Accounting

Program Outline

This outline covers all four semesters of your degree program. You will receive credit for previous college coursework if you meet Penn Foster College standards. If you wish to receive credit for previous coursework, contact the college you attended and ask that your official transcripts be forwarded to Penn Foster College for evaluation. All previous college work must have been completed with a grade of "C" or better, and as much as 75% of the required credits may be transferred. We will also credit your tuition for all the courses that are acceptable.

Upon completing your online basic skills assessments, your first course will be sent immediately. Other courses will follow as you complete your exams, so that you will always have training materials to work with.

Computer Specifications
You will need access to a Microsoft® Windows®-based computer running Windows® XP or later, Microsoft® Office 2010, and high-speed Internet in order to complete your program with Penn Foster.

Online Library and Librarian
Students at Penn Foster College have access to an online library during their college studies. Students can use the library to do the required course research or for general reference and links to valuable resources. The library contains helpful research assistance, articles, databases, books, and Web links. A librarian is available to answer questions on general research-related topics via email and will assist students in research activities.

SEMESTER ONE

Basic Skills Assessment All degree applicants are required to complete two Basic Skills Assessments, one in reading and one in math, to determine the level of readiness for beginning their selected program. Additional studies may be required. BUS100 – Business Orientation (1 credit) Introduction to distance learning; study skills and techniques; reading books and study guides; reviewing for examinations. Four basic life goals; individual life goals and steps needed to fulfill them; similarities between personal financial goals and business goals; determining personal financial goals; setting up a budget; researching, planning, starting up, and maintaining a business. ENG103 – Information Literacy (1 credit) Teaches students to become effective in finding and utilizing information at libraries and other information centers, and through electronic resources available in libraries and on the Web. BUS101 – Introduction to Business (3 credits) Business in a global environment; starting and growing a business; human resources; marketing; information and technology; finances. MAT106 – Mathematics for Business and Finance (3 credits) Percentages; discounts; interest; present worth; sinking funds; installment buying; pricing; depreciation; investments; insurance; use of symbols and their applications, equations and formulas; importance of statistics. (Required textbook provided with the course.) ACC111 – Financial Accounting (3 credits) Analyzing transactions; completing the accounting cycle; merchandising business; inventories, assets, and liabilities; corporations, stocks, bonds, and cash flow. (Required textbook provided with the course.) Arts & Humanities Elective (3 credits) (choose one): HUM102 Art Appreciation Artistic media; historical periods and artistic movements; roles of the artist and the viewer; art criticism. HUM104 Music Appreciation Appreciating music; roles of composer and listener; principles of music theory and instrumentation; historical periods; varying styles of music. ENG115 Introduction to Literature Reading and analysis of the main genres of literature; poetry, fiction and drama; themes and forms of literature. Proctored Examination*

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SEMESTER TWO

CSC104 – Computer Applications (3 credits)
Computer and Internet basics; computer hardware and software; digital electronics and file management; introduction to Windows®; PC applications in word processing, spreadsheets, and presentation software.

ACC112 – Managerial Accounting (3 credits)
Introduction to managerial accounting; analyses: C-V-P and management; budgeting and performance evaluation; decentralized operations; differential analysis and product pricing; and capital investment analysis, and cost activities.

ENG100 – English Composition (3 credits)
Writing difficulties; grammar review (sentences, parts of speech, punctuation marks, and paragraphs); defining unfamiliar terms; finding ideas through free writing and brainstorming; organizing ideas; principles of revising and editing; figures of speech; writing for the senses; getting the reader's attention; descriptive writing; first-person narratives; reflective and persuasive essays; thesis statements. (Required textbooks provided with the course.)

BUS110 – Principles of Management (3 credits)
The business environment; planning; organizing; leading and controlling.

HUM106 – Interpersonal Communication (1 credit)
Developing more effective personal communication skills to increase chances for professional success; increasing skills levels involving the use and selection of words, gestures, tone of voice, facial expressions, listening skills, as well as overall physical appearance.

BUS121 – Economics I (3 credits)
Macroeconomics; the cost of living; monetary systems; international factors; short run economic fluctuations.

