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Principles of Financial Accounting I (ACC-101)
Various; distance learning format.
Varies (self-study; self-paced).
August 2018 - Present.
Upon completion of this proficiency exam, students will be able to: analyze financial transactions and determine whether they are working with asset, liability or equity accounts; record transactions in proper accounting format; prepare balance sheets, income statements, and the statement of cash flows; evaluate inventory costing systems; and apply basic accounting internal control principles over cash.
This proficiency exam provides an introduction to the field of accounting and focuses on the following topics: how financial information is developed and utilized to prepare and interpret financial statements, the fundamentals of the accounting cycle (recording, summarizing, and reporting), and the preparation of financial reports, inventory and internal control.
In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting, Business, Business Administration, or Finance (8/18).