Course

Credit Type:
Course
ACE ID:
FNDR-0019
Version:
1
Organization:
Location:
Online
Length:
14 weeks (9 hours per week)
Minimum Passing Score:
70
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Principles of Financial Accounting
Description

Objective:

The course objective is to introduce students to the foundational concepts, practices, and professional standards of financial accounting. Through real-world applications, students explore the accounting cycle, double-entry bookkeeping, and the preparation and analysis of core financial statements. The course emphasizes the interpretation of assets, liabilities, equity, revenue, and cash flows in accordance with Generally Accepted Accounting Principles (GAAP). Students also evaluate ethical responsibilities in financial reporting and the role accounting plays in corporate decision-making and transparency. Through engaging discussion forums, critical writing assignments, and a multimedia presentation, students gain practical skills that support personal financial awareness, informed business decisions, and preparation for careers in accounting or business leadership.

Learning Outcomes:

  • Prepare and analyze financial statements, including balance sheets, income statements, and statements of cash flows
  • Evaluate accounting practices related to inventory, revenue recognition, long-term assets, and liabilities
  • Interpret financial data and perform basic financial analysis to assess business performance
  • Apply ethical standards and assess real-world implications of financial reporting regulations (e.g., Sarbanes-Oxley Act)
  • Communicate accounting knowledge effectively through written assignments, discussion, and multimedia presentations
  • Use APA citation and scholarly sources to support analysis and demonstrate academic integrity
  • Define and apply essential financial accounting concepts to business operations and decision-making
  • Accurately perform double-entry bookkeeping and complete the accounting cycle in accordance with GAAP

General Topics:

  • Foundations of financial accounting and business decision-making
  • The accounting cycle and double-entry bookkeeping under GAAP
  • Recording and reporting financial transactions
  • Accounting for inventories, revenues, and merchandising activities
  • Financial assets, long-term liabilities, and stockholders’ equity
  • Preparing and analyzing the statement of cash flows
  • Financial statement interpretation and analysis
  • Ethical issues and professional conduct in accounting
  • The role of accounting in corporate governance and regulation
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Discussion
  • Project-based Instruction

Methods of Assessment:

  • Examinations
  • Presentations
  • Quizzes
  • Written Papers
Supplemental Materials
Equivalencies

Other offerings from Founders Institute LLC