introduce financial accounting in order to prepare for more advanced business topics within the business major. The student will focus on analyzing, classifying and recording business transactions. The course prepares the student in obtaining or improving and strengthening accounting skills used in the business and accounting profession and understanding financial statements and the basic accounting process.

Learning Outcomes:

  • Demonstrate an understanding of the foundational principles and objectives of accounting
  • Apply the accounting equation to illustrate the impact of business transactions and to transform business transactions (data) into usable information
  • Explain why adjusting entries are necessary and distinguish between various types of adjusting entries
  • Discuss and demonstrate the use of the accounting worksheet as a means of preparing financial statements
  • Explain and execute the closing process for a specified accounting cycle
  • Define and apply the accounting elements associated with receivables and payables
  • Distinguish between tangible and intangible assets
  • Describe the difference between bonds and capital stock
  • Account for bonds and capital stock
  • Account for paid-in capital, cash dividends, stock dividends, stock splits, and retained earnings appropriations
  • Describe the accounting cycle and identify specific debits and credits, journals, t-accounts, a trial balance, and resulting financial statements
  • Identify the foundational accounting concepts, assumptions, and principles through the analysis of specific business situations
  • Locate public company financial statements, and read and interpret financial statements
  • Identify and analyze accounting transactions of a merchandising company
  • Define and solve for specific business events involving various inventory methods
  • Identify, record, and depreciate property, plant, and equipment
  • Describe the types of business transactions that are included in operating, investing, and financing activities on the statement of cash flows
  • Prepare a statement of cash flows

General Topics:

  • Accounting environment, decision-making, and theory
  • Recording business transactions
  • Adjustments for financial reporting
  • Completing the accounting cycle
  • Financial reporting and financial statement analysis
  • Accounting for inventory
  • Measuring and reporting
  • Receivables and payables identified
  • Accounting for property, plant, and equipment
  • Long-term liabilities and stockholders' equity
  • Statement of cash flows
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Laboratory
  • Lectures

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials