- Course type: Self-paced
- Available Lessons: 133
- Average Lesson Length: 8 min
Eligible for Certificate:
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1What Is Accounting? - Purpose, Importance & Relationship to Business
Course SummaryIn this comprehensive study guide, you can find detailed overviews of basic financial accounting practices, from the accounting cycles to financial statement analysis. These lessons provide one of the most effective ways you can prepare for the UExcel Financial Accounting exam.
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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
About This Course
Using this course, you can be fully prepared to complete the UExcel Financial Accounting exam in two weeks or less. This self-paced course allows you to study whenever it's most convenient for your schedule. With 24/7 accessibility form any device and expert instructors guiding you through each topic, this guide is an efficient way you can review all of the topics found on this exam and earn three transferable college credits.
Concepts you'll study in this course include the basic principles of accounting and the accounting cycle; financial statement roles and analysis; inventory management; internal control systems; and the operating cycle. You can also find lessons focusing on receivables, liabilities, long-term assets, equity and cash flow statements. Each lesson details accounting processes and offers key term definitions and examples so you fully understand each concept.
Syllabus & Course Information
This course is designed to help you master the objectives outlined below. Once you finish this study guide, take the final exam to measure your knowledge and determine your readiness in taking the UExcel Financial Accounting exam.
- Understand the purpose of accounting, generally accepted accounting principles, ethical accounting and technology in accounting
- Interpret balance sheets, income statements and cash flow statements, and understand how to prepare different financial statements and about the auditing process
- Discover debits, credits, journal entries, the trial balance and how to determine a company's performance based on financial statement ratios
- Explain internal controls, safeguards and bank reconciliation
- Study accounts receivable, revenue recognition, the allowance method, notes receivable and disposing of receivables
- Define long-term operating assets, plant assets, the cost principle, acquisition of property, computing depreciation, natural resource assets and accounting for intangible assets
- Break down loans, equity investments, raising equity financing, corporations, stockholder's equity, common and preferred stock, accounting for stock and retained earnings
- Distinguish the purpose and elements of financial statement analysis, standards for comparison, horizontal analysis, vertical analysis and financial ratio analysis
- Interpret financial ratios for companies, efficiency ratios, leverage ratios and issues with financial statement analysis
This is an introductory course. No prerequisites are required.
This course contains 13 individual chapters comprised of 122 lessons in video or text formats. Self-assessment quizzes in each lesson are handy tools you can use to measure what you have learned about each topic before you move on to the next. A final exam shows how much you have retained and whether you are ready to sit for the UExcel Financial Accounting exam.
UExcel Financial Accounting Exam Information
This exam measures your knowledge of the same topics you would explore in a lower-level accounting course. You can apply the credits earned from this exam to a degree in accounting or finance.
- Number of Questions: 120 questions
- Question Type: Mostly multiple-choice
- Time Limit: 2 hours
- Number of Credits: 3 credits
- Exam Cost: $110
UExcel Financial Accounting Exam Breakdown
|UExcel Exam Concept||Percent of the UExcel Exam||Approximate Number of Questions||Chapter Lessons|
|Financial Accounting and Reporting||15%||18 questions||25|
|Accounting Information Systems and Internal Controls||25%||30 questions||23|
|Operating Activities||25%||30 questions||28|
|Investing and Financing Activities||25%||30 questions||32|
|Other Dimensions of Financial Reporting||10%||12 questions||14|
Earn UExcel Credit
By passing this exam, you can quickly earn three transferable college credits used to satisfy introductory course requirements for an undergraduate degree in accounting or finance at Excelsior College. You could also transfer these credits to an institution that accepts UExcel exam credits. Taking this exam allows you to earn your degree more quickly and save money on tuition costs. This guide is simply one of the fastest ways you can prepare yourself for the UExcel Financial Accounting exam.
Study Schedule for the UExcel Financial Accounting Exam
This course consists of approximately 16 hours of instruction. This self-paced study guide allows you to study on your own time, whenever it's convenient for you. Use the time table below to determine how much study time you will need to fully prepare for this exam.
|Study Frequency||When You'll Be Ready for the Exam|
|3 hours a day; 3 days a week||less than 2 weeks|
|2 hours a day; 3 days a week||less than 3 weeks|
|1 hour a day; 3 days a week||about 5 weeks|
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