Accounting 1 Simplified For You

Your no-nonsense guide to understanding accounting principles in easy to follow explanations and step-by-step examples.

Last updated 2022-01-10 | 4.6

- Design an accounting information system for a small business
- Identify
- classify and journalize the transactions of small business start up.
- Prepare adjusting entries
- generate a trial balance and maintain the general ledger.

What you'll learn

Design an accounting information system for a small business

Identify

classify and journalize the transactions of small business start up.

Prepare adjusting entries

generate a trial balance and maintain the general ledger.

Prepare financial statements - Income Statement

of Owner's Equity

Balance Sheet & Statement of Cash Flows

Understand and apply the value of financial information in managing a business.

Discover career opportunities in accounting

Appreciate and apply the value of accounting in your career

* Requirements

* Ability to add
* subtract
* multiply and divide.
* Analytical Skills
* Patience and willingness to learn

Description

Accounting 1 Simplified for You - is a unique, no-nonsense and meaningful way of understanding accounting basics by illustrating how business transactions are recorded in simple terms and step-by-step easy to follow exercises. Discover how easy it is to prepare financial statements and design your own accounting information system.

Empower yourself with the advantage of knowing and understanding your organization's economic conditions through financial statements. Possess the ability to convert data into information that is meaningful to you. Convert your fear in accounting to confidence based on understanding the "jargon" in your own terms. Sharpen your analytical skills and empower yourself with understanding accounting for your business.

In this class, you will have a series of thoughtfully prepared video lectures, using real-life business examples and practice exercises after each section to reinforce your learning. Dr. Jacinto promotes and encourages lively discussions and feedback sessions. All your questions directly related to the topic will be answered within 24 hours. This course is ideal for college business and accounting students, bookkeepers, business owners, managers and anyone who wants to better understand accounting in business in a way that makes sense to you. This is an excellent study guide and supplement for students in accounting and those who are looking for a quick refresher. This course is an excellent complement to Accounting 2 Simplified You.

Who this course is for:

Intended for beginners audience
None or very little understanding of accounting
Excellent study guide for accounting and business students who are currently enrolled in their first college accounting courses.
Ideal for those who have procrastinated from taking required accounting courses for fear of its difficulty.
Bookkeepers, accounting clerks, managers and small business owners who are looking to understand the big picture
College students who are considering accounting as a career track

Course content

6 sections • 17 lectures

Dr. Majo Jacinto's Student Testimonials 1 lectures

Dr. Majo Jacinto's Student Testimonials Preview 03:01

Successful graduates. Experience with Dr. Majo Jacinto

Understanding Business, Making Decisions and Accounting Basics 3 lectures

How does business work? What do I need to know? Preview 09:27

Purpose of business. Service, Merchandising & Manufacturing. Sole proprietorship, Partnership & Corporation.

What is Accounting? Role of accounting and ethics in business. GAAP Preview 16:44

Accounting information system for business management, borrowing, regulatory and compliance. Results communicated in financial statements. Internal and external users of financial statements. Managerial accounting & Financial accounting.

Test your Knowledge

A multiple choice quiz for the section we just covered.

Discover how it's done in a real business setting. 4 lectures

Setting the stage and sample company text Preview 01:40

Setting up a small business. Sample company transactions. .

Accounting Equation and Recording business transactions. New company setup Preview 22:24

Using the accounting equation to record business transactions. Assets = Liabilities + Owner's Equity. Capital + Revenue - Expenses. Starting a new business.

Financial Statements and the reporting process. Preview 14:20

Income Statement, Statement of Owner's Equity, Balance Sheet, Statement of Cash Flows. Profit and Loss Statement. Operating, Investing and Financing activities. Sequence of financial statement preparation.