Course Summary
Credit Type:
Organization's ID:
Accounting 201
Self-Paced. 38 hours (16 weeks)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Financial Accounting


The course objective is to analyze definitions and explanations of financial accounting terms, balance sheets, income statements, cash flow evaluation, and business transactions.

Learning Outcomes:

  • Analyze specific environmental and theoretical structures affecting financial accounting: economic cost concepts, source documents, technology in accounting, ethics in accounting, and users of financial accounting statements
  • Outline the components of the balance sheet, demonstrate the components of the income statement, and differentiate between the seven forms that an income statement can take
  • Upon completion of the course, the student will be able to describe the uses and application of financial accounting, the GAAP, and IFRS principles and provide examples for demonstration purposes
  • Evaluate cash flows and the time value of money, incorporating the statement of expected cash flow using the correct formatting, Net Present Value (NPV), and annuities
  • Demonstrate their understanding of accounts receivables by performing the calculations for the maturity date as well as the amount of interest charged on the note
  • Discriminate among the various factors affecting the need for controls in accounting and distinguish between variations in the recording of business transactions
  • Demonstrate an understanding, with the aid of relevant examples, of the need for forecasting, break-even analysis, and cost accounting, in managerial decision making
  • And summarize the six main financial ratios, the role played by each in global capital markets, and evaluate the effect of the ratios on decision making in the strategic/managerial planning process

General Topics:

  • Overview of Financial Accounting
  • Ethical & Theoretical Frameworks for Financial Accounting
  • Preparing a Balance Sheet
  • Disclosure Requirements for Balance Sheets
  • Preparing an Income Statement
  • Evaluating Cash Flows & Time Value of Money
  • Cash Flow Statements: Direct & Indirect
  • Preparation of Cash & Receivables
  • Systems & Controls in Accounting
  • Inventory Process in Accounting
  • Business Transactions in Accounting
  • Financial Accounting & Management
  • Financial Ratios & Business Applications
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

Supplemental Materials