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