Please visit https://www.cftnow.org/courses/financial-accounting/ to register.
If you have questions about registering, please email Emily Laroche at email@example.com.
This Financial Accounting course is ACE recommended for college credit transfer!
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.
CFT strongly RECOMMENDS that students complete either an Accounting Basics or an Accounting Fundamentals course prior to taking the Accounting course.