This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on the enterprise. Financial information is examined from the perspective of effective management decision making with special emphasis on the planning and controlling responsibilities of practicing managers.
Prepare closing entries, reversing entries, and a post-closing trial balance.
Prepare classified income statements and balance sheets, and the statement of retained earnings.
Prepare a financial statement worksheet.
Starting the Accounting Cycle
Prepare an adjusted trial balance.
Identify and calculate adjusting entries.
Basic Accounting Principles and Concepts
Post journal entries to the general ledger.
Analyze transactions using the rules of debit and credit.
Explain the four basic financial statements and how they are interrelated with each other.
Identify the basic assumptions, principles, and constraints of accounting.
Define the purpose of accounting.
Financial Statement Analysis
Perform ratio, vertical, and horizontal analysis on financial statements.
Internal Controls, Regulatory Bodies, and Ethics
Examine the impact of unethical behavior on accounting practices.
Identify the various accounting regulatory bodies.
Summarize strengths and weaknesses of an internal control system.
The University of Phoenix reserves the right to modify courses.
While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Advisor.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
Start your journey now
Learn more today
Speak live with an enrollment advisor M-F 6:00 a.m. — 6:00 p.m. MST.