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| 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. |
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Please
click here to take this course through an accredited
college or university in your community.
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Syllabus:
A new section of each course starts monthly. 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.
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 lessons are released. You
will have access to all lessons until the course ends. However, the
interactive discussion area that accompanies each lesson will
automatically close two weeks after the lesson is released. As such, we
strongly recommend that you complete each lesson within two weeks of its
release.
The final exam will be released on the same day as the last lesson. Once
the final exam has been released, you will have two weeks to complete
all of your course work, including the final exam.
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.
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Please
click here to
take this course through an
accredited college or
university in your
community. |
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