| || || |
Learn the Fundamentals of Accounting Today!
Understanding the basics of accounting can make the difference between success and failure in so many different areas of life. Financial reports, balance sheets, reconciling bank statements--and the ability to create, interpret and implement them--are all tools we can't afford to ignore.
* Instantly download, print, and share your CEU Certificate at course completion (additional shipping/handling charges apply for hard copy delivery).
UniversalClass™ offers many wonderful learning tools including an online portfolio service that manages all your course completions and CEUs.
| || |
"Accounting & Bookkeeping 101 for Everyone" is a course that covers the fundamentals of accounting with the newcomer in mind. Accounting is more than just memorizing terms and procedures; it's a whole new way of thinking about finances. This course assumes students have no prior knowledge about accounting or finance, and delivers lessons and examples to build accounting skills. Specifically, this class addresses accounting terminology, revenue, expenses, net income, the accounting equation, debits, credits, and balancing the accounting formula, the accounting structure, the accounting cycle, journals, ledgers, the trial balance and more. It also guides students to learn how to read financial statements properly, and how to grab meaningful information from the balance sheet, income statements and cash flow statements.
After completing this course, you will have a solid understanding of accounting in today's world. By applying the concepts learned in this course, you will understand the processes behind Accounts Payable and Accounts Receivable, you will understand how and why financial transactions are documented, you will know what cash flow is and how to improve it, you will know what profit is, how it's interpreted, and what influences its growth. Moreover, you will know where the money in the company you work for, or own, goes. Learn accounting now and achieve a skill that is an invaluable (if not required) asset to your professional development.
Request More Information
Have a question? Contact us for more information.
Why is accounting important to understand?
Accounting is the most important part of any successful business. It records all profits, losses, credits, and debits. It tells you the state of the business in numbers, not words. It provides the most vital information you need to understand how your business grows, makes money, where the profit of a business goes, and what your cash flow is. In short, if you do not understand the basic principles of accounting, you cannot run a business, nor can you even hope to help a business grow and profit.
If you work for a company and are currently managing any aspect of the company, or if you aspire to move up to management, then you need to understand what accounting is. Moreover, if you are an entrepreneur, or you ever plan to start your own business, you need to understand, at the very least, the basic principles of accounting.
This course is going to help you understand the basic principles of accounting so that you can read and understand the three main financial reports of a company: the balance sheet, the income statement, and the cash flow statement. Moreover, you'll know and understand the basic accounting equation and how to factor in debits, credits, inventory, and taxes, which will help you to make the right decisions to increase your company's wealth and profit.
In this course, we take everything in baby-steps. We assume you know nothing about accounting or any accounting terms. We strive to explain all accounting concepts in every day language, using real-life examples wherever possible. Additionally, we've set up the course so that you need to master all concepts in any given lesson before you can successfully complete the lesson and move on. As such, this course is built incrementally. You need to understand each previous lesson fully in order to understand the concepts covered in later lessons.
Learning accounting is like any new skill. There is a learning curve, and the skill needs to be practiced (or used in this case) in order for it to be effective. If you have access to your company's financial statements, please take the time to apply our examples to your company's financials. If you are an entrepreneur, a business owner, or plan to start your own business, copy our examples used in this course, using your own business relevant assets.
Those of us who are born as right-brain thinkers tend to be better at creative, imaginative, passionate activities. Then there are those of use who are left-brain thinkers--naturally adept at working with numbers, applying logical reasoning, and analytically solving problems.
Regardless of which category you fall into, the truth is that anyone can learn the basic principles of accounting and develop a knack for managing the financial aspects of a business. The upside of learning basic accounting principles is that, regardless of whether it is a large Fortune 500 company or a small entrepreneurial start-up, the same fundamental rules apply when working with the bottom line.
By successfully completing this course, students will be able to:
- Identify why accounting is a necessary skill.
- Summarize the history of accounting.
- Identify and describe assets, liabilities and owners' equity.
- Recognize and compare the major financial reports.
- Describe and create a company's Income Statement.
- Compare and contrast a company's revenue, expenses, income, and retained earnings.
- Solve worksheet problems involving income statements, revenue, expenses, and net income.
