Course

Course Summary
Credit Type:
Course
ACE ID:
CFTA-0005
Organization's ID:
A197
Location:
Online
Length:
11 weeks (50.25 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 introduction to accounting
Description

Objective:

The course objective is to teach students the information needed to create financial statements, including trial balances, t-accounts, balance sheets, and various other accounts and their respective functions. Emphasis is placed on the conceptual framework involved in the classification and summarization of financial data. Valuation of assets and liabilities and recognition of revenue and expenses under the accrual basis are emphasized. This online course assumes a foundational knowledge of accounting basics.

Learning Outcomes:

  • identify and explain the purpose of the income statement, statement of owners' equity, balance sheet and how to prepare them in proper form
  • analyze and record business transactions into a journal
  • identify and explain key bookkeeping terms and procedures necessary to perform the daily recording activities of the average office
  • describe a ledger and calculate the balance of an account
  • explain double entry bookkeeping
  • explain how to post from a journal to a ledger
  • explain how to journalize and post adjusting and closing entries

General Topics:

  • Analyzing business transactions (including using T Accounts)
  • The general journal and general ledger entries and adjustments
  • Accounting for purchases, sales, accounts payable and accounts receivable
  • Hanging cash, payroll and banking procedures
  • Accruals, deferrals, and the worksheet
  • Financial statements and closing procedures
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Performance Rubrics (Checklists)
  • Assignments, Discussion Questions

Minimum Passing Score:

70%
Supplemental Materials

Other offerings from Center for Financial Training

(CFTA-0018)
(CFTA-0006)
(CFTA-0007)
(CFTA-0008)
(CFTA-0022)
(CFTA-0009)