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Financial Accounting One: Recording Accounting Transactions

£28.86

This course includes lifetime access so you can complete it at your own speed. This course is designed for those interested to learn the basics of financial accounting; the core concepts, foundational accounting skills including accounting terms, double entry accounting system, and recording transactions using both the accounting equation and debits and credits. Benefits of taking this course include: Unlimited and lifetime access to the course Learn the course at your own pace Course can be accessed on any platform 24/7 Customer support

SKU: 267401 Category:

Description

Accounting and finance_Accounting

Description

This course will cover accounting core concepts, foundational accounting skills needed for all levels of accounting including the accounting terms, the double entry accounting system, and recording transactions using both the accounting equation and debits and credits. These are the accounting fundamentals which most accounting courses spend far too little time on. The better we understand these accounting foundation topics, the better we will do in all accounting concepts.

Like practicing catch or going over those musical scales, practicing the accounting fundamentals is time well spent for beginners as well as experienced accountants. We are never too smart to practice accounting fundamentals. This course will thoroughly cover the fundamentals and will provide a foundation for learning concepts that limit the likelihood of learning rules that do not always apply.

This course will provide much more structure to the journal entry process than most courses, including a detailed step by step process for thinking about how to construct financial transactions. This process will eliminate the problem of getting stuck and not knowing how to move forward. The process will also help us understand the transactions we are recording and eliminate the problem of learning concepts that do not apply in all circumstances.

The Financial Accounting One: Recording Accounting Transactions will cover the following topics:

Section 1 – Introduction

  • Course Overview

Section 2 – Why Learn Accounting

  • Why Learn Accounting
  • Discussion Question

Section 3 – Accounting Objectives, Accounting Equation, And Ethics

  • Accounting Objectives, Accounting Equation, And Ethics
  • Accounting Objectives
  • Accounting Equation
  • Ethic And Profession
  • Discussion Question

Section 4 – Financial Statements

  • Financial Statements
  • Balance Sheet
  • Income Statement
  • Statement Of Owner’s Equity
  • Balance Sheet And Income Statement Relationship
  • Short Calculation Problems Accounting Equation
  • Discussion Question

Section 5 – Accrual Method, Cash Method, Revenue And Expense Recognition

  • Accrual Method Vs Cash Method
  • Revenue Recognition Principle
  • Cash Method Vs Accrual Method
  • Short Calculation Problems – Part 1
  • Discussion Question

Section 6 – Financial Transaction Rules And Thought Process

  • Financial Transaction Rules And Thought Process
  • Financial Transaction Rules
  • Financial Transaction Thought Process
  • Short Calculation Test Question Accounting Equation
  • Discussion Question

Section 7 – Recording Transactions Using Accounting Equation

  • Recording Transactions Using Accounting Equation
  • Cash Transaction – Accounting Equation
  • Worksheet – Accounting Equation Cash
  • Accounts Receivable Transactions Accounting Equation
  • Worksheet 3 – Accounting Equation Account Payable
  • Short Calculation Test Questions Accounting Equation
  • Discuss Question

Section 8 – Debits And Credits Defined

  • Debits And Credits Defined
  • Debits And Credits
  • Rules For Using Debits And Credits
  • Discussion Question

Section 9 – Debit And Credit Rules – Thought Process

  • Debit And Credit Rules – Thought Process
  • Journal Entry Thought Process
  • Trial Balance
  • Discussion Question

Section 10 – Record Cash Transactions Using Debits And Credits

  • Record Cash Transactions Using Debits And Credits
  • Cash Journal Entries With Cash
  • Worksheet Prob 4 – Debits And Credits Cash
  • Discussion Question

Section 11 – Record Accounts Receivable Transactions Using Debits And Credits

  • Accounts Receivable Journal Entries
  • Worksheet Prob 5 – Debits And Credits Accounts Receivable
  • Discussion Question

Section 12 – Record Accounts Payable Transactions Using Debits And Credits

  • Record Accounts Payable Transactions Using Debits And Credits
  • Accounts Payable Journal Entries
  • Worksheet Prob 6 – Debits And Credits Accounts Payable
  • Short Calculation Test Questions Debits And Credits
  • Discussion Question

Section 13 – Record Transactions To General Ledger

  • General Ledger
  • Worksheet General Leger Cash
  • Worksheet Prob 8 – General Ledger Accounts Receivable
  • Worksheet Prob 8 – General Ledger Accounts Payable
  • Multiple Choice 1 – Questions Accounting Terms Accounting Equation
  • Discussion Questions

Section 14 – Comprehensive Problem

  • Comprehensive Problem
  • Comprehensive Problem Part 1
  • Comprehensive Problem Part 2