What you’ll learn-117 hours
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Grasp the basics of financial accounting and understand its objectives and significance in business.
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Demonstrate proficiency in using the double-entry accounting system and interpreting the accounting equation.
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Record business transactions using debits and credits, including period-end adjusting entries.
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Understand and apply the rules for closing entries at the end of an accounting period.
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Handle transactions related to the purchase and sale of inventory, including applying inventory cost flow assumptions such as FIFO, LIFO, and weighted average m
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Master the use of subsidiary ledgers and special journals, specifically for accounts receivable and accounts payable
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Conduct bank reconciliations and apply best practices for cash internal controls.
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Accurately estimate and record allowance for doubtful accounts using both allowance method and direct write-off methods.
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Understand, calculate, and record depreciation for property, plant, and equipment using various methods, including straight-line, double-declining balance, and
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Handle transactions related to the purchase and sale of property, plant, and equipment.
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Understand and execute the payroll accounting process, including the calculation of payroll taxes and recording complex payroll journal entries.
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Grasp the unique accounting considerations and transactions for partnerships, including income allocation, admission and withdrawal of a partner, and partnershi
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Handle transactions unique to a corporate form of entity, including issuance and repurchase of shares, and dividend distributions.
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Understand the concept of bonds payable and notes payable, including their issuance, discount/premium amortization, and interest payment.
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Prepare a comprehensive statement of cash flows using both direct and indirect methods, and understand its importance in financial analysis.
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Use Excel to perform various accounting tasks, including creation of amortization schedules and financial statement preparation.
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Understand how to update and adjust accounting records to reflect changes in the business environment.
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Grasp the importance of theory in making appropriate accounting adjustments and decisions.
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Learn how to compare and contrast different accounting procedures and choose the most suitable for a given business scenario.
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Understand and apply the time-value of money concept in the context of bond and note transactions.
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Determine current and long-term portions of notes payable using amortization schedules.
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Learn how to adapt accounting procedures and policies to ever-changing business and regulatory environments.
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