Accounting Courses Online

Accountants are expected to have a bachelor’s degree in accounting from a four-year college or university. Of the 120 semester credits needed for the degree, approximately 30-36 of these credits will be in accounting courses such as financial accounting, cost accounting, income tax, consolidations, auditing, and accounting systems.
Also required within the 120 credits are business courses such as organizational behavior, marketing, business statistics, computer systems, business law, economics, and administrative policy.

Economics and Accounting Test – Code Snmptn 167

Economics and Accounting Test – Code Snmptn 169

Economics and Accounting Test – Code Snmptn 267

Economics and Accounting Test – Code Snmptn 269

Economics and Accounting Test – Code Snmptn 367

Economics and Accounting Test – Code Snmptn 369

Basic Courses

Accounting Principles
There are general rules and concepts that govern the field of accounting. These general rules—referred to as basic accounting principles and guidelines—form the groundwork on which more detailed, complicated, and legalistic accounting rules are based.
For example, the Financial Accounting Standards Board (FASB) uses the basic accounting principles and guidelines as a basis for their own detailed and comprehensive set of accounting rules and standards.

The phrase “generally accepted accounting principles” (or “GAAP”) consists of three important sets of rules: (1) the basic accounting principles and guidelines, (2) the detailed rules and standards issued by FASB and its predecessor the Accounting Principles Board (APB), and (3) the generally accepted industry practices.

If a company distributes its financial statements to the public, it is required to follow generally accepted accounting principles in the preparation of those statements. Further, if a company’s stock is publicly traded, federal law requires the company’s financial statements be audited by independent public accountants.
Both the company’s management and the independent accountants must certify that the financial statements and the related notes to the financial statements have been prepared in accordance with GAAP.

Over the years the generally accepted accounting principles have become more complex because financial transactions have become more complex.