Accounting–Financial Accounting Total-Beginners to Advanced

• An Introduction to Accounting, The Double Entry Accounting System, & Recording Transactions using Debits and Credits
• Analyze, use, and create from scratch financial statements including a balance sheet, income statement, statement of equity, and statement of cash flows
• Use the concepts of the double entry accounting system
• Record financial transactions using the accounting equation
• Record financial transactions using debits and credits
• Learn when and how to use accounting methods such a the accrual method and cash method
• Apply the concepts related to the revenue recognition principle and the matching principle to recording transactions and reading financial statements
• Record period end adjusting entries and be able to explain why adjusting entries are necessary is a well designed accounting system
• Record merchandising transactions. Record transactions involving inventory
• Track inventory using cost flow methods like FIFO, LIFO, and Weighted Average Methods
• Create and use subsidiary ledgers like accounts receivable by customer and accounts payable by vendor subsidiary ledgers
• Learn how to create and use special journals and how they can be part of an accounting system
• Construct and interpret a bank reconciliation, one of the most critical internal controls
• Be able to implement internal controls over cash
• Value account receivable and record bad debt expense using either the allowance method or direct write off method
• Calculate depreciation using different depreciation methods including straight line depreciation, double declining balance, & units of production depreciation
• Record payroll transactions and calculate net pay and income tax withholding
• Record transaction specific to partnerships including methods to allocate net income to the partners, adding a new partner, and a partner leaving or selling a partnership interest
• Record transaction specific to a corporation including selling capital stock, selling preferred stock, buying treasury stock, issuing cash dividends, and issuing stock dividends
• Record transactions related to the issuance of bonds
• Record transactions related to notes payable. Learn to create an amortization table.
• Construct a statement of cash flows using the direct method and indirect method. We go into more detail about best practices to construct a statement of cash flows than any other course we have seen

Who this course is for:

• Aspiring accounting students who have an interest in the topic
• Accounting professionals
• Anyone who whats to learn accounting
• Accounting and business students who want a reference source to the material they can actually keep, unlike most digital textbooks used in most accounting programs these days
• Business professional who want a comprehensive reference to standard financial accounting topics they can refer to