InstantCREDIT Course
Financial Accounting
This course will serve as an introduction to financial accounting, starting with the basics about assets, liability, and equity and moving on to fundamental concepts like the accounting equation, debits and credits, the accounting cycle, and financial statements.
At a Glance
Course Value: 3 Credit Hours
Course Level: Lower-Level Undergraduate
Course Length: 69 lessons
🗎 Download Syllabus in Word Format
Course Level: Lower-Level Undergraduate
Course Length: 69 lessons
🗎 Download Syllabus in Word Format
Course Outline
Click on a chapter name below to expand and see the lessons contained in that chapter.
Ch. 1: Basics of Financial Accounting- 2: Structures of a Business
- 3: Comparing Internal vs. External Users
- 4: Business Activities
- 5: Financial Statements
- 6: Elements of Financial Accounting
- 8: Liabilities
- 9: Equity
- 11: Conceptual Framework
- 12: Double Entry Accounting System
- 13: Debits and Credits
- 14: Normal Balances and RED Accounts
- 16: Posting to the General Ledger
- 17: Trial Balance
- 18: Adjusting Entries for Accrued Expenses
- 19: Adjusting Entries for Prepaid Expenses
- 20: Adjusting Entries for Unearned Revenue
- 21: Adjusting Entries for Accrued Revenue
- 22: Adjusting Entries for Amortization and Depreciation
- 23: Adjusted Trial Balance
- 24: Preparing the Financial Statements
- 25: Permanent vs. Temporary Accounts
- 26: Closing Entries
- 28: Periodic vs. Perpetual Inventory Systems
- 29: Journalizing Purchase Entries
- 30: Journalizing Sales Transactions
- 31: Preparing a Multiple-Step Income Statement
- 32: Periodic Inventory System Purchases
- 33: Periodic System and the Multiple-Step Accounting System
- 35: FIFO Method and Inventory Costing
- 36: Average Cost Method and Inventory Costing
- 37: The LIFO Method
- 38: Average Cost Method for the Perpetual System
- 39: Comparing Inventory Costing Methods
- 41: The Allowance Method
- 42: Percentage of Sales Method
- 43: Percentage of Receivables Method
- 44: Receivables Method and the Aging Table
- 45: Write Off Receivables Using the Allowance Method
- 46: Direct Write-Off Method
- 48: Revenue Recognition Examples
- 49: Revenue Recognition and Long Term Contracts
- 50: Percentage of Completion Method
- 51: Percentage of Completion Method Journal Entries
- 52: Percentage of Completion Method and Journalizing Losses
- 53: Cost Recovery Method
- 54: Completed Contract Method and Journal Entries
- 55: Completed Contract Method and Losses
- 57: Straight Line and Declining Balance Methods
- 58: Straight Line and Double Declining Balance Depreciation Examples
- 59: Gains and Losses on Disposals of Property, Plant & Equipment
- 61: Amortizing Intangible Assets
- 62: Impairment of Intangible Assets
- 63: Recording Goodwill, Amortization and Impairment
- 65: Cash Flow Statement Using Indirect Method Part 2, Receivables
- 66: Cash Flow Statement Using Indirect Method Part 3, Inventory
- 67: Cash Flow Statement Using Indirect Method Part 4, Payables
- 68: Cash Flow Statement Using Indirect Method Part 5, Non Cash Expenses
- 69: Cash Flow Statement- Investing and Financing Activities
Course Requirements
All of our courses are scored on a 1,000 point scale. You must accumulate a total of 700 points in the course to pass the course. Below is the breakdown of how points are allocated:
| Study Questions | 300 points |
| Graded Exam #1 | 100 points |
| Midterm Exam | 200 points |
| Graded Exam #2 | 100 points |
| Final Exam | 300 points |
For additional details on the assignments, exams, and retake policies, check the syllabus for this course (link provided near the top of this page).
Exam Proctoring
The Final Exam for this course is administered in conjunction with a 3rd party online proctoring service, PSI Services' RPNow. RPNow proctoring allows you to take the exam on a desktop or laptop computer from anywhere you have internet access at any time, no scheduling required.
Proctoring costs $15 (paid directly to PSI Services at the time of the exam) and is ONLY required for the final exam.
Earning Credit for this Course
This course has been reviewed by ACE Credit and is recommended for 3 lower-level credit hours. Upon successful completion of this course, it will be added to your ACE transcript which is then sent to your school to be evaluated for transfer credit.
Getting Started
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