Accounting101 Course

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Last updated 2022-01-10 | 4.4

- Learn how to prepare financial statements
- Learn and identify specific items on the Financial Statements (Income Statement
- Statement of Retained Earnings
- Balance Sheet)
- Learn how to analyze business transactions

What you'll learn

Learn how to prepare financial statements

Learn and identify specific items on the Financial Statements (Income Statement

Statement of Retained Earnings

Balance Sheet)

Learn how to analyze business transactions

Learn about Debits and Credits

Must-Know Accounting Regulations

Learn about the Accounting Cycle

Learn how to prepare the Trial Balance (and Adjusted Trial Balance)

Learn about accounting for Accounts Receivable

Learn about accounts that cannot be collected

Learn how to prepare a Bank Reconciliation (Must Know Item!)

Learn how to track inventories (FIFO

LIFO

Average Cost)

Learn the process of depreciation

amortization and disposal of assets

Learn about short-term and long-term investments

Learn everything about bonds

Learn how to analyze Financial Statements with the use of Ratios

* Requirements

* Speakers

Description

Learn how to prepare financial statements
Learn and identify specific items on the Financial Statements (Income Statement, Statement of Retained Earnings, Balance Sheet)
Learn how to analyze business transactions
Learn about Debits and Credits
Must-Know Accounting Regulations
Learn about the Accounting Cycle
Learn how to prepare the Trial Balance (and Adjusted Trial Balance)
Learn about accounting for Accounts Receivable
Learn about accounts that cannot be collected
Learn how to prepare a Bank Reconciliation (Must Know Item!)
Learn how to track inventories (FIFO, LIFO, Average Cost)
Learn the process of depreciation, amortization and disposal of assets
Learn about short-term and long-term investments
Learn everything about bonds
Learn how to analyze Financial Statements with the use of Ratios

Course content

15 sections • 91 lectures

Introduction to the Course 1 lectures

Introduction to the course Preview 01:39

Accounting Principles and Fundamentals 15 lectures

Download the Free E-Book Preview 00:21

Section 2 Introduction Preview 00:27

The Language of Business Preview 01:30

The Language of Business Quiz

Accounting Principles And Assumptions Preview 02:32

Principles and Assumptions Quiz

The Accounting Equation Preview 02:13

Accounting Equation Quiz

Your Review Matters! Preview 00:36

Specific Transactions and Effects on the Accounting Equation Preview 10:06

Learn the elements of the accounting equation in detail. Apply what you learned immediately.

Financial Statements and Relationships Preview 05:10

Learn how to prepare the basic financial statements.

Effects on the Accounting Equation Part 1 Preview 02:05

Effects of transactions on the accounting equation - Exercise.

Effects on the Accounting Equation Part 2 Preview 01:47

Exercises Preview 2 pages

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 4 pages

Solutions to the previous exercises. Check your answers.

Accounting During the Year 9 lectures

Section 3 Introduction Preview 00:29

Debits and Credits Preview 03:16

This lecture provides you with the knowledge of the most fundamental accounting concept: double entry accounting. You will see what debits and credits are and how are used.

Debits and Credits - Visually Explained Preview 08:21

Learn even more about debits and credits.

Debits and Credits - Quiz

Journalizing and Posting - Exercise Preview 05:01

Accounts Balances Preview 03:02

Beginning and ending balances. Calculating a balance of an account.

Debits and Credits

Exercises Preview 2 pages

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 3 pages

Check your answers from the previous exercises.

Accounting at Year-End 8 lectures

Section 4 Introduction Preview 00:29

What you need to do at the end of the year Preview 05:27

Another very important concept in accounting. Cash vs. accrual basis accounting. Learn how to use accounting as required by law.

Deferrals Preview 02:07

Prepaid Expenses and Unearned Revenues are explained.

Accrued Expenses - Adjusting, Reversing, and Paying Preview 03:37

Accrued Revenues - Adjusting, Reversing, Payment Preview 03:05

The Accounting Cycle - Complete Preview 04:46

This is the entire accounting cycle - from identifying a transaction to closing the accounts.

Exercises Preview 2 pages

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 3 pages

Check your answers from the previous exercises.

Keeping Cash and Bank Reconciliation - A Must Know! 7 lectures

Section 5 Introduction Preview 00:47

Internal Control and Bank Reconciliation - A must! Preview 04:24

This lecture will provide you with the knowledge of the effectiveness of internal control. It will introduce cash as the most perpetrated asset and will explain the concept of bank reconciliation.

