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Financial Accounting

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Spring Term 2018

April 12th – July 12th, 2018
Class meets weekly on Thursdays from 5:30 – 8:30 pm


Course Objective

The objective of the Financial Accounting course is to provide students with the fundamental knowledge necessary to become an entry-level bookkeeper.  This intensive, course will develop your skills to successfully handle the basic accounting tasks common to any business.

This program fully demonstrates the importance and functionality of proper accounting in business financial management. In addition to being the prerequisite to the AIPB Bookkeeper Certification Program, this course is ideal for business owners, managers, and bookkeepers who want a better understanding of the accounting cycle, transaction processes, and financial statements in order to better manage their business financials.

Upon successfully completing this course, students will be able to perform the following accounting tasks:

  • Prepare journal entries to record accounting transactions using the debit and credit process
  • Enter and post accounting transactions from the journals to general ledger accounts
  • Prepare adjusting entries to arrive at an adjusted trial balance
  • Compile a Balance Sheet and Income Statement from the adjusted trial balance
  • Prepare and post the end of the accounting period closing entries
  • Analyze financial reports for the purpose of making business decisions


Course Outline

The Financial Accounting Course consists of 13 units of study:

1.       Introducing Financial Accounting

2.       Accounting for Transactions

3.       Preparing Financial Statements

4.       Accounting for Merchandising Operations

5.       Accounting for Inventories

6.       Accounting for Cash & Internal Controls

7.       Accounting for Receivables


8.       Accounting for Long-Term Assets

9.       Accounting for Current Liabilities

10.     Accounting for Long-Term Liabilities

11.      Accounting for Equity

12.     Accounting for Cash Flows

13.     Analysis of Financial Statements