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Skillshare

Financial Accounting - Debits & Credits

via Skillshare

Overview

Accounting core concepts will be covered, 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 the 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.

We also offer practical practice problems in Excel, along with step by step instructional videos to walk you through an example problem. Learning basic concepts in Excel while learning accounting concepts will advance our ability to learn both topics much faster. We will only cover very basic Excel tops, using step by step instruction, including learning how Excel names cells, how to add and subtract in Excel, and how to use the sum function.

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.

I am available for questions throughout the course. I have been teaching and working in accounting for a long time, have a lot of experience breaking down concepts, and enjoy working with new people.

Please join us in learning financial accounting concepts

Syllabus

  • Financial Accounting, Debits & Credit, Accounting Transactions
  • 100 Why Learn Accouning
  • 102 Accounting Objectives U
  • 120 Balance Sheet
  • 130 Income Statement
  • 131 Statement of Owner's Equity
  • 132 Balance Sheet & Income Statement Relationship
  • 134 Revenue Recognition Principle
  • 135 Cash Method vs Accrual Method
  • 150 Ethic & Profession
  • 155 Financial Transaction Rules
  • 160 Financial Transaction Thought Process
  • 165 Cash Transaction Accounting Equation
  • 170 Accounts Receivable Transactions Accounting Equation
  • 205 Debits & Credits
  • 210 Rules for Using Debits & Credits
  • 215 Journal Entry Thought Process
  • 220 Trial Balance
  • 225 Cash Journal Entries with Cash
  • 230 Accounts Receivable Journal Entries
  • 240 Accounts Payable Journal Entries
  • 245 General Ledger
  • Compare and contrast liabilities and equity
  • Describe accounting opportunities
  • Describe accountings role in the age of information
  • Does Accrual Method Overstate Assets & Revenue
  • Is Cash ths same as Revenue
  • What is objectivity and how does it support ethics
  • Compare general ledger and a chart of accounts 200
  • Describe source documents 200
  • Describe the recording and posting processes 200
  • Multiple Choice 1 Questions Accounting Terms Accounting Equation

Taught by

Robert Steele

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