Course

Course Summary

Credit Type:

Course

ACE ID:

OOSL-0009

Organization's ID:

ACC101

Organization:

StraighterLine

Location:

Online

Length:

14 weeks (75 hours)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Accounting I

Description

Objective:

The course objective is to introduce accounting concepts and their business relationships. The accounting cycle is covered, focusing on general journal transactions and financial statements for service and merchandising businesses. Other topics covered include inventory valuation methods, receivables, payroll and internal control concepts.

Learning Outcomes:

Describe the purpose of accounting and explain its role in business.
Record business transactions using the accounting equation and financial statements.
Demonstrate recording transactions in a general journal, posting to ledger accounts and preparing a trial balance.
Demonstrate the steps involved in the accounting cycle.
Prepare transactions and financial statements for a merchandising business.
Determine the cost of inventory and the impact on financial statements using different costing methods.
Apply internal control concepts to cash and asset management.
Determine the accounting practices for property, plant and equipment.
Describe the details of liabilities and payroll reporting.