Course

Course Summary
Credit Type:
Course
ACE ID:
SKIL-0069
Organization:
SkillSoft Corporation
Location:
Classroom-based
Length:
23 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 1 Principles Of Accounting
Description

Objective:

The course objective is to provide learners with an understanding of basic accounting principles and financial statements, budget planning and an organization's control process, the auditing function, and the capital budgeting planning and process in an organization.

Learning Outcomes:

  • Recognize journal entries for business related and equity transactions using debit/credit theory and their impact on the accounting records
  • Prepare basic financial statements, and recognize and understand their key characteristics
  • Understand various budgeting methods and prepare budgets
  • Identify and assess internal control components for different cycles and recognize appropriate testing strategies under different scenarios
  • Use quantitative assessment techniques to identify projects with the highest potential for success based on the strategic planning decisions
  • Demonstrate an understanding of the key concepts and principles of accounting
  • Understand the accounting cycle and how trial balances are used

General Topics:

  • Basic accounting principles and framework
  • The effect of business transactions
  • Equity transactions
  • The accounting equation
  • Debit and credit theory
  • The accounting cycle
  • Accrual accounting
  • Financial statements
  • Organizational budget activities
  • Planning and preparing cash and operating activities budget
  • Using budgets for management and control
  • Introduction to auditing
  • Internal control and risk assessment
  • Processes for auditing the revenue cycle, cash and inventories
  • The capital budgeting process
  • Net present value
  • Internal rate of return
  • Capital allocation
  • Discounted payback period
  • Profitability Index
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Practical Exercises
Supplemental Materials