Description
This course provides a comprehensive introduction to the principles and practices of accounting. Students will learn the fundamental concepts of financial accounting, including the accounting cycle, preparation of financial statements, and the analysis of financial information. Key topics include:
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Accounting Principles and Concepts: Understanding the basic principles that underpin the accounting process.
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The Accounting Cycle: Recording transactions, adjusting entries, and preparing financial statements.
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Financial Statements: Learning to prepare and interpret the balance sheet, income statement, and cash flow statement.
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Internal Controls: Exploring methods to safeguard assets and ensure the accuracy of financial records.
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Ethics in Accounting: Discussing the ethical considerations and professional standards in the accounting profession.
Throughout the course, students will engage in practical exercises and case studies to apply their knowledge in real-world scenarios. By the end of the course, students will have a solid foundation in accounting principles, preparing them for further study or entry-level positions in the field of accounting.
Topics Covered:
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Chapter 00. Introduction to Accounting
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Chapter 1. Asset, Liability, Owner’s Equity, Revenue, and Expense Accounts
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Chapter 2. T Accounts, Debits and Credits, Trial Balance, and Financial Statements
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Chapter 3. The General Journal and the General Ledger
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Chapter 4. Adjusting Entries and the Work Sheet
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Chapter 5. Closing Entries and the Post-Closing Trial Balance
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Chapter 6. Bank Accounts, Cash Funds, and Internal Controls
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Chapter 7. Employee Earnings and Deductions
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Chapter 8. Employer Taxes, Payments, and Reports
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Chapter 9. Sales and Purchases
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Chapter 10. Cash Receipts and Cash Payments
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Chapter 11. Work Sheet and Adjusting Entries
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Chapter 12. Financial Statements, Closing Entries, and Reversing Entries
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Appendix A. Methods of Depreciation
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Appendix B. Bad Debts
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Appendix C. Inventory Methods
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Appendix D. Notes Payable and Notes Receivable
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Appendix E. Departmental Accounting
Award Application and Career Pathing
This course applies to the following CFTEA awards: