Online Class: Accounting, Bookkeeping, and Finance 101

Course Lessons

• Introduction to Accounting: Why accounting is a necessary skill

  Accounting 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.

• The History of Accounting

  Throughout 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.

• The Fundamentals of Accounting

  Basic terms, Assets, Liabilities, Owners' Equity, Accounting Equation, Business Types, Bookkeeping, Auditing, GAAP

• Assets, Liabilities, and Owners' Equity

  In this lesson, we will cover assets, liabilities, and owners' equity.

• Financial Reports

  This lesson covers basic information regarding financial reports.

• The Income Statement

  This lesson explains what income statements are and determination of expenses vs revenue.

• The Income Statement: Understanding Revenue, Expenses, Income, and Retained Earnings

  Purpose of the Income Statement; How to read the Income Statement; What are Retained Earnings, Revenue, Expenses, Net Income, Income Tax, Cash Accounting, Accrual Accounting

• Worksheet Problems: Income Statement, Revenue, Expenses, Net Income

  This lesson contains workbook problems to solidfy your understanding of revenue, expenses, and net income.

• The Balance Sheet

  This lesson includes the definition of a balance sheet and the pros and cons of off-balance sheets.

• Worksheet Problems: The Balance Sheet

  How to balance the fundamental accounting equation; Debits and Credits; "T" Accounting; Double Entry Accounting; Diagrams and Charts; Real World Example;

• Worksheet Problems for Accounting Equation, Debits, and Credits

  Real world examples of debits and credits and how to balance the accounting equation.

• The Accounting Structure: A Closer Look

  Recording Transactions; Source Documents; General Journal; General Ledger; Trial Balance

• Bookkeeping 101

  This lesson describes the differences between bookkeeping and accounting and the responsibilities, liabilities, and certification available in becoming a bookkeeper.

• Bookkeeping: Dos and Don'ts

  This lesson details how to effectively record data and the mistakes to avoid.

• The Accounting Cycle

  Learn 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.

• Inventory, FIFO, LIFO, Cost of Goods Sold

  In 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.

• Cash Flow, Fixed Assets, Depreciation

  Understanding positive and negative cash flow.

• Management Accounting

  This lesson focuses on how financial reporting can be used to achieve sales goals and productivity.

• Cash Flow Management

  This lesson addresses available working capital, cash flow analysis, and a well-balanced cash flow.

• Accounting Ratios: Liquidity, Solvency, and Profitability

  This lesson discusses accounting ratios and profitability to financially analyze a firm.

• Asset Management and Asset Valuation

  This lesson describes the accounting process of monitoring fixed assets and determining the current market value of a company's holdings.

• Payroll Accounting

  This lesson describes how to keep accurate payroll records, avoid mistakes, taxes due, and employee files.

• The Audit

  This lesson discusses the various kinds of audits, what to expected if audited, and the records needed.

• Ethical Business Practices in Accounting

  This lesson addresses the mandatory and accurate disclosure of profit and losses to investors of public companies (corporations) and the penalties for misrepresentations.