Course Description

This introductory course covers fundamental principles and procedures of financial accounting. It is designed to meet the needs of business students as well as those wishing to concentrate on accounting. Emphasis is on developing the technical procedures of the accounting cycle, including journalizing, posting, adjusting entries, closing procedures, and preparing the four financial statements (i.e., balance sheet, income statement, statement of cash flow, and statement of stockholders' equity).

Learner Outcomes

Upon the successful completion of this course, students will be able to:

  • Prepare and demonstrate the four key financial statements: balance sheet, income statement, statement of cash flow, and statement of stockholders’ equity
  • Analyze transactions
  • Describe concept and adjusting processes
  • Complete the accounting cycle
  • Identify and explain accounting systems, internal controls, and special journals
  • Discuss accounting for merchandising businesses
  • Summarize cash handling rules
  • Describe receivables and temporary investments
  • Calculate inventories


Completion of the UCSB PaCE Professional Accounting Certification Program does not result in CPA licensure.  While courses in this program may count toward the educational requirements for individual states' boards of accountancy, completion of this program will not, in itself, fulfill the education, professional experience or examination requirements to qualify for CPA licensure. For more information about the requirements for the CPA Licensure, students should consult the State Board of Accountancy for the State or Jurisdiction in which they are interested in practicing. 
Classes are offered according to the schedule on the respective Certificate or Program Page. Please click on the Request Information below to be promptly notified when enrollment opens.