Course Title: Accounting I (3 credits)
Description:
This course focuses on ways in which accounting principles are used in business operations. Students learn to identify and use Generally Accepted Accounting Principles (GAAP), ledgers and journals, and steps of the accounting cycle. This course introduces bank reconciliation methods, balance sheets, assets, and liabilities. Students also learn about financial statements, including assets, liabilities, and equity. Business ethics are also discussed.
StraighterLine courses are accepted at any college that awards credit for courses approved by the American Council of Education and at StraighterLine's regionally accredited partner colleges.
Courses come with up to 10 hours of one-on-one, on-demand, online tutoring.
Goals:
After completing this course, students will be able to:
- Identify and apply Generally Accepted Accounting Principles (GAAP).
- Apply the steps of the accounting cycle.
- Post and analyze transactions using ledgers and journals.
- Record adjusting entries for prepaid expenses and unearned revenue.
- Complete an adjusted trial balance.
- Perform a bank reconciliation.
- Explain the purpose of the sales journal and the Accounts Receivable ledger and post entries to both.
- Record the costs associated with the acquisition of property, plant, and equipment.
- Explain the purpose of and prepare entries for the purchase order journal and accounts payable (A/P) ledger.
- Identify the fundamental principles of an accounting information system.
Grading System:
StraighterLine does not apply letter grades. Students earn a score as a percentage of 100%. A passing percentage is 70% or higher.
If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.
There are a total of 859 points in the course:
| Topic | Assessment | Points Available |
|---|---|---|
| 3 | Graded Quiz A | 26 |
| 4 | Graded Quiz B | 25 |
| 5 | Graded Quiz C | 26 |
| 5 | Graded Exam #1 | 150 |
| 6 | Graded Quiz D | 26 |
| 7 | Graded Quiz E | 26 |
| 7 | Graded Exam #2 | 150 |
| 8 | Graded Quiz F | 25 |
| 9 | Graded Quiz G | 25 |
| 10 | Graded Quiz H | 26 |
| 10 | Graded Exam #3 | 150 |
| 13 | Graded Quiz I | 28 |
| 14 | Graded Quiz J | 26 |
| 14 | Exam #4 | 150 |
School Description:
Featured in Business Week, Forbes and the New York Times, StraighterLine offers for credit, online college courses in math, writing, accounting, and economics -- required for all degrees -- for $99 per month + $39 per course.
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These courses are:
- Accepted at thousands of colleges.
- Self-paced and can be started at any time.
- Supported by live, online tutoring up to 24/7.
- 100% online.
StraighterLine courses are real courses that receive real credit from accredited universities. StraighterLine courses are recommended for college credit by the American Council on Education (ACE). Most colleges will accept ACE recommended courses for credit. Check with the college in which you would like to eventually enroll.
