Course Number: CFT
Course Code: ACG 7001
This Accounting Course is ACE recommended for college credit transfer!
The Accounting course teaches students the information needed to create financial statements, including trial balances, t-accounts, balance sheets, and various other accounts and their respective functions. Emphasis is placed on the conceptual framework involved in the classification and summarization of financial data. Valuation of assets and liabilities and recognition of revenue and expenses under the accrual basis are emphasized. Please note: Students should expect 6-8 hours of homework each week.
Textbook Chapters include:
– Accounting: The Language of Business
– Analyzing Business Transactions
– Analyzing Business Transactions using T Accounts
– The General Journal and the General Ledger
– Adjustments and the Worksheet
– Closing Entries and the Postclosing Trial Balance
– Accounting for Sales and Accounts Receivable
– Accounting for Purchases and Accounts Payable
– Cash Receipts, Cash Payments, and Banking Procedures
– Payroll Computations, Records, and Payment
– Payroll Taxes, Deposits and Reports
– Accruals, Deferrals, and the Worksheet
– Financial Statements and Closing Procedures
Audience: Students who require a fundamental knowledge of accounting
Prerequisites: Accounting Basics or an Accounting Fundamentals course prior to taking the Accounting course.