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Financial Accounting Part I - Passing the Class

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  • 567 Students
  • Updated 9/2023
4.4
(74 Ratings)
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Course Information

Registration period
Year-round Recruitment
Course Level
Study Mode
Duration
5 Hour(s) 51 Minute(s)
Language
English
Taught by
Chris Severson
Rating
4.4
(74 Ratings)

Course Overview

Financial Accounting Part I - Passing the Class

Master the Basics of Accounting to Pass The Class or Enhance Your Career (Textbook and Templates Included)

Accounting is often referred to as the “language of business.” Whether you are going into management or actually going to be an accountant, you need to be familiar with the basics of accounting. This includes understanding the concepts of debits and credits, assets and liabilities, revenues and expenses, dividends and equity. From an investor’s perspective, the business results are communicated through the financial statements, including the income statement, statement of owner’s equity, balance sheet and statement of cash flow. These are all discussed in this course!   

This course is for those students who have not had much (or any) experience in accounting and are looking to enhance their understanding of it, to either help pass a course or to enhance your business career. It is for anyone who may have felt lost in prior accounting courses and wants real life examples and a down to earth explanation, rather than something read word for word out of a textbook. Is this you? Then you are in the right place!  

This course is taught by an instructor with over eleven years of training experience, including corporate training, face to face instruction, and online course development. In addition to the lectures and study material common to many other courses, this course also has a downloadable textbook/study note file, along with downloadable Excel templates paired with a lecture walking through the solution once you are done. To test your knowledge of the basic concepts we also have quizzes after each section to make sure you feel comfortable with the topic before moving on to the next one.  

At the end of this course, you will have a better understanding of the mechanics of accounting, the concepts, and the goals of accounting in general. You will be able to pass that class!! Let’s get started!

Course Content

  • 9 section(s)
  • 48 lecture(s)
  • Section 1 Welcome To Financial Accounting Part 1!
  • Section 2 History and Purpose of Financial Accounting
  • Section 3 Financial Accounting - Mechanics
  • Section 4 Adjusting and Closing Entries
  • Section 5 Accounting Topics - Cash and Internal Controls
  • Section 6 Accounting Topics: Inventory
  • Section 7 Accounting Topics: Accounts Receivables and Bad Debts Expense
  • Section 8 Accounting Topics: Fixed Assets and Depreciation
  • Section 9 Final Wrapup

What You’ll Learn

  • Understand the history of accounting and why it is important
  • Understand the basic accounting process
  • Determine the normal balances of accounts (debits or credits)
  • Record a journal entry for basic transactions
  • Understand the difference between accrual and cash basis accounting
  • Record adjusting and closing journal entries at the end of the period
  • Post journal entries to T accounts or the general ledger.
  • Understand the basic format of the four required financial statements (Income Statement, Statement of Stockholder's Equity, Balance Sheet, and Cash Flow Statement)
  • Process inventory transactions and calculate the cost of goods sold and ending inventory
  • Prepare a bank reconciliation of cash
  • Determine accounts receivables and bad debt expense under multiple methods
  • Document the journal entries for capitalized assets, including purchase, depreciation, and sale of the assets


Reviews

  • S
    Scott Ferrin
    5.0

    Informative and presented at a good pace

  • C
    Caleb Bartrum
    3.0

    so far

  • J
    JE A
    4.5

    This course is more than what I expected, I am very pleased.

  • L
    Lynnette Price
    5.0

    The introduction was informative, the explanation of each section is good, but I am a hands on learner, I feel I would understand better if there were worksheet modules for each section. I like the hands on spreadsheets at the end of the course for depreciation.

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