Accounting & Bookkeeping for Beginners
|
|
Enroll today! UniversalClass™ offers many wonderful learning tools to help you get the most out of your online course, including an online portfolio service that manages all your course completions.
|
Course Description
|
Introduction To Financial Accounting and Bookkeeping For Beginners is an introductory course to accounting, finance and bookkeeping designed to give you a great start in the wonderful and profitable field of accounting. Accounting is not an exact science and neither does it follow a random process; lessons are usually built on the previous ones. For this reason, the course is laid out in a systematic format that allows anyone to not only learn the techniques and principles involved, but also get an overall picture of the accounting cycle, step-by-step, through examples, exercises, flowcharts, and diagrams.
We focus extensively on the fundamental accounting concepts as they are laid out by Generally Accepted Accounting Principles (GAAP). The course covers such topics as the accounting equation, the double entry system, debits and credits (a challenging area for newcomers!), the matching principle concept, inventory valuation: First in, First out (FIFO), Last in First out (LIFO), Specific Identification and Weighted Average methods. Depreciation charts explain and show the difference between straight-line depreciation, double declining balance, sum of the year's digits and units of production. Depletion and Amortization are also discussed. We look into assets, liabilities and equity accounts (including contra-asset accounts), T-accounts, prepaid expenses, bank reconciliation, petty cash, posting transactions, adjusting entries, financial statements, closing entries, post-closing trial balance, ratio analysis and much more. An important accountant's worksheet is presented that greatly simplifies the preparation of financial statements. Learn how to prepare and read the statement of Cash Flow to extract meaningful information about a company's financial position. COURSE INCLUDES FULL MOTION VIDEOS AND SOUND REINFORCING KEY ACCOUNTING CONCEPTS.
After successful completion of the course, students will feel very confident about his or her accounting skills and may want to pursue it as a career. The course also allows anyone to analyze their skills and decide whether or not this is the right field for them. The class may also be used as a study guide for those already taking accounting. Students who are struggling with accounting now, will find this to be a strong reinforcement to their current study. They will find this material easier to understand and therefore increase their confidence level.
|
|
Course Lessons
- Job Opportunities In Accounting :
The demand for accounting and accountants in general is very strong. We'll explore the job market and and see where you fit into the picture and what's available to you.- Regulatory Bodies :
It's important to have a general idea on the lawmakers and principles that govern the field. We'll discuss briefly the role and mission of the FASB, AICPA, SEC, IRS and see what they have in common with Generally Accepted Accounting Principles (GAAP).- Accounting Cycle :
Get an overview of the whole accounting cycle, from A to Z through flowcharts and diagrams.- Fundamental Accounting Principles (part 1) :
Extensive discussion: Accounting equation, debits & credits, Cash vs. Accrual, contra accounts, T-accounts, double entry accounting, assets, liabilities & equity accounts, prepaids, bank reconciliation and more. (real examples & exercises).- Fundamental Accounting Principles (part 2) :
From (part 1): Petty cash, Inventory: perpetual vs periodic, Cost of Goods sold, special treatment of office supplies and depreciation. MULTIMEDIA REVIEW! Download a FREE copy of the book "Simple Accounting" which includes additional practice quizzes.- Recording Transactions & Posting To The GL :
Here we seek to understand the purpose and flow of information between the general journal, sales & cash disbursements journal, general ledger and subsidiary ledgers. A close look also at source documents: invoices (& discounts), purchase orders...- Preparing a Trial Balance & Adjusting Entries :
Two important steps are needed before statements can be prepared: Balancing the trial balance and making adjusting entries to bring office supplies, depreciation, inventory, bad debt expense and other accounts up to date. (MULTIMEDIA REVIEW).- Financial Statements :
A close look at the income statement, equity statement, balance sheet and footnote disclosure. Closing entries and a post-closing trial balance are also necessary to close the accounting cycle. (Solid Grid Exercise & MULTIMEDIA REVIEW for reinforcement).
- Understanding The Statement Of Cash Flow :
See and understand exactly where a company's cash goes: Identify cash flow from operating, investing and financing activities and trace ending cash balance reported on the balance sheet. MULTIMEDIA REVIEW.- Ratio Analysis :
The financial statements are meaningless if they can't be measured against the industry and analytical trends. Liquidity, profitability, and leverage are just a few of the questions that ratios answer about a company's financial position.- Starting a home-based bookkeeping business :
Practical advice, tips, ideas and other important legal information for those interested in starting a bookkeeping business now or in the future.- An Introduction to Auditing :
Those exposed to Auditing get a broader view of the Accounting Field and could qualify for higher paying jobs. This FREE introductory lesson looks into Generally Accepted Auditing Standards (GAAS), CPA requirements, auditor-job opportunities and services.
Additional Information
|
