Financial Accounting Course Syllabus

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Financial Accounting Course Syllabus

Course Objectives

This course in financial accounting serves as the first course designed to introduce students to accounting and more specifically, financial accounting. The primary objective of this course is to teach the fundamental principles found in financial accounting as well as the skills necessary to apply those fundamental theories. Students will be required to apply their accounting knowledge to complex business simulations as they progress through the course. Additional information is provided related to business transactions to allow students to fully understand how to record business transactions. The course shows students the connection of the business world to how business transactions are reported in financial statements. The level of knowledge obtained from this course is equivalent to what you would expect from a first-year course in financial accounting from a top university. Prior knowledge in accounting is not required for this course.

Course Materials

All course materials required for this course are provided free of charge. The required textbook is provided for download and may be distributed as needed. Additional materials provided are interactive lecture videos, practice problems, quizzes, and exams. The optimal path for most students is to progress through the course by utilizing the interactive lectures. Reading the textbook prior to the interactive lectures is recommended but not required. The interactive lectures will automatically direct students to the relevant assessment and problem solving simulations.

Class Learning Structure and Organization

This course is structured such that a student can self-study the material on demand. There is no need to register for the course or sign up. An ideal place to start the course is by reviewing this syllabus and then proceeding to the first chapter. Students are provided the free textbook to use as they wish. If students don’t want to read the textbook then they are not required to as all the material in the textbook is covered in the interactive lectures. Students are encouraged to review practice problems and take the quizzes after each chapter. Students should master the topics in the previous chapter before proceeding to the next chapter as each chapter builds upon the previous skills and knowledge obtained. If students are struggling in a specific chapter then they are encouraged to continue reviewing simulation questions until mastery is achieved. The course is self-paced so students are encouraged to progress at their own pace until full mastery of the subject is achieved.

Grading, Exams and Practice Problems

All exams are on-demand and can be taken as many time as the student wishes. It is recommended that students score at least mastery level on the quizzes and exams before proceeding to the next chapter. All of our exams and quizzes are designed to improve student’s competency. The quizzes and assessments will not provide you with a percentage score or tell you how many question you got wrong. This information is not important. The quizzes and exams tell you what topics you are strong in and what topics you need improve in. You will receive a customized learning plan after each quiz or exam to help you master those areas where you are weak in. Students may retake all quizzes and exams until mastery is achieved. Learning is all about how well you are able to apply your skills or knowledge and how well you have mastered the subject. How you rank compared to other students is not important.

Discussion Forum

Students are encouraged to discuss or seek help from other students and mentors by posting questions in our discussion forum. All questions are welcome and we also encourage students to post their homework questions if they are taking a different financial accounting course. The discussion forum is located here.

Use of Artificial Intelligence

This course utilizes a proprietary artificial intelligence (AI) algorithm to customize the course material based on interactions with the student. As you progress through the course the AI learns more about your strengths and weaknesses.  Our AI technology attempts to find the best learning strategy for each student based on how the student learns best.  The AI will teach the student specific content or skills and students will be required to master these concepts before they progress to new content. All interactions are designed to allow the student to apply their knowledge or skills to a specific problem. By doing this, the student will be able to understand the material at a higher level compared to traditional learning methods. All of our course materials can be modified  programmatically by the AI based on your student information profile. All of our course materials are also programmatically updated so you will always be learning the latest material. By registering an account you agree that this website may collect your interactions for user experience improvement purposes only.

Learning Objectives

We will cover all the standard topics covered in a first-year undergraduate course in financial accounting. These topics include:

  • Fundamental theories of accounting
  • Double-entry accounting rules and transaction analysis
  • Full-cycle accounting
  • Business ethics
  • Financial statement analysis
  • Forms of business entities
  • Transactions related to the balance sheet
  • Transactions related to the statement of income
  • Preparation of statement of retained earnings
  • preparation of the statement of cash flows (direct and indirect methods)
  • Additional topics in financial accounting

 College Credit

Completion of this course does not grant you college credit; however, this course does teach you everything you need to know to pass the college level examination program (CLEP) exam in financial accounting. More information on that exam can be found here. If you are planning on using this course to study for the CLEP exam be sure to check out our study guide. Students who successfully pass the financial accounting CLEP will also automatically receive certificate recognition in your student dashboard. Please submit your CLEP exam report to admin@accountingcompendium.com for recognition.

Please Help Contribute

This course was developed by hundreds of passionate volunteers who had a passion for financial accounting. As a society, we must give back to the community by providing high-quality educational materials. You can help achieve this mission by contributing your knowledge about financial accounting to our wiki page, located here.

Advertising

To encourage the development of additional free high-quality courses we utilize non-intrusive advertising to help fund future expansion. We currently utilize the Google advertising network to earn money for our project. Normally a course of this quality would require a fee to gain full access. We have abandoned such a model and have adopted a purely free model to allow every learner to gain access to high quality materials. If you are using an ad blocking software, we encourage you to disable the software for our website. All of our ads are non-intrusive.

We do not solicit or offer product placements or any similar advertising that is disguised in the learning materials. Such advertising methods are unethical in our opinion.

 

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