Bank Reconciliation - Explanation and Example Preview 04:59

Internal Control and Cash Management Concepts - Visual Presentation Preview 07:06

A general presentation about internal controls and cash management.

Petty Cash Fund Preview 03:39

How to establish, reimburse (replenish), and increase/decrease a petty cash fund.

Exercises Preview 1 page

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 1 page

Check your answers from the previous exercises.

Accounts Receivable - Collections - Not Everyone Pays 7 lectures

Section 6 Introduction Preview 00:21

Accounts Receivable - Collections - Not everyone pays Preview 05:22

In this lecture you will learn about uncollectible accounts and how to account for them. Namely, you will learn about the Direct Write Off Method and the Allowance Method.This lecture will provide examples of receivables.

Direct Write-Off Method (Bad Debts) Preview 04:11

Apply the direct write-off method.

Allowance Method - Percentage of Sales (Bad Debts) Preview 03:05

Apply the allowance method - when the estimate is based on sales.

Allowance Method - Aging Receivables (Bad Debts) Preview 03:50

Apply the allowance method - when the estimate is based on receivables.

Exercises Preview 1 page

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 3 pages

Check your answers from the previous exercises.

Accounting for Merchandising Businesses 4 lectures

Section 7 Introduction Preview 00:33

Accounting for Merchandising Businesses (Retailers) Preview 06:35

The accounting rules for merchandising businesses.

Accounting for Merchandising Businesses Preview 10:19

Learn the specifics of merchandising businesses.

Merchandising Operations - Comprehensive Problem Preview 05:22

Accounting practice - specific to merchandising (retail) businesses.

Tracking Inventory - More competitive, save on taxes 7 lectures

Section 8 Introduction Preview 00:35

FIFO, LIFO, Weighted Average Cost Preview 04:59

FIFO Method (Perpetual Inventory) Preview 07:51

Apply the FIFO method for inventory.

LIFO Method (Perpetual Inventory) Preview 06:26

Apply the LIFO method for inventory.

Weighted Average Cost Method (Perpetual Inventory) Moving Average Preview 06:10

Apply the weighted-average cost method for inventory.

Exercises Preview 1 page

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 2 pages

Check your answers from the previous exercises.

Fixed Assets and Depreciation - Get it right! 5 lectures

Section 9 Introduction Preview 00:45

Plant (fixed) Assets and Depreciation Preview 04:31

Section 7 and this lecture introduce you to the accounting for plant assets and intangibles. It provides you with some examples and later explains how you should account for them. In addition, the concept of Depreciation is introduced and 3 specific methods are explained. (Straight Line, Units of Production, and Double Declining Balance Method)

Depreciation - Problem Solving (All Methods) Preview 07:15

Apply all 3 methods (straight-line; double declining balance; units-of-production) practically.

Exercises Preview 1 page

Exercises to apply your knowledge independently.

Solutions to Exercises Preview 2 pages

Check your answers from the previous exercises.

Accounts Payable and Bonds 7 lectures

Section 10 Introduction Preview 00:45

Bonds Preview 04:05

Bonds, the issue, the accounting and the sale of bonds is explained. Also, the basic concepts on bonds are covered. Simply put, everything about bonds, made easy.

Bonds: Issuance, Amortization (Straight line), Maturity Preview 03:35

Bonds: Amortization (Effective Interest Method) Preview 03:17

Time Value of Money Preview 04:54

Learn the most important concept in accounting and finance.

Bond Pricing - Present Value of Bonds Preview 02:25

Bonds Exercises Preview 04:18

Equity - Stocks and Dividends 6 lectures

Section 11 Introduction Preview 00:31

Overview of Corporations and Stock Preview 02:23

Issuing Stock (Common and Preferred) Preview 02:53

Common VS. Preferred Stockholders Preview 03:05

In this lecture you will be introduced with different types of stock and their basic rights. In addition, you will learn how distinguish between different types of stock. The accounting for issuing, maintaining and selling stock is explained.

Cash Dividends Comprehensive Problem Preview 04:18

Stock Splits Explanation Preview 01:30

Investments and Time Value of Money 7 lectures

Section 12 Introduction Preview 00:49

Investments and Time Value of Money Preview 03:29

This lecture will introduce you to long-term investments and will teach you about the Equity Method and Consolidated Financial Statements. At the end of this lecture you will find the most valubale lesson in the business world: the Time Value of Money.