Elements of Accounting I Online Course

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Why take Elements of Accounting I?

This course studies the principles needed to complete the accounting cycle for a business. After completing this course you should be will be able to:

• provide an understanding of the basic financial accounting and reporting process for a business
• enable students, through problem solving, to apply accounting principles to business situations
• familiarize students with engagement to foster skills needed to work with others to solve problems

Students have 3 to 9 months to complete this course from the time of enrollment. You may work at your own pace and complete lessons on your own schedule, submitting up to three items per week for grading. The course is organized in 3 units and covers chapters 1-12 in the textbook.

Each unit covers 4 chapters and has an exam. Each chapter requires reading, Smartbook, homework and a quiz. The assignments are completed on McGraw Hill Connect. Each unit also has a journal assignment conducted on Blackboard.  There are 3 proctored exams using ProctorU Live+. 

Course Outline

Unit 1: Chapters 1-4

• Lesson 1 Chapter 1: Business Decisions and Financial Accounting
• Lesson 2 Chapter 2: The Balance Sheet
• Lesson 3 Chapter 3: The Income Statement
• Lesson 4 Chapter 4: Adjustments, Financial Statements, and Financial Results
• Lesson 5 Unit 1 Journal
• Lesson 6 Exam 1 over Chapters 1 - 4

Unit 2: Chapters 5-8

• Lesson 7 Chapter 5: Fraud, Internal Control, and Cash
• Lesson 8 Chapter 6: Merchandising Operations and Multistep Income Statement
• Lesson 9 Chapter 7: Inventory and Cost of Goods Sold
• Lesson 10 Chapter 8: Receivables, Bad Debt Expense and Interest Revenue
• Lesson 11 Unit 2 Journal
• Lesson 12 Exam 2 over Chapters 5 - 8

Unit 3: Chapters 9-12

• Lesson 13 Chapter 9: Long-Lived Tangible and Intangible Assets
• Lesson 14 Chapter 10: Liabilities
• Lesson 15 Chapter 11: Stockholder’s Equity
• Lesson 16 Chapter 12: Statement of Cash Flows
• Lesson 17 Unit 3 Journal
• Lesson 18 Exam 3 over Chapters 9 - 12

Required Textbook and Materials

Fundamentals of Financial Accounting 7th edition, Phillips, McGraw Hill. ISBN 9781260771381

Online Connect access required. Options include conventional textbook, loose leaf textbook, and electronic textbook. eBook and Connect access can be purchased when logging into Connect through Blackboard.

How will the course appear on my transcript?

You may enroll at any time and have 3-9 months to complete this online course. The college credits you earn will be recorded on your transcript in the semester you register.

Why Take Online Classes at UND?

Here are a few reasons why you should take an online enroll anytime course at UND:

• Great customer service – Our registration team is ready to answer questions quickly so you can focus on your coursework.
• Affordable – UND's enroll anytime courses are priced at North Dakota's affordable, in-state tuition rate.
• Accredited – UND is accredited by the Higher Learning Commission.
• Easily transfer credits – Transferring credits is always at the discretion of the institution to which the credits are being transferred. In general, credits from schools/universities that are regionally accredited by the Higher Learning Commission transfer to other regionally accredited institutions. UND's online courses appear on your UND transcript in the same way as other courses.

Flexible 100% Online Course

You'll take this online course at your own pace. Some students thrive in this environment, while other students may struggle with setting their own deadlines. If you have successfully taken an independent study or correspondence course previously, UND’s enroll anytime courses may be right for you. Still not sure? Take our online quiz to help determine if online enroll anytime courses are right for you.

Course information including tuition, technology requirements, textbooks, lessons and exams is subject to change without notice.