- Identify the key elements of a Balance Sheet.
- Balance the accounting equation and properly chart debits and credits.
- Describe the key elements of bookkeeping.
- Avoid the pitfalls of bad bookkeeping habits.
- Describe the accounting cycle.
- Define key terms: inventory, FIFO, LIFO, Cost of Goods Sold.
- Summarize cash flow, identify fixed assets, and describe depreciation.
- Demonstrate understanding of liquidity, solvency and profitability.
- Summarize asset management and asset valuation.
- Be apprised of key laws and procedures involved in payroll accounting.
- Know what to expect in an audit.
- Summarize ethical business practices in accounting, and
- Demonstrate mastery of lesson content at levels of 70% or higher.
Lesson 1: Introduction to Accounting: Why accounting is a necessary skillAccounting is the "language of business." Great managers of any organization must know accounting fundamentals and have a solid understanding of how to read financial statements.
Lesson 2: The History of AccountingThroughout history, accountants have made sizable contributions to the development of cities, trade, and industry, not to mention the formulation of the practice by which numbers came to represent wealth.
Lesson 3: The Fundamentals of AccountingBasic terms, Assets, Liabilities, Owners' Equity, Accounting Equation, Business Types, Bookkeeping, Auditing, GAAP
Lesson 4: Assets, Liabilities, and Owners' EquityIn this lesson, we will cover assets, liabilities, and owners' equity.
Lesson 5: Financial ReportsThis lesson covers basic information regarding financial reports.
Lesson 6: The Income StatementThis lesson explains what income statements are and determination of expenses vs revenue.
Lesson 7: The Income Statement: Understanding Revenue, Expenses, Income, and Retained EarningsPurpose of the Income Statement; How to read the Income Statement; What are Retained Earnings, Revenue, Expenses, Net Income, Income Tax, Cash Accounting, Accrual Accounting
Lesson 8: Worksheet Problems: Income Statement, Revenue, Expenses, Net IncomeThis lesson contains workbook problems to solidfy your understanding of revenue, expenses, and net income.
Lesson 9: The Balance SheetThis lesson includes the definition of a balance sheet and the pros and cons of off-balance sheets.
Lesson 10: Worksheet Problems: The Balance SheetHow to balance the fundamental accounting equation; Debits and Credits; "T" Accounting; Double Entry Accounting; Diagrams and Charts; Real World Example;
Lesson 11: Worksheet Problems for Accounting Equation, Debits, and CreditsReal world examples of debits and credits and how to balance the accounting equation.
Lesson 12: The Accounting Structure: A Closer LookRecording Transactions; Source Documents; General Journal; General Ledger; Trial Balance
Lesson 13: Bookkeeping 101This lesson describes the differences between bookkeeping and accounting and the responsibilities, liabilities, and certification available in becoming a bookkeeper.
Lesson 14: Bookkeeping: Dos and Don'tsThis lesson details how to effectively record data and the mistakes to avoid.
Lesson 15: The Accounting CycleLearn all the elements of the accounting cycle, from what occurs at the beginning of the accounting period to the generation of financial reports and an independent audit at the end of the accounting period.
Lesson 16: Inventory, FIFO, LIFO, Cost of Goods SoldIn this lesson we'll learn about Inventory, First-In, First-Out, Last-In, First-Out, Cost of Goods Sold, and average cost of goods sold.
Lesson 17: Cash Flow, Fixed Assets, DepreciationUnderstanding positive and negative cash flow.
Lesson 18: Management AccountingThis lesson focuses on how financial reporting can be used to achieve sales goals and productivity.
Lesson 19: Cash Flow ManagementThis lesson addresses available working capital, cash flow analysis, and a well-balanced cash flow.
Lesson 20: Accounting Ratios: Liquidity, Solvency, and ProfitabilityThis lesson discusses accounting ratios and profitability to financially analyze a firm.
Lesson 21: Asset Management and Asset ValuationThis lesson describes the accounting process of monitoring fixed assets and determining the current market value of a company's holdings.
Lesson 22: Payroll AccountingThis lesson describes how to keep accurate payroll records, avoid mistakes, taxes due, and employee files.
