Course

Course Summary
Credit Type:
Course
ACE ID:
ABAN-0167
Location:
Classroom-based
Length:
16 weeks (45 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Introduction to Accounting, Introduction to Financial Accounting, or Principles Of Accounting
Description

Objective:

This course objective is to provide a basic understanding of financial accounting, including introductory accounting theory, concepts, principles, and procedures; provide students with a strong basic knowledge of accounting terms, concepts, procedures, and interpretation of financial statements; be exposed to current events in accounting and application of business ethics; and interpret current events in terms of accounting measurements and communication.

Learning Outcomes:

  • Understand the basic accounting cycle and define the basic elements used such as asset, liability, owner's equity, revenue, and expense accounts
  • List the steps in the accounting cycle
  • Prepare a post-closing trial balance and interim statements
  • Utilizing a prepared classified income statement and balance sheet, compute working capital and current ratio and journal closing entry problems for a business.
  • Understand and perform functions relative to bank accounts and cash funds
  • Understand the implications of dealing with employee earnings and deductions, and with employee taxes, payments, and reports

General Topics:

  • The accounting cycle for a service business
  • Analyzing business transactions
  • Accounting for cash and payroll
  • The accounting cycle for a merchandising business
  • Using special ledgers
Instruction & Assessment

Instructional Strategies:

  • Computer Based Training
  • Discussion
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials