Liabilities and Equity in Accounting
Master liability and equity accounts’ impact on balance sheets in this comprehensive course. Learn about various types of liabilities and equity, including payroll and sales tax. Gain a deep understanding of accounting equations and organization’s financial position. Recommended prerequisites: Intuit Bookkeeping Professional Certificate courses 1 and 2.
In this third course, you will learn about liability and equity accounts and its effect on the balance sheet. If you have mastered bookkeeping basics and understand accounting assets, you are ready to jump into Liabilities and Equity in Accounting. You will explore the various types of liability, including: current and long term, payroll, and sales tax. Additionally, you will learn about the equity portion of the accounting equation and how to account for changes in owner’s equity.
By the end of this course, you will be able to:
-Describe the three main characteristics of liabilities.
-Demonstrate an understanding of the basic payroll accounting functions and tasks.
-Compare and contrast the different types of equity
-Use the accounting equation to describe the financial position of an organization.
Courses 1 and 2 in the Intuit Bookkeeping Professional Certificate, or the equivalent, are recommended prerequisites for this course.
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