Lesson 23: The AuditThis lesson discusses the various kinds of audits, what to expected if audited, and the records needed.
Lesson 24: Ethical Business Practices in AccountingThis lesson addresses the mandatory and accurate disclosure of profit and losses to investors of public companies (corporations) and the penalties for misrepresentations.
|Course Title ||: ||Accounting & Bookkeeping 101 for Everyone |
|CEU Value ||: || |
|Standard ||: || |
Course Adheres to the ANSI/IACET 1-2007 Standard
|Accreditation ||: || |
|Languages ||: ||English - United States, Canada, United Kingdom, Australia, New Zealand, and other English speaking countries |
|Course Number ||: ||7550309 |
|Course Type ||: ||College Level |
|Course URL ||: || |
|Course Rating ||: || |
|Instructor ||: || |
|Syllabus ||: || |
|Grading Policy ||: || |
Earn a final grade of 70% or higher to receive a CEU Certificate documenting CEUs earned
|Assessment Method ||: || |
Lesson assignments and review exams
|Course Review ||: || |
|Duration ||: ||Continuous: Enroll anytime! |
|Requirements ||: ||View Technical Requirements |
|Course Fee ||: || |
Basic Course: $65.00 (no CEU Certificate)
| || || |
Choose from 5 Secured Payment Methods
| ||Credit Card Online || ||Credit Card through FAX |
| ||Check/Money Order through Mail || ||Credit Card over the Phone |
| ||PayPal || |
|To use any of these methods you must press the "Join this Course" button on this screen and go through the online registration process in order to generate the correct order form and correctly process your enrollment. All financial information is secured and encrypted using Verisign-approved SSL during transmission. |
Learn the language of business--accounting, bookkeeping and finance. This is an introductory course that will provide you with the necessary skills of understanding accounting and finance. Grow in your career by increasing your knowledge, terminology and business tools. The ultimate goal of this course is to guide and motivate you to consider accounting as a lifetime endeavor.
Other Related Classes in Accounting
- Basic Math 101 Fear fractions no more. And learn whether to add first or multiply first in a string of operations. Whether you are struggling with basic math functions in a course today, you are taking a new job that demands understanding of math, or you simply need to...
- QuickBooks 101 QuickBooks 101 is a course geared for the small business and the small business owner. It contains the features that you loved in Quicken, then goes a step further to give small businesses the accounting software they need to take their numbers from an e...
- Accounts Payable Management This course is a training guide for the new manager of an accounts payable department. It will help you step into your new role and take a commanding and successful lead. This course will take what you know and enhance it by adding management principles...
- Human Resources Management 101 Many professionals who enter into the world of human resources quickly believe that they will succeed in their new found field simply because they have a knack for relating with people from all walks of life. While having good people skills is certainly ...
- Accounts Receivable Management Accounts Receivable management is a demanding job. You'll be making decisions that can make or break a company. Your role is unique and complex--one that is closely integrated into the overall customer service of your company. In this course, we'll look ...
- Payroll Management 101 There are many aspects that need to be covered when running a successful business. One of the most important aspects in any business is of course, payroll management. The members of the business involved in payroll management have unique responsibilities...
- Customer Service 101 Good customer service is not about satisfying the cu stomer, it is about wowing the customer! It's about making the customer walk in, do business, and walk out again absolutely stunned that their transaction was so enjoyable. Customer service is a ...
- Project Management 101 Have you ever been involved in a complex project that just did not go the way you wanted? Often failure is pre-ordained due to the approach to the project. The concept of project management exists because it helps assure completion of a project successfu...
- Business Management 101 Introduction to Business Management The world of business management offers an array of career opportunities unparalleled among income earning possibilities. Industries from mining to waste disposal have management-level positions in many companies. ...
- Business Math 101 This course takes you through an overview of the wonderful world of business mathematics. The course is designed for a person of any age and anywhere in the world. All that is required of the learner are a computer, a connection to the internet, a c...
- Home Business Owning a home business can be one of the most rewarding career moves you will ever make. Not only do you get the freedom of answering only to yourself, but our increasingly Internet-savvy society makes reaching out to worldwide consumers easier than ever...
