Course

Course Summary

Credit Type:

Exam

ACE ID:

CLEP-0039

Organization:

College Board's College-Level Examination Program (CLEP)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Financial Accounting or Principles Of Accounting

Credit is recommended for candidates scoring 50 and above.

Description

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