Class Syllabus: Accounting & Bookkeeping for Beginners
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Course Description
Introduction To Financial Accounting and Bookkeeping For Beginners is an introductory course to accounting, finance and bookkeeping designed to give you a great start in the wonderful and profitable field of accounting. Accounting is not an exact science and neither does it follow a random process; lessons are usually built on the previous ones. For this reason, the course is laid out in a systematic format that allows anyone to not only learn the techniques and principles involved, but also get an overall picture of the accounting cycle, step-by-step, through examples, exercises, flowcharts, and diagrams.
We focus extensively on the fundamental accounting concepts as they are laid out by Generally Accepted Accounting Principles (GAAP). The course covers such topics as the accounting equation, the double entry system, debits and credits (a challenging area for newcomers!), the matching principle concept, inventory valuation: First in, First out (FIFO), Last in First out (LIFO), Specific Identification and Weighted Average methods. Depreciation charts explain and show the difference between straight-line depreciation, double declining balance, sum of the year's digits and units of production. Depletion and Amortization are also discussed. We look into assets, liabilities and equity accounts (including contra-asset accounts), T-accounts, prepaid expenses, bank reconciliation, petty cash, posting transactions, adjusting entries, financial statements, closing entries, post-closing trial balance, ratio analysis and much more. An important accountant's worksheet is presented that greatly simplifies the preparation of financial statements. Learn how to prepare and read the statement of Cash Flow to extract meaningful information about a company's financial position. COURSE INCLUDES FULL MOTION VIDEOS AND CROSSWORD PUZZLES TO REINFORCE KEY ACCOUNTING CONCEPTS.
After successful completion of the course, students will feel very confident about his or her accounting skills and may want to pursue it as a career. The course also allows anyone to analyze their skills and decide whether or not this is the right field for them. The class may also be used as a study guide for those already taking accounting. Students who are struggling with accounting now, will find this to be a strong reinforcement to their current study. They will find this material easier to understand and therefore increase their confidence level.
Course Requirements
Students will be expected to participate in the class discussions and assignments and successfully complete the quizzes in order to pass the class. No previous accounting experience is needed to enroll.
Course Goals
The ultimate goal of this course is to guide and motivate you to consider accounting as a lifetime career. This is a very exciting and rewarding field. You will also use the class as a tool to evaluate your own accounting skills.
Reading Materials
Students are required to read through the class lessons and complete the assignments, exercises and quizzes. Net links are also given at selected lessons for you to visit and get additional information in accounting. Extra credit work available to help pass the course or improve grades.
Grading Policy
There will be some end-of-lesson quizzes, a final exam and various assignments, exercises. Students will be graded on the quizzes and the final exam. The assignments are highly recommended also as part of class participation. An overall minimum of 70% is needed to successfully complete the course. The quizzes could be in the form of multiple choice, true/false, fill in the blanks and essay type questions.
Frequently asked questions
(1) What is this class about?
This is an introductory course in accounting and finance. It is designed to guide and motivate you to consider accounting as a lifetime career.
2) Why should I take this course?
Those who successfully complete the course will feel very confident about his or her accounting skills and will want to pursue it as a career. The course also allows anyone to analyze their accounting skills and decide whether or not this is the right field for them.
After successful completion of the course, students will also have a broader view of the accounting cycle and maybe qualified to perform bookkeeping work and assist accountants in the field.
3) Does this course require any previous education or experience?
NO! The course is entry-level and is suitable for anyone. Those who are currently studying accounting and perhaps struggling with it may also find it as a useful study guide.
4) How does one complete this course?
Students will need to take some end-of-lesson quizzes and a final exam and obtain an overall minimum of 70% to successfully complete the course.
5) Am I allowed to retake the quizzes and the final?
No. The material has been carefully put together to give you a good understanding of the basic accounting principles. The quizzes are not too difficult. With a little bit of effort you should be able to do just fine. 6) Are there any recommended courses after I complete this one? YES. After successful completion of this course, the instructor provides a list of other courses that might be of interest in your accounting career including Intermediate Accounting, Auditing and Quickbooks. 7) What will I get for successfully completing this course? Upon successful completion of the course and based on your performance, you may qualify for the following certificates:
- Attendance
- Class participation
- Appreciation
- Merit
- Outstanding achievement
- Academic excellence
Be advised that certificates may carry a fee from UniversalClass. Continuing Education Credits (CEU) is available to you based on the options you select when you register for the course. Multimedia Content
Course includes full motion videos and crossword puzzles! in designated areas to reinforce key accounting concepts. After reading the material, sit back and let the instructor walk you through some of the more difficult areas of the course through additional examples on Excel spreadsheets.
Learning Outcomes By successfully completing this course, students will be able to:
- Identify job opportunities in the accounting field.
- Identify regulatory bodies.
- Describe the accounting cycle.
- Identify the key concepts and related terminology of accounting.
- Record transactions and post entries to the General Ledger.
- Prepare a Trial Balance and Adjust Entries.
- Summarize the major financial statements of a company.
- Identify and describe the Statement of Cash Flow.
- Use Ratio Analysis.
- Describe the auditing process, and
- Demonstrate mastery of lesson content at levels of 70% or higher.
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