- Course type: Self-paced
- Available Lessons: 139
- Average Lesson Length: 8 min
Eligible for Credit: Yes
Earn transferable credit by taking this course for credit.
Watch a preview:chapter 1 / lesson 1What Is Sole Proprietorship: Definition, Advantages & Disadvantages
Course SummaryAccounting 302: Advanced Accounting has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. With this self-paced course, you get engaging lessons, expert instructors who make even the most challenging accounting topics simple, and an excellent resource for getting a head start on your degree.
To Start This Course Today
Try it free for 5 days
Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
The course objective is to examine accounting principles, such as interpreting financial statements, balance sheets, and profit and loss statements.
Your grade for this course will be calculated out of 300 points. The minimum score required to pass and earn real college credit for this course is 210 points, or an overall course grade of 70%. The table below shows the assignments you must complete and how they'll be incorporated into the overall grade.
|Proctored Final Exam||100|
Quizzes are meant to test your comprehension of each lesson as you progress through the course. Here's a breakdown of how you will be graded on quizzes and how they'll factor into your final score:
- You will have 3 attempts to take each quiz for a score.
- The highest score of your first 3 attempts will be recorded as your score for each quiz.
- When you've completed the course, the highest scores from your first 3 attempts at each quiz will be averaged together and weighed against the total possible points for quizzes. For instance, if your average quiz score is 85%, you'll receive 85 out of 100 possible points for quizzes.
- After your initial 3 attempts, you can take a quiz for practice as many times as you'd like.
- You will need to pass each quiz with a score of at least 80% to earn course progress for the lesson. However, it is not necessary to earn 80% within the first three quiz attempts.
Assignments are intended to assess your application, analysis, and critical thinking skills in relation to the concepts you learn in the course. Three assignment is required for this course. You can access it here.
- All assignment scores will total up to 100 points.
- Your assignment will be graded by a Study.com instructor.
- The instructor will provide a graded rubric for you along with feedback on what you did well and what could be improved.
- If you are unsatisfied with your score, you will be able to revise and resubmit your assignment twice. You are free to resubmit an assignment within two weeks of your most recent exam attempt or at any point if you have an active college accelerator membership.
Proctored Final Exam
The proctored final exam is a cumulative test designed to ensure that you've mastered the material in the course.
- You'll earn points equivalent to the percentage grade you receive on your proctored final. (So if you earn 90% on the final, that's 90 points toward your final grade.)
- If you're unsatisfied with your score on the exam, you'll be eligible to retake the exam after a 3-day waiting period.
- You can only retake the exam twice, so be sure to use your study guide and fully prepare yourself before you take the exam again.
- You may use the formula sheet provided in the 'Studying for Accounting 302' chapter.
Items Allowed on Study.com Proctored Exam for Accounting 302:
- A non-graphing, scientific calculator
- Blank scratch paper
- Pen or pencil
- Formula sheet provided in the 'Studying for Accounting 302' chapter
Items NOT Allowed on Study.com Proctored Exam for Accounting 302:
- Graphing calculators
- Office programs, web browsers, or any programs other than Software Secure (including Study.com lessons)
- Textbooks (digital or physical)
- Mobile phones, headphones, speakers, TVs, radios
- Notebooks or notes
Upon completion of this course, you will be able to:
- Compare types of businesses, such as partnerships, corporations and others
- Break down major accounting principles, such as the accounting cycle
- Apply the accounting equation and evaluate return on equity
- Compile balance sheets, income statements and statements of cash flows
- Analyze financial documentation
- Evaluate methods for calculating inventory
- Appraise corporate accounting practices
- Differentiate adjusted and closing trial balances and more
- Illustrate how businesses use rations to create financial forecasts
There are no prerequisites for this course, but many students choose to complete Accounting 101: Financial Accounting prior to Advanced Accounting.
Accounting 302 consists of short video lessons that are organized into topical chapters. Each video is approximately 5-10 minutes in length and comes with a quick quiz to help you measure your learning. At the end of each chapter, you can complete a chapter test to see if you're ready to move on or have some material to review. Once you've completed the entire course, take the practice test to see if you're ready to earn credit. Use the study tools in the course to prepare for your final exam.
The course is completely self-paced. Watch lessons on your schedule whenever and wherever you want. When you're ready, take the final exam.
How Credit Recommendations Work
This course has been evaluated and recommended by both ACE and NCCRS for 3 semester hours in the upper division baccalaureate degree category. To apply for transfer credit, follow these steps:
- If you already have a school in mind, check with the registrar to see if the school will grant credit for courses recommended by either ACE or NCCRS.