- Advertising, Marketing and Sales Writing There you are, cold-calling yet another sales prospect. Your verbal pitch is pure gold; your prospect is attentive--interested--and seems ready to buy. But just as you're about to close the deal, you hear that eternal refrain: Send me something ...
- Fundraising 101 Whether you are seeking to raise funds for your non-profit group, a worthy charity, political or religious organization, your local school or to provide community specific aid, this detailed course will provide you with everything you need to know about...
- How to Write a Business Plan 101 Most CPAs will tell you that the number one mistake people make in starting a new business is that they fail to write a business plan. Without a written set of plans and directions, a new business will struggle on many levels. You may start out doing wel...
- Business Analysis 101 How can you make a significant difference in your organization? One way is to be part of a project that improves the company's performance or launches it in a new direction. The business analyst (BA) plays a key role in the development and execution of ...
- Quicken Deluxe 2010 Quicken Deluxe is a personal finance management tool that provides features that we all need to keep track of where our money is going. However, this software gives you more than just the power to log your finances and manage your bills. It can also ...
- Team Management 101 Team Management Is -- Designing & Developing a Team Committed to a Common Purpose No man will ever make a great leader who wants to do it all by himself or to get all the credit for doing it. (Andrew Carnegie) 'Managing' used to be just tellin...
- Telephone Skills and Quality Customer Service Today's consumers have a variety of options for shopping, obtaining services and getting the help they need. They can use catalogs, the mail, the Internet and face-to-face contact, yet telephone customer service is still the first choice for most custome...
- Introduction to Six Sigma Six Sigma is a methodology of implementing a highly successful project, or producing a high quality product or service, using techniques and principles that ensure excellence. The Six Sigma methodology incorporates many years of studying best practices i...
- Microsoft Project 2007 Microsoft Project 2007 is a project management software that helps project managers better structure, organize, and plan for all their projects. This includes budgets, tasks, resources, assignments, and everything in between. It can create critical pat...
- Budgeting and Saving 101 This course is designed to get you up to speed on the basics of business budgeting and cost cutting. You will be introduced to the different aspects of business financial tools and will have an essential primer to current business trends in cost cutting ...
- Marketing for Small Business 101 Marketing for the 21 st century small business is more dynamic and more challenging than ever before in the course of history. The world has simultaneously opened up and yet niched closed in many ways. Today's businesses are challenged by a couple of ...
- Customer Relationship Management 101 Quality in a service or product is not what you put into it. It is what the client or customer gets out of it. (Peter Drucker) We are exposed to customer service (of one kind or another) at least once a day, every day of the week, fifty-two weeks ...
- Small Business Guide Starting and operating a business is a minefield of rules and regulations. The regulations set in the moment you decide to start your own business. You need to get licenses and permits from the authorities. There are restrictions on the type of business ...
- Marketing Outreach Marketing a company's products and services to potential and existing customers is not only necessary, but a key ingredient to growing sales. Outreach marketing is the facet of marketing in which a company representative actively seeks out potential lead...
- Mastering Sales Skills 101 Sales are the lifeblood of any business. Every business transaction you have from buying milk at the grocery store to buying your house or investing in new products and services involves sales. Mastering Sales Skills: How to be a Successful Salesperson ...
- Business Consulting 101 Do you have strong business skills? Can you analyze information and construct a recommendation on a course of action? Do you have good communication, observation and character analysis abilities? Then you could be a good candidate to provide business con...
- Business Credit 101 Business Credit 101 provides potential and current business owners with the necessary knowledge to successfully use credit within their business. There are many reasons why business operators rely on credit to maximize their business potential, but it ...
- Creating an Effective Sales Team Every small business owner or new entrepreneur knows that the success of their company will depend largely on the effectiveness of their sales team. After all, if you are not selling something, then you can hardly call yourself in business since business...
- Call Center Management 101 Customer relationships are the cornerstone of every business. Businesses today require considerable communication to ensure high quality customer care from the beginning to the end of a sale. Call centers are significant in creating and maintaining succe...
- How to Run an Effective Helpdesk 101 A Help Desk is usually not a profit-generating department within a company. It is, for many organizations, a necessary expense, but it can add a significant amount of value to a company in a variety of ways. In order for your Help Desk to add this valu...