Overview

Master the essential skills of accounting with our Accounting Fundamentals course. Gain a deep understanding of financial statements, transaction recording, and the preparation of key financial documents. This course is perfect for anyone looking to build a strong foundation in accounting, whether for personal growth or professional development in finance.

What You’ll Learn

The importance and role of financial statements.
Key financial terms and concepts.
How to record transactions and their impact on financial statements.
Preparation of income statements, balance sheets, and cash flow statements.

Who Should Take This Course?

Ideal for finance professionals, students, and anyone interested in understanding the basics of accounting. This course is also an excellent refresher for those preparing for more advanced financial modeling and valuation courses.

Key Features

Interactive Learning: Engage with hands-on activities and exercises.
Self-Paced: Learn at your own speed, with approximately 5 hours of content.
Certificate: Earn a certificate upon completion to validate your skills.

What Students Say

Students praise the course for its simplicity, practicality, and engaging format, making complex concepts easy to understand and apply.

Course Outline

Module 1: Introduction to Accounting

Overview of Accounting: Definition and importance
Types of Business Organizations: Proprietorships, partnerships, and corporations
Accounting Principles: Generally Accepted Accounting Principles (GAAP)

Module 2: Accounting Fundamentals

The Accounting Equation: Assets = Liabilities + Equity
Double-Entry Accounting: Concept and purpose
Debits and Credits: Understanding and application
Chart of Accounts: Structure and usage

Module 3: The Accounting Cycle

Recording Transactions: Source documents and journal entries
Posting to Ledgers: General ledger and subsidiary ledgers
Trial Balance: Preparation and error correction
Adjusting Entries: Accruals and deferrals

Module 4: Financial Statements

Income Statement: Revenue, expenses, net income
Balance Sheet: Assets, liabilities, equity
Cash Flow Statement: Operating, investing, and financing activities
Statement of Changes in Equity: Owner’s equity changes

Module 5: Bookkeeping Systems

Accounts Receivable and Payable: Management and recording
Inventory Accounting: Methods and valuation
Payroll Accounting: Calculations and compliance
Bank Reconciliation: Process and importance

Module 6: Advanced Topics

Cash vs. Accrual Accounting: Differences and applications
Sales Taxes: Calculation and reporting
Owner’s Contributions and Withdrawals: Recording and impact
Financial Statement Analysis: Basic techniques and ratios

Learning Resources

Video Tutorials: Step-by-step guides
Hands-on Exercises: Practical application of concepts
Quizzes: Knowledge checks after each module
Instructor Support: Available for questions and guidance

Final Project

Objective: Apply all learned concepts to maintain a complete set of books for a hypothetical business
Components: Transactions recording, financial statement preparation, and analysis

This course outline provides a structured approach to learning accounting fundamentals, suitable for beginners and those seeking to refresh their knowledge in accounting principles and practices.

Accounting Fundamentals Course