Accounting Fundamentals
Demand
for accounting professionals currently exceeds supply. If you're interested in
increasing your financial awareness and accountability while also gaining a
marketable skill, this course is for you. You'll learn the basics of
double-entry bookkeeping, while also learning how to analyze and record
financial transactions, as well as prepare various financial reports at the end
of the fiscal period. Accounts receivable, accounts payable, payroll procedures,
sales taxes, and various common banking activities will be discussed. We'll
cover all the bases, from writing checks to preparing an income statement and
closing out accounts at the end of each fiscal period. Suitable for either a
small business or an individual household, this course is sure to increase
financial awareness and accountability.
To enroll in this course, click the Enroll Now button below:
Requirements:
Internet access, E-mail, and the Microsoft Internet Explorer or Mozilla Firefox Web browser, Acrobat Reader, and access to a calculator or adding machine, and a printer.
Syllabus:
All courses run for six weeks, with a two-week grace period at the end. Two
lessons are released each week for the six-week duration of the course. You do
not have to be present when the lesson is released, but you must complete each
lesson within two weeks of its release.
A new section of each course starts on the second or third Wednesday of each
month. If enrolling in a series of two or more courses, please be sure to space
the start date for each course at least two months apart.
| Week One |
| Wednesday - Lesson 01 |
| Welcome to Accounting Fundamentals! In this first
lesson, you'll learn all about account classifications, debits, credits,
and T accounts. You'll learn the difference between a liability and an
asset, and you'll find out how to determine an owner’s equity. |
| Friday - Lesson 02 |
| Here's where you'll begin your hands-on accounting
practice: You'll start by creating an imaginary company for which you'll
be the accountant. You'll learn how to analyze your company's
transactions to determine which amounts go into which accounts, then
you'll create your company's own General Ledger forms and post a few
transactions into those accounts. You'll also prepare a Balance Sheet to
prove your accounting equations. |
| Week Two |
| Wednesday - Lesson 03 |
| Now that you have an understanding of the functions
of the General Ledger, you're ready to move on to the next phase of
recording transactions: the Journal. In this lesson, you'll learn how to
enter transactions into an 11-column journal and then post or transfer
those amounts into appropriate General Ledger accounts. |
| Friday - Lesson 04 |
| In this lesson, you'll learn all about Accounts
Payable--money that you owe your vendors and suppliers. You'll practice
journalizing cash purchases and purchases on account, and you'll get
hands-on practice transferring those purchases to their corresponding
Accounts Payable Ledger accounts. |
| Week Three |
| Wednesday - Lesson 05 |
| In this lesson, you'll learn about Accounts
Receivable, which is another name for money owed to your company by its
customers. You'll learn how to journalize and post those sales on
account, how to enter charge sales into the journal, and how to transfer
the information into an Accounts Receivable Ledger. |
| Friday - Lesson 06 |
| It's payday! This lesson will teach you how to
determine gross pay, deductions, and net pay. You'll learn how to
prepare a payroll, write payroll checks, and how to prepare and maintain
accurate payroll records. |
| Week Four |
| Wednesday - Lesson 07 |
| In this lesson, you'll learn all about banks and
banking services: You'll learn the proper way to write checks, make out
deposit tickets, and reconcile your company's checking account with the
bank statement--skills you'll find valuable in both your business and
personal life! |
| Friday - Lesson 08 |
| This lesson will teach you how to prepare a Schedule
of Accounts Payable and a Schedule of Accounts Receivable. These reports
can be used to compare the amount of money your business owes its
creditors with the amount of money your customers owe your business. |
| Week Five |
| Wednesday - Lesson 09 |
| In this lesson, you'll prepare a worksheet showing
the net income or net loss for the fiscal period. The worksheet will
show all income and expenses for the fiscal period as well as the
assets, liabilities, and owner’s equity account balances. |
| Friday - Lesson 10 |
| In this lesson, you will learn how to prepare various
reports that are vital to the well-being of your company. You'll learn
how these reports can be used to make sound financial decisions in the
next fiscal period. You will discover how to put together an Owner’s
Equity Statement, an Income Statement, and a Distribution of Net Income. |
| Week Six |
| Wednesday - Lesson 11 |
| In this lesson, you'll prepare for the end of the
fiscal period by adjusting your asset account balances to accurately
reflect the assets remaining at the end of the year. You will also find
out how to journalize and post adjusting and closing entries to bring
your company's General Ledger up to date. |
| Friday - Lesson 12 |
| In our final lesson, we will prepare a Post Closing Trial Balance report to ensure that all of our debits and credits in the General Ledger balance out in preparation for the new fiscal period. |
To enroll in this course, click the Enroll Now button below:
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