Foundations of Financial Accounting

Course Objectives

• Review the structure of the four major financial statements and their importance.
• Prepare simple financial statements using accounting equation format.
• Explain the accrual accounting framework.
• Apply transactions and adjustments via the accounting process.
• Describe the debit/credit format and the need for closing entries.
• Identify financial statements in 10-K reports and their applicable metrics.
• Examine the ongoing accounting challenges and options faced by organizations.

Method of Participation

To complete this program successfully and claim credit, participants must follow these steps:

• Read the educational objectives provided on the course summary page.
• Attend the sessions or watch all the video lectures for this course (if applicable).
• Read any course materials and complete any required activities.
• Complete the course evaluation and post-test via your dashboard on the Association website. Successful completion of a given activity's post-test requires a minimum 75% passing score prior to claiming CME credit, with three attempts allowed.
• CME certificates will be available for printing after claiming CME credit.
• Estimated time for course completion is equivalent to the CME credit hours.

Key Dates

Original Course Release Date: December 20, 2016

Course Review Date: December 20, 2019 (Reviewed by Pamela Trafford)

Course Expiration Date: December 20, 2022

Access to Course Expires: 365 days from purchase date of course

Accreditation

The American Association for Physician Leadership® is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing education for physicians.

Designation
The American Association for Physician Leadership® designates this enduring material for a maximum of 5 AMA PRA Category 1 Credit(s) ™. Physicians should claim only credit commensurate with the extent of their participation in the activity.