CLEP Financial Accounting Prep

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💰

$93

Exam Cost

⏱️

120 min

Time

🎓

3-6

Credits

✅

~50/80

Passing

What You'll Study

Unit 1: The Accounting Cycle

double-entry bookkeepingjournal entries and T-accountsadjusting entriesclosing entries and trial balance

Unit 2: Assets

accounts receivable and bad debtsinventory valuation (FIFO, LIFO)depreciation methodsintangible assets

Unit 3: Liabilities and Equity

current vs long-term liabilitiesbonds payablestockholders' equityretained earnings and dividends

Unit 4: Income Statement

revenue recognitioncost of goods soldmulti-step income statementearnings per share

Unit 5: Financial Statement Analysis

ratio analysishorizontal/vertical analysisstatement of cash flowsGAAP principles

Free Study Resources

- OpenStax Principles of Financial Accounting (openstax.org/books/principles-financial-accounting): CC BY 4.0 - Khan Academy Accounting (khanacademy.org/economics-finance-domain) - Saylor BUS103 (learn.saylor.org)

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