- Complete Accounting 302 by watching video lessons and taking short quizzes.
- Take the Accounting 302 final exam directly on the Study.com site.
- Request a transcript to be sent to the accredited school of your choice!
- Check out this page for more information on Study.com's credit-recommended courses.
|Business Ownership Types||Compare types of businesses including partnerships, corporations and others.|
|Key Accounting Concepts||Explain GAAP, the accounting cycle and other major accounting principles.|
|Journals & Ledgers in Accounting||Develop and maintain ledgers and journals.|
|Accounting Equations & Formulas||Integrate the accounting equation and calculate return on equity.|
|Financial Statements, Balance Sheets & Income Statements||Prepare balance sheets, income statements, statements of cash flows and more.|
|Analyzing Financial Statements||Analyze financial documentation.|
|Financial Statement Ratios||Calculate debt, efficiency and leverage ratios in financial statements.|
|Accounting for Inventory||Evaluate methods for calculating inventory.|
|Accounting for Depreciation||Differentiate between methodologies for accounting depreciation.|
|Accounting for Compensation, Taxes & Liabilities||Assess sales commissions, taxes, and different types of liabilities.|
|Adjustments & Closing Entries||Differentiate adjusted and closing trial balances and more.|
|Corporate Accounting||Appraise corporate accounting practices.|
|Departmentalized Accounting||Break down procedures for departmentalized accounting.|
|Taxation for Corporations||Analyze the types of taxation that apply to corporate entities.|
|Business & Financial Forecasting||Illustrate how businesses use ratios to create financial forecasts.|
Learn more about the College Accelerator Plan
Confirm College Accelerator Upgrade?
- Unlimited access to all video lessons
- Lesson Transcripts
- Tech support
- Practice quizzes & tests
- Tools for tracking progress
- Personalized coaching
- Access to instructors
- Certificates of Completion
- Create Custom Courses
- Earn college credit
- Take two exams per month
- Finish official exams remotely
- Learn more
By upgrading now, you will immediately have access to all features associated with your new plan. Because the change is in the middle of your billing cycle, your next charge will include the prorated amount for the rest of this month. For more info check our FAQ's.
What to Expect For the Exam
This Study.com course has been evaluated and recommended for college credit. Once you've completed this course, you can take the proctored final exam and potentially earn credit. Follow the steps below to take the exam.
Before taking the exam, all of the following requirements must be met:
|A College Accelerator Study.com membership.|
|Completed the entire Accounting 302: Advanced Accounting course and achieved 100% Course Progress.|
|Not attempted to take this exam within the last three days.|
|Have available proctored exams in this month of membership.|
|Complete the exam readiness quiz.|
Please complete all of the pre-requirements in the Pre-Exam Checklist in order to take the exam.
Exam Process Details
1. Register For Exam
Registering for the exam is simple. First, be sure you meet the system requirements. Next, you'll need to agree to the academic integrity policy. Then just confirm your name and the exam name, and you're ready to go!
2. Download Software Secure
You'll receive an unique access code. Please write this down — you'll need it to take the exam. Then download Software Secure and follow the installation instructions.
3. Take Exam
The exam contains 50 - 100 multiple choice questions. You will have two hours to complete the exam, so don't start until you're sure you can complete the entire thing. And remember to pace yourself!
4. Get Exam Results
We will send you an email with your official exam results within 1 to 2 weeks.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Research Schools, Degrees & Careers
Get the unbiased info you need to find the right school.
Browse Articles By Category
Browse an area of study or degree level.
- Biological and Biomedical Sciences
- Communications and Journalism
- Computer Sciences
- Culinary Arts and Personal Services
- Liberal Arts and Humanities
- Mechanic and Repair Technologies
- Medical and Health Professions
- Physical Sciences
- Transportation and Distribution
- Visual and Performing Arts
- 8 Colleges and Universities Offering Free Accounting Courses Online
- What Can I Do with a Bachelor's Degree in Accounting?
- Top University in Sacramento for an Accounting Degree
- Top University in Baltimore for Accounting Degrees
- Top University in Philadelphia for Accounting Degrees
- Accounting Degree: Top Ranked Accounting College - Tulsa, OK
- Colleges with Project Accounting Courses and Programs: How to Choose
- Top College in Washington, DC, for Accounting Courses
- Associate of Accounting: Accounting Degree Overview
- Top University with Accounting and Finance Degrees - Portland, OR
- Answers and detailed explanations to each question
- Video lessons to explain complicated concepts
Explore our library of over 70,000 lessons
- College Courses
- High School Courses
- Other Courses