Course

Credit Type:
Course
ACE ID:
SDCM-0075
Version:
4
Organization's ID:
Accounting 101
Organization:
Study.com, LLC
Location:
Online
Length:
30 hours over 15 weeks
Minimum Passing Score:
70
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Financial Accounting
Description

Objective:

The course objective is to define financial accounting terminology, concepts, and best practices and to discuss the purpose of accounting, the structure and use of financial statements, types of assets, and other fundamental elements of financial accounting.

Learning Outcomes:

  • Describe the purpose of accounting, generally accepted accounting principles, ethical accounting, and technology in accounting.
  • Interpret financial statements, including balance sheets, income statements, cash flows statements, and financial ratios for analysis.
  • Prepare debits and credits, different types of journal entries, trial balance, adjusting trial balance, and post-closing trial balance.
  • Explain internal controls, safeguards, and how to prepare a bank reconciliation.
  • Compare inventory systems, inventory costing methods, and long-term operating assets, including depreciation and amortization.
  • Apply accounts receivable concepts, revenue recognition, the allowance method, notes receivable, and disposing of receivables.
  • Explain loan components, equity investments, equity financing, corporations, stockholders' equity, common and preferred stock, and retained earnings.

General Topics:

  • Introduction to Accounting
  • Financial Statements in Accountin
  • 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
  • Other
  • Quizzes
  • Chapter Tests, Final Exam
Supplemental Materials
Equivalencies

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