Financial Accounting Part I – Passing the Class

Understand the history of accounting and why it is importantUnderstand the basic accounting processDetermine the normal balances of accounts (debits or credits)Record a journal entry for basic transactionsUnderstand the difference between accrual and cash basis accountingRecord adjusting and closing journal entries at the end of the periodPost journal entries to T accounts or the general ledger. Understand the basic format of the four required financial statements (Income Statement, Statement of Stockholder’s Equity, Balance Sheet, and Cash Flow Statement)Process inventory transactions and calculate the cost of goods sold and ending inventoryPrepare a bank reconciliation of cashDetermine accounts receivables and bad debt expense under multiple methodsDocument the journal entries for capitalized assets, including purchase, depreciation, and sale of the assetsShow moreShow lessAccounting is often referred to as the “language of business.” Whether you are going into management or actually going to be an accountant, you need to be familiar with the basics of accounting. This includes understanding the concepts of debits and credits, assets and liabilities, revenues and expenses, dividends and equity. From an investor’s perspective, the business results are communicated through the financial statements, including the income statement, statement of owner’s equity, balance sheet and statement of cash flow. These are all discussed in this course!    This course is for those students who have not had much (or any) experience in accounting and are looking to enhance their understanding of it, to either help pass a course or to enhance your business career. It is for anyone who may have felt lost in prior accounting courses and wants real life examples and a down to earth explanation, rather than something read word for word out of a textbook. Is this you? Then you are in the right place!  This course is taught by an instructor with over eleven years of training experience, including corporate training, face to face instruction, and online course development. In addition to the lectures and study material common to many other courses, this course also has a downloadable textbook/study note file, along with downloadable Excel templates paired with a lecture walking through the solution once you are done. To test your knowledge of the basic concepts we also have quizzes after each section to make sure you feel comfortable with the topic before moving on to the next one.  At the end of this course, you will have a better understanding of the mechanics of accounting, the concepts, and the goals of accounting in general. You will be able to pass that class!! Let’s get started!Who this course is for:This accounting course is for anyone who wants to learn more about accounting. This course starts at the ground level, with no assumption that you have any prior experience. If you are taking an accounting course and are having trouble understanding the topics this course is for you. If you are looking to enhance your career by understanding more about accounting, this course is for you. This course does not get into the more advanced accounting topics, though I do have other courses for this.