Accounting–Financial Accounting Total-Beginners to Advanced

What you’ll learn

  • An Introduction to Accounting, The Double Entry Accounting System, & Recording Transactions using Debits and Credits
  • Analyze, use, and create from scratch financial statements including a balance sheet, income statement, statement of equity, and statement of cash flows
  • Use the concepts of the double entry accounting system
  • Record financial transactions using the accounting equation
  • Record financial transactions using debits and credits
  • Learn when and how to use accounting methods such a the accrual method and cash method
  • Apply the concepts related to the revenue recognition principle and the matching principle to recording transactions and reading financial statements
  • Record period end adjusting entries and be able to explain why adjusting entries are necessary is a well designed accounting system
  • Record merchandising transactions. Record transactions involving inventory
  • Track inventory using cost flow methods like FIFO, LIFO, and Weighted Average Methods
  • Create and use subsidiary ledgers like accounts receivable by customer and accounts payable by vendor subsidiary ledgers
  • Learn how to create and use special journals and how they can be part of an accounting system
  • Construct and interpret a bank reconciliation, one of the most critical internal controls
  • Be able to implement internal controls over cash
  • Value account receivable and record bad debt expense using either the allowance method or direct write off method
  • Calculate depreciation using different depreciation methods including straight line depreciation, double declining balance, & units of production depreciation
  • Record payroll transactions and calculate net pay and income tax withholding
  • Record transaction specific to partnerships including methods to allocate net income to the partners, adding a new partner, and a partner leaving or selling a partnership interest
  • Record transaction specific to a corporation including selling capital stock, selling preferred stock, buying treasury stock, issuing cash dividends, and issuing stock dividends
  • Record transactions related to the issuance of bonds
  • Record transactions related to notes payable. Learn to create an amortization table.
  • Construct a statement of cash flows using the direct method and indirect method. We go into more detail about best practices to construct a statement of cash flows than any other course we have seen

Who this course is for:

  • Aspiring accounting students who have an interest in the topic
  • Accounting professionals
  • Anyone who whats to learn accounting
  • Accounting and business students who want a reference source to the material they can actually keep, unlike most digital textbooks used in most accounting programs these days
  • Business professional who want a comprehensive reference to standard financial accounting topics they can refer to
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