Proctored Examination*

SEMESTER THREE

ACC201 – Intermediate Accounting I (3 credits)
Computing earnings per share; lease transactions; income tax accounting; cash flow information; pension and benefit information; financial statement analysis.

FIN101 – Financial Management (3 credits)
Financial assets; investing in long-term assets; capital structure and dividend policy; financial planning and working capital management.

ENG121 – Business and Technical Writing (3 credits)
Writing styles; ABC method of organizing material; grammar (parts of speech, active and passive voice, complete sentences vs. sentence fragments; parallel construction); using action verbs; constructing paragraphs; writing memos, business letters, and emails; organizing material; conducting research; documenting sources; outlining; providing illustrations; writing reports, proposals, descriptions, instructions, articles, and manuals.

MAT120 – College Algebra (3 credits)
This course introduces students to basic algebraic concepts. Topics covered include the real number system, exponents, scientific notation, equations of lines, graphing, inequalities, absolute values, polynomials, factoring polynomials, and rational expressions.

ACC202 – Intermediate Accounting II (3 credits)
Inventories; investments; intangible assets; current, contingent, and estimated liabilities; premium and discount on long-term debt; stockholder’s equity.

Science Elective (3 credits) (choose one):

SCI120 Introduction to Biology
An introductory course that explains the origin of life and the relationships between all living things. It describes how a significant number of organisms are structured and how they work, in order to enable students to discuss intelligently the various forms of life and their processes.

SCI140 Nutrition
Personal decision making about nutrition; nutrition science; water; exercise; human growth and aging; safety of the food supply; the global view.  

SCI110 Earth Science 
Surveys a broad range of topics within the fields of geology, meteorology, oceanography, and astronomy. 

Proctored Examination*

SEMESTER FOUR

ACC210 – Cost Accounting (3 credits)
Timekeeping and payroll procedures; setting overhead rates; accounting for spoiled and defective goods; development of cost analyses; process cost accounting; job-order cost accounting.

MAT210– Business Statistics (3 credits)
Presentation of data; frequency distribution; averages; dispersion and skewness; index numbers; time series analysis; correlation and forecasting; the theory of probability and statistical inference.

BUS213 – Business Law 1 (3 credits)
American court practice and procedure; torts; employment law; international law; environmental law; contract law.

ACC211 – Computer Applications in Accounting (3 credits)
Builds on concepts learned in Financial and Managerial Accounting, and covers typical accounting software tools such as Microsoft Excel,® QuickBooks,® and Peachtree Accounting. Combines real-world accounting systems and examples with computer-based solutions. The course is a blend of problem solving, reading, case studies, and computer applications to problems encountered in today’s accounting environment.

Business Elective (3 credits) (choose one):

BUS214 – Business Law II
Sales; consumer law; commercial paper; property law; agency relationships; partnerships, organizations, and limited liability companies.

BUS122 – Economics II
Microeconomics; supply and demand; the role of government; tax system design; labor markets.

Social Science Elective (3 credits) (choose one):

SSC130 – Essentials of Psychology
Biology and behavior; consciousness; memory; thought and language; intelligence; personality and gender; stress; community influences.

SSC105 – Readings in World Civilization
Importance of the study of history; major events of the sixteenth through twentieth centuries; casual relationships between events and trends.

SSC150 – Foundations of Political Science
The normative questions of politics; logical and empirical analysis of political questions.

Proctored Examination*

 

We reserve the right to change program content and materials when it becomes necessary.

* As a degree candidate, you will take a proctored examination at the end of each semester on selected courses within that semester. We make it easy because you pick the location and the person you want to supervise the exam, as long as Penn Foster College's established policy and qualifications are met. Complete information packets with procedures will be provided well in advance, before completion of final semester coursework.

Note: Advanced standing student shipments may vary from the above schedule.

A High School Diploma or GED is required to enroll in this degree program. Although this outline covers all four semesters of the Accounting Degree Program, you receive lesson materials for each semester as you enroll.

Quickbooks is a registered trademark of Intuit, Inc. in the United States of America and/or other juirisdictions.

Microsoft Office, Windows, and Windows Vista are trademarks of Microsoft Corporation registered in the United States of America and/or other jurisdictions.