Course

Course Summary

Credit Type:

Course

ACE ID:

CFTA-0022

Organization's ID:

ACC 201

Organization:

Center for Financial Training

Location:

Online

Length:

11 weeks (49.75 hours)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	financial accounting

Description

Objective:

Cover accounting terminology; the recording and classifying of financial transactions, including analyzing, journalizing, and posting; the preparation of the trial balance, work sheet and financial statements; a familiarization with handling of adjustments, bad debts, inventory and depreciation; and matters concerning sole proprietorship and partnership.

Learning Outcomes:

discuss accounting as the language of business and the role of accounting information in making economic decisions
identify and discuss several professional organizations that play important roles in preparing and communicating accounting information
demonstrate how certain business transactions affect the elements of the accounting equation: asset = liabilities + owners' equity; explain how the statement of financial position (balance sheet), income statement, and statement of cash flows relate to each other
identify the steps in the accounting cycle and discuss the role of accounting records in an organization
describe and prepare the four basic types of adjusting entries
use the financial statement information to evaluate profitability and liquidity
describe the objectives of cash management and internal controls over cash
explain the need for taking physical inventory
compute depreciation by the straight-line method and declining-balance method
define liabilities and distinguish between current and long-term liabilities
explain the advantages and disadvantages of organizing a business as a corporation
account for cash dividends and stock dividends and explain the effects of these transactions on a company's financial statements
explain the purposes and uses of a statement of cash flows