Financial Accounting Course

This Financial Accounting course is ACE recommended for college credit transfer!

ACE Credit Recommendation Reference Number: CFTA-0022 (CFT Course Code: ACC201)

The Financial Accounting course covers accounting terminology; the recording and classifying of financial transactions, including analyzing, journalizing, and posting; the preparation of the trial balance, work sheet and financial statements; a familiarization with handling of adjustments, bad debts, inventory and depreciation; and matters concerning sole proprietorship and partnership (see complete description below).

Course Prerequisite Info

CFT strongly RECOMMENDS that students complete either an Accounting Basics or an Accounting Fundamentals course prior to taking the Accounting course.

Course Description and Audience

The Financial Accounting course covers accounting terminology; the recording and classifying of financial transactions, including analyzing, journalizing, and posting; the preparation of the trial balance, work sheet and financial statements; a familiarization with handling of adjustments, bad debts, inventory and depreciation; and matters concerning sole proprietorship and partnership.  Course objectives:  describe content and purposes of balance sheet and income statement; compare the basic characteristics of the accrual basis with the cash basis of accounting; explain the full accounting cycle and prepare all required journals, entries, and adjustments; outline the necessity for and features of internal control; identify the basic assumptions, principles, and modifying conventions of accounting; describe how inflation affects information presented in conventional financial statements; define partnerships and their characteristics.

Textbook chapter topics include:

  • Accounting
  • Basic Financial Statements
  • The Accounting Cycle: Capturing Economic Events
  • The Accounting Cycle: Accruals and Deferrals
  • The Accounting Cycle: Reporting Financial Results
  • Merchandising Activities
  • Financial Assets
  • Inventories and the Cost of Goods Sold

Audience:  Appropriate for students who need a working knowledge of accounting.  Students should expect 6-8 hours of homework each week.

Diploma and Certificate Applications

Diplomas and Certificates Applicable to the Financial Accounting course:

Related Topics

Instructor

Erik Lamothe
Erik Lamothe

Erik has been in banking since 1998 and started as a Staff Accountant for Westfield Bank. He has experience in all areas of bank finance including Account reconciliations, Month-end closings, Call Rep... read more.

Course Title Credits Start Date Start Time Delivery Type Delivery Option Instructor / Location Price
Financial Accounting 3 01/17/2022 Any Online Online Erik Lamothe $725.00 Register Now
Financial Accounting 3 03/25/2022 Any Online Online Faculty $725.00 Register Now
Financial Accounting 3 06/13/2022 Any Online Online Faculty $725.00 Register Now
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