Online Class: Accounting & Bookkeeping 101 for Everyone
with CEU Certificate*
have taken this course
Unlocking the World of Accounting: An All-Inclusive Online Course
Welcome to a transformative journey into the intricate world of accounting and bookkeeping. In the modern business landscape, understanding accounting goes far beyond the simple act of balancing books. It's an art and science that informs how we view financial health, viability, and sustainability.
This extensive online course, "Accounting and Bookkeeping 101", is meticulously crafted with the novice in mind. Whether you're a budding entrepreneur or a professional seeking to broaden your financial literacy, our course offers a comprehensive exploration into accounting, ensuring you grasp the essential foundations. Designed for those with little to no prior knowledge, our modules delve deep into fundamental principles, illustrated with rich examples to aid comprehension.
Introduction to Accounting: Discover the indispensable nature of accounting and why it remains a pivotal skill in today's corporate landscape. For instance, did you know that according to recent statistics, over 80% of business failures attribute their collapse to poor financial management? Such insights emphasize why mastering accounting is crucial.
The History of Accounting: Trace back to ancient civilizations like Mesopotamia and Egypt, unearthing the evolution of accounting. Learn how the needs of empires and the complexities of trade birthed the foundational principles we employ today.
Fundamental Principles: From understanding terms like "revenue" and "net income" to dissecting the accounting equation, immerse yourself in the backbone of modern-day accounting. For instance, grasp how the accounting equation forms the basis for the double-entry system, a method used universally.
Financial Reports & Their Insights: Dive into balance sheets, income statements, and cash flow statements. For example, did you know that Apple's 2020 balance sheet reported a total of $143.8 billion in net receivables?
Bookkeeping Mastery: Unveil the nuances of proper record-keeping, the potential pitfalls, and the best practices that ensure financial transparency.
Advanced Topics: Delve into intricate topics like inventory management methods (FIFO, LIFO), asset management, cash flow intricacies, and more. Understand the profound impact of seemingly minor decisions. For instance, FIFO and LIFO can significantly alter reported profit, influencing stock prices and tax liabilities.
Specialized Accounting: From payroll accounting, which ensures timely and accurate employee payments, to the rigorous world of audits that validate financial accuracy, delve into specialized realms that cater to specific business needs.
Ethical Considerations: In an era where corporate scandals can cripple giants like Enron, understand the profound importance of ethical accounting practices and the role they play in ensuring long-term business viability.
By Course End:
Upon completing this course, you'll wield the knowledge and confidence to navigate the complex corridors of financial statements, ensuring you're never left in the dark. You'll understand the logic behind crucial business decisions, be it in managing cash flows, assessing profits, or even evaluating a company's long-term solvency.
Moreover, you'll be equipped with an invaluable skillset that enhances your professional trajectory, irrespective of your field. As stated by a recent Forbes article, "In today's data-driven age, understanding financial metrics is a non-negotiable skill, irrespective of one's role."
So, embark on this enlightening journey with us. Decipher the language of business, and unlock a world of opportunities. Enroll now and elevate your professional prowess!
Who is the target audience for this course?
Is accounting hard to learn if you're not good at math?
What exactly does this accounting course include?
Is there an instructor available if I have a question or don't understand something?
Does UniversalClass offer more advanced accounting courses after this one?
What kind of certificate do I get if I complete this course?
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.
Empowering Your Financial Future: A Journey Through Accounting
In today's rapidly evolving world, understanding the fundamentals of accounting is more than just a skill—it's a catalyst for personal and professional success. From managing household budgets to navigating the complex financial landscapes of businesses, the ability to comprehend and apply accounting principles is invaluable.
Consider financial reports, balance sheets, and bank statements. These are not just documents but tools that, when mastered, unlock a world of financial clarity and control. For many, the intricate details of accounting may seem daunting, akin to learning a new language. But just as learning a foreign language can open doors to new cultures and opportunities, mastering the language of business – accounting – can transform your approach to money management.
For large corporations and affluent individuals, delegating these tasks to CPAs and bookkeepers is commonplace. But what about the rest of us? For the average person, acquiring a fundamental understanding of accounting is not just beneficial; it's crucial for gaining a competitive edge in life's financial game.
This course, "Financial Empowerment through Accounting," is designed to provide a comprehensive foundation in accounting, bookkeeping, and finance for those not necessarily pursuing a career in these fields. It's akin to a fitness program for your finances - self-paced yet challenging enough to ensure real learning rather than just a superficial overview.
Spread over 24 detailed lesson plans, this course aims to accomplish several key objectives:
Fundamental Understanding of Accounting Concepts: Like the roots of a tree, these concepts form the base of your financial knowledge, supporting and nourishing your growth in understanding complex financial scenarios.
