Learn Financial Accounting – Intro to Financial Accounting Course

• Importance and users of accounting
• Accounting activities and career paths
• Financial statements and their relationships
• Analyzing and recording transactions
• Journal entries

• Adjusting entries and the adjustment process 
• Recording and posting common types of adjusting entries
• Ledger balances and preparing an adjusted trial balance
• Preparing financial statements using the adjusted trial balance
• Closing entries and post-closing trial balance
• The current ratio and working capital balance
• The comprehensive accounting cycle

• Merchandising vs. service activities and transactions
• Perpetual vs. periodic inventory systems
• Freight-in methods
• Accounting fraud, internal controls, and management responsibilities
• Bank reconciliation and associated journal entries
• Financial statement fraud and Sarbanes-Oxley Act (SOX) requirements

• Revenue Recognition Principle
• Uncollectable accounts
• Receivables management using financial ratios
• Notes receivable and accounts receivable
• Cost of goods sold and ending
• Inventory: Periodic Method
• Inventory valuation errors

• Tangible and intangible assets
• Capitalized costs vs. expenses
• Depreciation methods
• Intangible assets and recording related transactions
• Analyzing, journalizing, and reporting current liabilities
• Contingent liabilities
• Journal entries for short-term notes payable
• Pricing and amortization of long-term liabilities (straight-line method)
• Statement of cash flows: purpose, preparation (indirect method), assessing liquidity and solvency

• Demonstrate an understanding of basic financial accounting principles
• Analyze and prepare financial statements in accordance with recognized standards
• Identify the steps and sequence of the accounting cycle
• Understand and compare internal controls and how they facilitate ethical accounting practices
• Calculate inventories and cost of goods sold
• Define tangible and intangible assets
• Distinguish between current and long-term liabilities
• Apply various accounting ratios to assess the financial health of a business

• Course quizzes and exams consist of multiple choice, true/false, select all that apply, matching, and open-response questions. All are autograded by the LMS, so educators can spend more time with students and less time grading.

Each course comes with additional tools to resource asynchronous learning:

• Skills crosswalks
• Course component walkthroughs
• Section lesson plans
• Chapter summaries

As an educator, you will receive graphic organizers, lesson plans, exam preparation materials, multi-language learner support resources, and educator guides to best support your students through this course.

Your students will learn from DePaul University accounting professor and licensed CPA, Kelly Richmond Pope, Ph.D. She combines her gift for storytelling with a lifetime of real-world experience to bring financial accounting to life for students.