Course Summary
Credit Type:
Self-paced. 15 weeks (30 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 financial accounting


The course objective is to provide a complete introduction to financial accounting terminology, concepts, and best-practices. Students will be able to understand the purpose of accounting, financial statements, types of assets, and other elements of financial accounting.

Learning Outcomes:

  • interpret balance sheets, income statements and cash flow statements, and understand how to prepare different financial statements and about the auditing process
  • discover debits, credits, journal entries, the trial balance and how to determine a company's performance based on financial statement ratios
  • explain internal controls, safeguards and bank reconciliation
  • study accounts receivable, revenue recognition, the allowance method, notes receivable and disposing of receivables
  • define long-term operating assets, plant assets, the cost principle, acquisition of property, computing depreciation, natural resource assets and accounting for intangible assets
  • break down loans, equity investments, raising equity financing, corporations, stockholder's equity, common and preferred stock, accounting for stock and retained earnings
  • distinguish the purpose and elements of financial statement analysis, standards for comparison, horizontal analysis, vertical analysis and financial ratio analysis
  • interpret financial ratios for companies, efficiency ratios, leverage ratios and issues with financial statement analysis
  • understand the purpose of accounting, generally accepted accounting principles, ethical accounting and technology in accounting

General Topics:

  • Introduction to accounting
  • Financial statements in accounting
  • Mechanics of the accounting cycle in accounting
  • Adjusting accounts and preparing financial statements in accounting
  • Internal controls in accounting
  • Merchandising operations and inventory in accounting
  • Receivables in accounting
  • Completing the operating cycle in accounting
  • Long-term assets in accounting
  • Current and long-term liabilities in accounting
  • Reporting and analyzing equity in accounting
  • Statement of cash flows in accounting
  • Financial statement analysis and interpretation in accounting
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

Supplemental Materials