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Fundamentals Of Accounting

Want to understand financial statements? Start with the fundamentals of accounting. Enroll now and boost your career. Read more.

5.0( 2 REVIEWS )
120 STUDENTS
1h 37m
Course Skill Level
Beginner
Time Estimate
1h 37m

I am Imran Zakir experienced accounting teacher with over 15 years of experience in the field of accounting and finance. I hold a Master's degree in Business & Accounting from The University of Notre Dame Australia. Before joining The University of Technology & Applied Sciences as an accounting teacher, I worked for an accounting firm, where I gained valuable experience in financial analysis and financial reporting. Teaching Approach: My teaching approach is focused on creating an engagi

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About This Course

Who this course is for:

  • Accounting students
  • Business owners
  • Aspiring accountants

What you’ll learn: 

  • How to record, summarize, and report financial transactions in a company’s financial statements
  • How to organize and compile accounting transactions in a ledger
  • The preparation and use of a trial balance
  • The concept of accrual accounting

Requirements: 

  • Basic mathematics and analytical skills are helpful

Transactions: The accurate recording and documentation of business transactions are essential for sound financial reporting and decision-making.

Accounts: Accounts are used to classify, record, and track the financial operations of a business or organization.

Double-entry accounting: A bookkeeping method requiring every transaction to be balanced by equal and opposite entries, ensuring the accounting equation remains balanced.

Debits and credits: The two types of entries made for each financial transaction in the double-entry accounting system.

Chart of accounts: A complete list of all accounts used by a business to document financial transactions.

Journal entries: The initial recording of financial transactions in a chronological order.

Ledger: A detailed record of all financial transactions for each account.

Trial balance: A summary of all debit and credit balances in the general ledger accounts, prepared at the end of an accounting period.

Financial statements: Documents providing information about a company’s financial performance and position.

Accruals and deferrals: Accounting concepts used to record transactions in a company’s financial statements based on when revenue is earned or expenses incurred.

Adjusting entries: Entries made at the close of an accounting period to ensure financial statements accurately represent the company’s financial position.

Fuel your passion with knowledge. Explore my courses and ignite your success.

Our Promise to You

By the end of this course, you will have a solid understanding of accounting fundamentals.

10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

Get started today!

Course Curriculum

Section 1 - Introduction
Introduction 00:00:00
Section 2 - Basic Concepts Of Accounting
Chart Of Accounts 00:00:00
Analyse Transaction 00:00:00
Debit And Credit Rule 00:00:00
Recording Of Transaction In The Journal 00:00:00
Posting To The Ledger 00:00:00
Trial Balance 00:00:00
Accrual Accounting Concept 00:00:00
Adjusting Entries For Prepaid Expenses And Unearned Revenue 00:00:00
Adjusting Entries For Accrued Income And Accrued Expense 00:00:00
Preparation Of Balance Sheet 00:00:00
Preparation Of Income Statement 00:00:00
Preparation Of Statement Of Cash Flows 00:00:00
Assignment Fundamentals of Accounting 00:00:00

About This Course

Who this course is for:

  • Accounting students
  • Business owners
  • Aspiring accountants

What you’ll learn: 

  • How to record, summarize, and report financial transactions in a company’s financial statements
  • How to organize and compile accounting transactions in a ledger
  • The preparation and use of a trial balance
  • The concept of accrual accounting

Requirements: 

  • Basic mathematics and analytical skills are helpful

Transactions: The accurate recording and documentation of business transactions are essential for sound financial reporting and decision-making.

Accounts: Accounts are used to classify, record, and track the financial operations of a business or organization.

Double-entry accounting: A bookkeeping method requiring every transaction to be balanced by equal and opposite entries, ensuring the accounting equation remains balanced.

Debits and credits: The two types of entries made for each financial transaction in the double-entry accounting system.

Chart of accounts: A complete list of all accounts used by a business to document financial transactions.

Journal entries: The initial recording of financial transactions in a chronological order.

Ledger: A detailed record of all financial transactions for each account.

Trial balance: A summary of all debit and credit balances in the general ledger accounts, prepared at the end of an accounting period.

Financial statements: Documents providing information about a company’s financial performance and position.

Accruals and deferrals: Accounting concepts used to record transactions in a company’s financial statements based on when revenue is earned or expenses incurred.

Adjusting entries: Entries made at the close of an accounting period to ensure financial statements accurately represent the company’s financial position.

Fuel your passion with knowledge. Explore my courses and ignite your success.

Our Promise to You

By the end of this course, you will have a solid understanding of accounting fundamentals.

10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

Get started today!

Course Curriculum

Section 1 - Introduction
Introduction 00:00:00
Section 2 - Basic Concepts Of Accounting
Chart Of Accounts 00:00:00
Analyse Transaction 00:00:00
Debit And Credit Rule 00:00:00
Recording Of Transaction In The Journal 00:00:00
Posting To The Ledger 00:00:00
Trial Balance 00:00:00
Accrual Accounting Concept 00:00:00
Adjusting Entries For Prepaid Expenses And Unearned Revenue 00:00:00
Adjusting Entries For Accrued Income And Accrued Expense 00:00:00
Preparation Of Balance Sheet 00:00:00
Preparation Of Income Statement 00:00:00
Preparation Of Statement Of Cash Flows 00:00:00
Assignment Fundamentals of Accounting 00:00:00

Course Review

5.0

5.0
2 Ratings
  1. Anonymous

    GREAT COURSE

    5.0

    A LITTLE DULL AT BEGINNING BUT STICK WITH IT!

  2. Anonymous
    Joshua McCarthy June 18, 2023 at 07:10 AM

    Great course, learned a lot!

    5.0

    Easy to follow and understand! Great course for those looking to learn more

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