Learn Basic Fundamental Concepts Of Accounting In 2023

What you'll learn
Grasp the essentials of the accounting equation
Know the difference between a debit and a credit
Learn how to create a balance sheet and income statement
Learn the accounting cycle
Requirements
No prerequisite knowledge is required!
Description
"This isn't your typical accounting course!In this course, I have taught the fundamentals of accounting and developed clever shortcuts and analogies to simplify the learning process. If you're looking for an engaging and straightforward introduction to accounting, this brief course is perfect for you.In just 35 mins, you'll gain a solid understanding of accounting basics. The course includes video lessons where I will explain the concepts and will reinforce your learning through quick quizzes. This course is designed for business owners, business students, managers, or anyone seeking a grasp of fundamental accounting principles. The material is presented in an accessible format, making it insightful even for those who have taken accounting courses before.Here's what you'll learn in this course:- The Accounting Equation (Explained in a way that's easy to understand!)- Balance Sheets- Income Statements- Debits and Credits (And how to distinguish between them!)If you've ever dreaded the idea of delving into accounting, this is the introduction you've been waiting for!Why should you take this course?- You're a business owner, and you want your business to thrive. You recognize that a solid understanding of how the numbers work is essential.- You're a manager who interacts with accounting staff, bookkeepers, owners, and subordinates regularly. You hear accounting terminology daily but desire a deeper understanding of its meaning.- You're a business student. Perhaps you're apprehensive about your first accounting course, or you're currently enrolled in an introductory class, finding the subject matter complex. You're seeking a simple and clear explanation.- You're an accounting student. You feel that you haven't grasped the basics firmly, and you'd like to start from scratch in an easy-to-follow format.Learning Objectives:- Apply the fundamental accounting formula.- Recognize assets, liabilities, and equity.- Explain the connection between the income statement and the balance sheet.- Determine when an account increases with a debit or a credit.- Summarize the purpose of a trial balance.- Differentiate income statement accounts from balance sheet accounts.
Overview
Section 1: Introduction
Lecture 1 Introduction to Accounting
Lecture 2 Financial Transactions and Double Entry Accounting
Lecture 3 Financial Statement, Income Statement and Accounting Principles
Lecture 4 Financial Ratios and Auditing
Lecture 5 Tax Compliance and Budgeting and Forecasting
Lecture 6 Management Accounting and Ethical Considerations
Section 2: Concepts in Accounting
Lecture 7 Fundamental Concepts in Accounting
Lecture 8 What are Debits?
Lecture 9 What are Credits?
Lecture 10 Example 1: Recording a Cash Sale
Lecture 11 Example 2: Paying an Expense
Lecture 12 Example 3: Borrowing Money
Section 3: Core Principles of Accounting
Lecture 13 Accounting Equation
Lecture 14 Revenue Recognition
Lecture 15 Expense Recognition (Matching Principle)
Section 4: The Accounting Cycle
Lecture 16 Identifying Transactions
Lecture 17 Journal Entries
Lecture 18 Posting to Ledgers
Lecture 19 Adjusting Entries
Lecture 20 Trial Balance
Lecture 21 Post-Closing Trial Balance
Lecture 22 Financial Statements
Lecture 23 Closing Entries
Section 5: Financial Accounting
Lecture 24 Income Statement
Lecture 25 Elements of Income Statement
Lecture 26 Example of Income Statement
Lecture 27 Balance Sheet
Lecture 28 Cash Flow Statement
Section 6: Managerial Accounting
Lecture 29 Cost Accounting
Lecture 30 Variance Analysis
Lecture 31 Product and Service Costing
Lecture 32 Budgeting and Forecasting
Section 7: The Role of Accounting in Society
Lecture 33 Role of Accounting
Entrepreneurs or Business Owners,Supervisors,Students studying business