Learn Basic Fundamental Concepts Of Accounting In 2023

Discover the fundamental concepts of accounting in less than 40 mins with easy-to-understandable explanations

What you'll learn

Grasp the essentials of the accounting equation

Know the difference between a debit and a credit

Learn how to create a balance sheet and income statement

Learn the accounting cycle

Requirements

No prerequisite knowledge is required!

Description

"This isn't your typical accounting course!In this course, I have taught the fundamentals of accounting and developed clever shortcuts and analogies to simplify the learning process. If you're looking for an engaging and straightforward introduction to accounting, this brief course is perfect for you.In just 35 mins, you'll gain a solid understanding of accounting basics. The course includes video lessons where I will explain the concepts and will reinforce your learning through quick quizzes. This course is designed for business owners, business students, managers, or anyone seeking a grasp of fundamental accounting principles. The material is presented in an accessible format, making it insightful even for those who have taken accounting courses before.Here's what you'll learn in this course:- The Accounting Equation (Explained in a way that's easy to understand!)- Balance Sheets- Income Statements- Debits and Credits (And how to distinguish between them!)If you've ever dreaded the idea of delving into accounting, this is the introduction you've been waiting for!Why should you take this course?- You're a business owner, and you want your business to thrive. You recognize that a solid understanding of how the numbers work is essential.- You're a manager who interacts with accounting staff, bookkeepers, owners, and subordinates regularly. You hear accounting terminology daily but desire a deeper understanding of its meaning.- You're a business student. Perhaps you're apprehensive about your first accounting course, or you're currently enrolled in an introductory class, finding the subject matter complex. You're seeking a simple and clear explanation.- You're an accounting student. You feel that you haven't grasped the basics firmly, and you'd like to start from scratch in an easy-to-follow format.Learning Objectives:- Apply the fundamental accounting formula.- Recognize assets, liabilities, and equity.- Explain the connection between the income statement and the balance sheet.- Determine when an account increases with a debit or a credit.- Summarize the purpose of a trial balance.- Differentiate income statement accounts from balance sheet accounts.

Overview

Section 1: Introduction

Lecture 1 Introduction to Accounting

Lecture 2 Financial Transactions and Double Entry Accounting

Lecture 3 Financial Statement, Income Statement and Accounting Principles

Lecture 4 Financial Ratios and Auditing

Lecture 5 Tax Compliance and Budgeting and Forecasting

Lecture 6 Management Accounting and Ethical Considerations

Section 2: Concepts in Accounting

Lecture 7 Fundamental Concepts in Accounting

Lecture 8 What are Debits?

Lecture 9 What are Credits?

Lecture 10 Example 1: Recording a Cash Sale

Lecture 11 Example 2: Paying an Expense

Lecture 12 Example 3: Borrowing Money

Section 3: Core Principles of Accounting

Lecture 13 Accounting Equation

Lecture 14 Revenue Recognition

Lecture 15 Expense Recognition (Matching Principle)

Section 4: The Accounting Cycle

Lecture 16 Identifying Transactions

Lecture 17 Journal Entries

Lecture 18 Posting to Ledgers

Lecture 19 Adjusting Entries

Lecture 20 Trial Balance

Lecture 21 Post-Closing Trial Balance

Lecture 22 Financial Statements

Lecture 23 Closing Entries

Section 5: Financial Accounting

Lecture 24 Income Statement

Lecture 25 Elements of Income Statement

Lecture 26 Example of Income Statement

Lecture 27 Balance Sheet

Lecture 28 Cash Flow Statement

Section 6: Managerial Accounting

Lecture 29 Cost Accounting

Lecture 30 Variance Analysis

Lecture 31 Product and Service Costing

Lecture 32 Budgeting and Forecasting

Section 7: The Role of Accounting in Society

Lecture 33 Role of Accounting

Entrepreneurs or Business Owners,Supervisors,Students studying business