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)

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:

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.

Diplomas and Certificates Applicable to the Financial Accounting course:

• General Financial Services Diploma
• Advanced Financial Services Diploma
• Financial Services Operations Diploma
• Introduction to Credit Analysis Certificate
• Introduction to Lending Certificate
• Real Estate Lending Diploma
• Consumer Lending Diploma
• Commercial Lending Diploma
• Agricultural Lending Diploma
• Financial Services Management Diploma
• Financial Services Marketing Diploma
• Introduction to Accounting Certificate

eBook access included in tuition