CFTEA

Accounting, Financial GL

$450.00

SKU: c4ca4238a0b9 Category:
Code: C1131GL

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, worksheet, and financial statements; familiarization with the 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.

Award Application and Career Pathing

This course applies to the following CFTEA awards:

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
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