This course is an introduction to financial accounting with an emphasis on using financial data for decision making. The focus will be on the application of basic accounting concepts and principles in enterprise and small business transactions. Students will learn how to identify, measure and report economic events of an enterprise.
This undergraduate course is 5 weeks.
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.
Topics and Objectives
The Basics of Accounting
- Identify the effects of transactions on the accounting equation.
- Recognize accounting terms and transactions.
Analyze and Record Transactions
- Use T-Accounts to show the effect of an accounting transaction.
The General Ledger
- Record transactions in the general journal.
- Post journal entries to general ledger accounts.
- Prepare adjusting entries.
- Prepare an income statement, balance sheet and statement of owners' equity.
Closing Entries and the Postclosing
- Prepare a postclosing trial balance.
- Interpret financial statements.
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. More information about eligibility requirements, policies, and procedures can be found in the catalog.
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.