Course

Course Summary
Credit Type:
Course
ACE ID:
PJAO-0008
Organization's ID:
P-A 106
Organization:
Prism Career Institute
Location:
Classroom-based
Length:
90 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 4 Intermediate Accounting (6 Hours Total)
Upper-Division Baccalaureate 2 Financial Accounting
Description

Objective:

To teach the student the procedures, methods, and systems necessary to properly account for the major asset, liability, and equity accounts and how they are affected by generally accepted accounting principles. To provide the students with a knowledge of the generally accepted accounting principles, systems, and procedures applicable to the asset, liability, equity accounts, and income determination.

Learning Outcomes:

  • Use the practical skills acquired during the program to maintain the integrity of the accounting system
  • Demonstrate knowledge of the importance of maintaining proper inventories, identifying the major inventory valuation methods (specific identification, LIFO, FIFO, and weighted average), and the periodic and perpetual inventory systems
  • Identify the differences in the area of equity based upon the type of business organization - sole proprietors, partnerships, or corporations
  • Apply the tools of financial analysis (horizontal, vertical, trend, and to monitor an organization's performance)
  • Understand the methods used to prepare a statement of cash flow (direct and indirect) and how to use the information contained in the statement
  • Demonstrate a working knowledge of the procedures, methods, and systems necessary to properly account for the major asset, liability, and equity accounts and know how they are affected by generally accepted accounting principles
Instruction & Assessment

Instructional Strategies:

  • Classroom Exercise
  • Discussion
  • Lectures
Supplemental Materials