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

Why ebook?  Ebooks offer numerous benefits! They empower you to create flashcards instantly, allowing you to reinforce your understanding of challenging sections. Ebooks facilitate active engagement by enabling you to highlight important passages effortlessly. Plus, they automatically bookmark your progress, ensuring you never lose track of where you left off.  One standout feature of ebooks is their read-aloud functionality. Whether you’re on a long commute or simply need a break from reading, this feature allows the book to be narrated to you, providing a convenient alternative to traditional reading.

Ebooks offer many benefits that cater to diverse reading preferences and lifestyles, and as an added benefit, Ebooks are available on any device!