Interpreting Financial Statements: Imagine being able to decipher a story from a series of numbers on a page. That's what financial statements offer – narratives about the health and prospects of a business, including your own.
Enhancing Personal and Business Finances: This is where the theoretical meets the practical. Applying these concepts can lead to more informed personal financial decisions and strategies to bolster your business’s bottom line.
Pathway to Profitable Entrepreneurship: Think of this course as a launchpad. It's not just about balancing books but about equipping you with the acumen to turn ideas into profitable ventures.
Moreover, understanding accounting places you firmly in the driver's seat of your financial journey. It's about taking the wheel, rather than being a passenger in your financial life. No more guessing where your money is going, no more unnecessary overdraft fees, and no more being at the mercy of financial uncertainties.
In our fast-paced, global economy, where time is a non-renewable resource, this knowledge is priceless. Enrolling in this course takes but a moment, yet the rewards extend far into your future.
Imagine this: You're no longer perplexed by complex financial jargon. Instead, you're making informed decisions, saving money, and spotting opportunities where others might see obstacles. Your newfound knowledge not only improves your personal financial health but also enhances your business’s profitability, paving the way for successful entrepreneurship.
This course isn't just an educational journey; it's a transformative experience that equips you with the tools to navigate the financial aspects of your life with confidence and expertise. It's an investment in yourself that pays dividends in the form of financial literacy and independence.
So, if you're ready to stop watching your hard-earned money slip through your fingers, if you're determined to take control of your financial narrative, and if you're eager to lay a foundation for lasting success, this course is your stepping stone. Enroll now and embark on a journey to financial empowerment that will last a lifetime.
- Completely Online
- Printable Lessons
- Full HD Video
- 6 Months to Complete
- 24/7 Availability
- Start Anytime
- PC & Mac Compatible
- Android & iOS Friendly
- Accredited CEUs
Introduction to Accounting: Why accounting is a necessary skill
The History of Accounting
The Fundamentals of Accounting
Assets, Liabilities, and Owners' Equity
The Income Statement
The Income Statement: Understanding Revenue, Expenses, Income, and Retained Earnings
Worksheet Problems: Income Statement, Revenue, Expenses, Net Income
The Balance Sheet
Worksheet Problems: The Balance Sheet
Worksheet Problems for Accounting Equation, Debits, and Credits
The Accounting Structure: A Closer Look
Bookkeeping: Dos and Don'ts
The Accounting Cycle
Inventory, FIFO, LIFO, Cost of Goods Sold
Cash Flow, Fixed Assets, Depreciation
Cash Flow Management
Accounting Ratios: Liquidity, Solvency, and Profitability
Asset Management and Asset Valuation
Ethical Business Practices in Accounting
- 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.
- Demonstrate mastery of lesson content at levels of 70% or higher.
Additional Course Information
- Document Your Lifelong Learning Achievements
- Earn an Official Certificate Documenting Course Hours and CEUs
- Verify Your Certificate with a Unique Serial Number Online
- View and Share Your Certificate Online or Download/Print as PDF
- Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
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- "It was very helpful. I am in a new career and will soon experience all these concepts first hand. I will definitely use the material and will revisit chapters when necessary." -- John P.
- "I enjoyed this course a lot, great learning tools and it helped me a lot. I really appreciated the experience and I liked the method of presentation. Thanks!" -- Kendall J.
- "I liked this course very much. I found a lot of new and useful information for my life and work too. Also, I would like to thank my teacher Dr. Stojanovski for correcting and explanation of my mistakes. I thank you and your platform Universal Class and for this great opportunity to obtain a new skill. Wish you all the best!" -- Daisy M.
- "My instructor was very collaborative and helpful. I am truly grateful for all that he did. He contributed greatly to my enthusiasm and success in this course." -- Anna N.
- "This course was exactly what I needed and have already suggested it to my co-workers. I thought the instructor was very available and his format was organized and easy to follow. The assignments seemed always to directly reinforce the content of the lesson." -- Barb S.
- "Instructor was very helpful and his feedback was really very fast. He gave me respond in about 24 hours or less. The most important - he not only correct me, but also explained some issues what first I understood incorrectly. He is really great." -- Ewa D.
- "The professor was great with his communication, and must have repeatedly forgotten who I was since it took me so long to finish the course, but I was actually studying it every week. I have learned a huge amount in this time. I would recommend this instructor to anyone." -- John B.
- "Thank you for this course, I learned a lot about it." -- Aracely H.
- "The instructor kept in contact when I had questions and explained why the answers were incorrect." -- Robin M.
- "I thought the instructor for this course was wonderful. She made everything easy to understand. You can always tell when you have stumbled across a great instructor when you take difficult course material and make it simple. Great instructors make learning enjoyable and I would definitely take another course from her!!" -- Kelly H.
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