Financial Accounting One: Recording Accounting Transactions
This course is designed for those interested to learn the basics of financial accounting; the core concepts, foundational accounting skills including accounting terms, double entry accounting system, and recording transactions using both the accounting equation and debits and credits.
About This CourseBeginner
This course will cover accounting core concepts, 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 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.
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.
Our Promise to You
By the end of this course, you will have learned the fundamentals of financial accounting.
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Get started today and learn more about recording accounting transactions.
Section 1 - Introduction
Section 2 - Why Learn Accounting
Why Learn Accounting
Section 3 - Accounting Objectives, Accounting Equestion, & Ethics
Accounting Objectives, Accounting Equation, And Ethics
Ethic And Profession
Section 4 - Financial Statements
Statement Of Owner’s Equity
Balance Sheet And Income Statement Relationship
Short Calculation Problems Accounting Equation
Section 5 - Accural Method, Cash Method, Revenue & Expense Recognition
Accrual Method Vs Cash Method
Revenue Recognition Principle
Cash Method Vs Accrual Method
Short Calculation Problems – Part 1
Section 6 - Financial Transation Rules & Thought Process
Financial Transaction Rules And Thought Process
Financial Transaction Rules
Financial Transaction Thought Process
Short Calculation Test Question Accounting Equation
Section 7 - Recording Transactions Using Accounting Equation
Recording Transactions Using Accounting Equation
Cash Transaction – Accounting Equation
Worksheet – Accounting Equation Cash
Accounts Receivable Transactions Accounting Equation
Worksheet 3 – Accounting Equation Account Payable
Short Calculation Test Questions Accounting Equation
Section 8 - Debits and Credits Defined
Debits And Credits Defined
Debits And Credits
Rules For Using Debits And Credits
Section 9 - Debit & Credit Rules & Thought Process
Debit And Credit Rules – Thought Process
Journal Entry Thought Process
Section 10 - Record CashTransactions Using Debits and Credits
Record Cash Transactions Using Debits And Credits
Cash Journal Entries With Cash
Worksheet Prob 4 – Debits And Credits Cash
Section 11 - Record Accounts Receivable Transactions Using Debits and Credits
Accounts Receivable Journal Entries
Worksheet Prob 5 – Debits And Credits Accounts Receivable
Section 12 - Record Accounts Payable Transactions Using Debits and Credits
Record Accounts Payable Transactions Using Debits And Credits
Accounts Payable Journal Entries
Worksheet Prob 6 – Debits And Credits Accounts Payable
Short Calculation Test Questions Debits And Credits
Section 13 - Record Transactions to General Ledger
Worksheet General Leger Cash
Worksheet Prob 8 – General Ledger Accounts Receivable
Worksheet Prob 8 – General Ledger Accounts Payable
Multiple Choice 1 – Questions Accounting Terms Accounting Equation
Section 14 - Comprehensive Problem
Comprehensive Problem Part 1
Comprehensive Problem Part 2
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