Accounting Principles 1 Course
Credits: 3 Credits (126 Clock Hours)
Self-paced: 4-month completion deadline.
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Delve into the intricate lexicon of business with this comprehensive course that deciphers the essence of accounting. This course facilitates the students journey into understanding the very framework on which business narratives are built. With the aid of real companies' annual reports, the course elucidates various accounting principles, giving students a pragmatic perspective. By exploring the preparation of accounting information, students are empowered to make astute management decisions grounded in tangible data.
What you'll learn:
- Distinguish between the three predominant forms of business organizations.
- Interpret and understand the purposes of key financial statements, including the income statement, statement of retained earnings, balance sheet, and statement of cash flows.
- Utilize accounts as primary tools for classifying and storing vital accounting information.
- Compare and contrast the fundamental attributes of cash basis and accrual basis of accounting.
- Navigate the successive stages involved in the accounting cycle.
- Grasp the foundational assumptions and concepts underpinning the realm of accounting.
- Compile accurate journal entries pertinent to sales transactions associated with merchandise.
- Weigh the pros and cons of the principal inventory methodologies.
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Courses are self-paced and supported by qualified faculty. Students work on their reading, assignments, and quizzes on their own time. This flexibility allows students to study while navigating the rest of their busy lives. Our courses and programs have completion deadlines, but beyond that, students can complete the work on their own schedule. Instructors are always available for questions and support. Students are not required to attend any scheduled class meetings.
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Advance your education with an accredited certificate program from Washington Technical Institute (WTI). WTI is Regionally accredited by the Middle States Association CESS, and licensed by the Minnesota Office of Higher Education as an institution of higher learning.
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Washington Technical Institute is Regionally accredited by the Middle States Association CESS, and licensed by the Minnesota Office of Higher Education as an institution of higher learning.