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About Instructor

Grade : 9 - 12

Course Description

Sophia’s Accounting course helps you gain mastery of the fundamental principles and procedures of the modern practice of accounting. In this course, you will gain practical experience with bookkeeping and preparing financial reports within the context of operating a sole proprietorship. You will use a problem solving approach to actively apply key concepts of introductory accounting to realistic case studies.

Topics of Study

  • Origins and Ethics of Accounting
  • Governance
  • Accounting in Practice
  • Account Groups
  • Accounting Cycle
  • Debit and credit
  • Natural balance
  • T-accounts, cash entries
  • T-accounts, accrual entries
  • General journal
  • General ledger
  • Journal entries
  • End of period activities
  • Trial balance
  • Adjusting entries
  • Creating adjusting entries
  • Closing entries
  • Closing process
  • Income statement
  • Preparing income statement
  • Statement of changes in owner’s equity
  • Preparing statement of changes in owner’s equity
  • Balance sheet
  • Merchandising: purchases, sales, discounts, return and allowance
  • Expanded income statement
  • Sales & purchases subsidiary ledgers
  • Merchandising adjusting & closing
  • Preparing a balance sheet
  • Inventory accounting methods
  • FIFO
  • LIFO
  • Weighted average method
  • Inventory cost flow assumptions
  • Merchandising financial statement analysis
  • Long term assets
  • Depreciation
  • Straight line depreciation
  • Accelerated depreciation
  • Financial reporting of long term assets
  • Disposal of plant/fixed assets
  • Accounts payable subsidiary ledgers
  • Accounts receivables subsidiary ledgers
  • Uncollectible accounts
  • Percentage of credit sales, percentage of receivables
  • Aging receivables
  • Current liabilities
  • Short term notes payable
  • Vertical and horizontal analysis
  • Ratio analysis
  • Statement of cash flows
  • Internal controls and reconciliations

Course Features

In Sophia’s Accounting course, you will complete a series of formative and summative assessments comprised of 12 Challenge assessments and 4 Milestone assessments and tied to the following learning outcomes:

  • Identify accounting fundamentals.
  • Analyze financial reporting.
  • Apply principles of accounting for merchandising operations.
  • Analyze advanced accounting topics.


Course Dates

All courses are offered on a rolling enrollment basis. You choose your own start date and have 60 days to complete each course. However, because the courses are self-paced, you can complete them in fewer than 60 days.

Self-Paced, 60 day completion, free 30 day extension available.
ACE Credit Recommendation
4 College Credits



Click here to view the Course Syllabus


Reviews Statistic

3 out of 3
1 Ratings
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3 Stars 1
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1 review for Accounting

  1. 3 out of 5


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Start Date Spring 2017

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