Course

Course Summary
Credit Type:
Course
ACE ID:
SAYA-0021
Organization's ID:
BUS103: Introduction to Financial Accounting
Organization:
Saylor Academy
Location:
Online
Length:
Self-Paced (82 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 introduction to financial accounting
Description

Objective:

The course objective is to present the accounting systems and rules used to translate the economic activities of firms into financial data. Creation and analysis of financial statements in order to make informed stakeholder decisions will be emphasized.

Learning Outcomes:

  • explain the foundational principles and objectives of accounting
  • analyze business transactions and record them using Generally Accepted Accounting Principles (GAAP)
  • define assets, liabilities, and equity, and apply the specific rules governing their treatment in accounting
  • perform the steps of the accounting cycle
  • create the four major financial statements: income statement, balance sheet, statement of stockholders' equity, and cash flow statement
  • apply ratio and trend analysis to financial statements to aid in decision making
  • identify fraud risk and describe the role of internal controls in an organization

General Topics:

  • Accounting environment, decision-making, and theory
  • Recording business transactions
  • Adjusting entries
  • Completing the accounting cycle
  • Financial reporting and financial statement analysis
  • Accounting for inventory
  • Accounting for receivables and payables
  • Accounting for property, plant, and equipment
  • Long-term liabilities and stockholders' equity
  • Statement of cash flows
Instruction & Assessment

Instructional Strategies:

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

Methods of Assessment:

  • Examinations
  • Other
  • proctored final exam

Minimum Passing Score:

70%
Supplemental Materials