Theological Research Institute, Ltd. (TRI) | Evaluated Learning Experience
Financial Accounting (ACCT 205)
August 2021 – Present.
Upon successful completion of the learning experience, students will be able: to explain the foundational principles and objectives of accounting; analyze business transactions and record them using Generally Accepted Accounting Principles (GAAP); define assets, liabilities, and equity, and apply the specific rules governing their treatment in accounting; perform the steps of the accounting cycle; create the four major financial statements: income statement, balance sheet, statement of stockholders' equity, and cash flow statement; and apply ratio and trend analysis to financial statements to aid in decision-making.
This course introduces students to financial accounting in preparation for more advanced business topics. Recording financial information in a standard format allows managers, investors, lenders, stakeholders, and regulators to make appropriate decisions. This course looks at the income statement, balance sheet, statement of cash flows, and statement of shareholders' equity. Students also learn how to compile and analyze these financial statements from the accounting data they have created.
In the lower division baccalaureate/associate degree category, 3 semester hours in Mathematics, Business, Finance, Economics, Accounting, Management, Forensic Accounting, or Business Analytics (7/22).