Fundamentals of Accounting
About Course
- Grasp the Core Concepts: Understand the fundamental accounting equation (Assets = Liabilities + Equity) and why it matters.
- Master Double-Entry Bookkeeping: Learn the crucial system of debits and credits used to record every financial transaction.
- Record Transactions with Confidence: Practice identifying, analyzing, and recording common business transactions accurately.
- Navigate Financial Statements: Learn how to prepare and interpret the three key financial statements: the Balance Sheet, Income Statement, and Cash Flow Statement.
- Understand Key Principles: Get introduced to generally accepted accounting principles (GAAP) and ethical considerations in accounting.
Course Content
Fundamentals of Accounting
-
Introduction
-
1. The Accounting Equation
-
Account Type | Debit Effect | Credit Effect
-
Accounting Entries
-
The Profit and Loss Statement:
-
The balance sheet
-
Classification of Balance Sheet Terms:
-
Balance sheet tasks
-
Understanding accounting terminology
-
Accounting Terminology
-
Accounting concepts and principles
-
Accounting Principles
-
Accounting Systems
-
Balance sheets
-
A Profit and Loss (P&L)
-
The trial balance
-
The 10 column worksheet
-
Preparation of reports
-
Prepaid expenses
-
Accrued expenses
-
Accrued revenue
-
Prepaid revenue
-
Depreciation
-
Depreciation Example
-
Reporting Depreciation
-
Preparing the profit and loss summary account
-
The capital account
-
Closing and posting entries
-
example
-
Summary of key learning points for Corporate Management
Student Ratings & Reviews
No Review Yet
