Course
Accounting Fundamentals
Name
ACC-3150JE
Available Classes
    Section Location Begin Date End Date Instructor Price Seats Available/Total Seats
293633 Online 05/15/2024 07/05/2024 EDUCATION TO GO $77.00 19/20
Description Course Outline Requirements Intended Audience More Details
Intended Audience
The course is intended for accounting professionals.
Description
The demand for accounting professionals currently exceeds supply, so if you're interested in increasing your financial awareness while gaining a marketable skill, this course is for you. This course offers a solid foundation in financial matters. You'll learn the basics of double-entry bookkeeping, along with how to analyze and record financial transactions.
Course Objectives
  1. have covered all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period
  2. have learned learn the basics of double-entry bookkeeping.
  3. have learned how to analyze and record financial transactions.
Outline of Instruction
  1. Wednesday - Lesson 01

    Welcome to Accounting Fundamentals! In this first lesson, you'll learn all about account classifications, debits, credits, and T accounts. You'll learn the difference between a liability and an asset, and you'll find out how to determine an owner’s equity.
  2. Friday - Lesson 02

    Here's where you'll begin your hands-on accounting practice: You'll start by creating an imaginary company for which you'll be the accountant. You'll learn how to analyze your company's transactions to determine which amounts go into which accounts, then you'll create your company's own General Ledger forms and post a few transactions into those accounts. You'll also prepare a Balance Sheet to prove your accounting equations.
  3. Wednesday - Lesson 03

    Now that you have an understanding of the functions of the General Ledger, you're ready to move on to the next phase of recording transactions: the Journal. In this lesson, you'll learn how to enter transactions into an 11-column journal and then post or transfer those amounts into appropriate General Ledger accounts.
  4. Friday - Lesson 04

    In this lesson, you'll learn all about Accounts Payable--money that you owe your vendors and suppliers. You'll practice journalizing cash purchases and purchases on account, and you'll get hands-on practice transferring those purchases to their corresponding Accounts Payable Ledger accounts.
  5. Wednesday - Lesson 05

    In this lesson, you'll learn about Accounts Receivable, which is another name for money owed to your company by its customers. You'll learn how to journalize and post those sales on account, how to enter charge sales into the journal, and how to transfer the information into an Accounts Receivable Ledger.
  6. Friday - Lesson 06

    It's payday! This lesson will teach you how to determine gross pay, deductions, and net pay. You'll learn how to prepare a payroll, write payroll checks, and how to prepare and maintain accurate payroll records.
  7. Wednesday - Lesson 07

    In this lesson, you'll learn all about banks and banking services: You'll learn the proper way to write checks, make out deposit tickets, and reconcile your company's checking account with the bank statement--skills you'll find valuable in both your business and personal life!
  8. Friday - Lesson 08

    This lesson will teach you how to prepare a Schedule of Accounts Payable and a Schedule of Accounts Receivable. These reports can be used to compare the amount of money your business owes its creditors with the amount of money your customers owe your business.
  9. Wednesday - Lesson 09

    In this lesson, you'll prepare a worksheet showing the net income or net loss for the fiscal period. The worksheet will show all income and expenses for the fiscal period as well as the assets, liabilities, and owner’s equity account balances.
  10. Friday - Lesson 10

    In this lesson, you will learn how to prepare various reports that are vital to the well-being of your company. You'll learn how these reports can be used to make sound financial decisions in the next fiscal period. You will discover how to put together an Owner’s Equity Statement, an Income Statement, and a Distribution of Net Income.
  11. Wednesday - Lesson 11

    In this lesson, you'll prepare for the end of the fiscal period by adjusting your asset account balances to accurately reflect the assets remaining at the end of the year. You will also find out how to journalize and post adjusting and closing entries to bring your company's General Ledger up to date.
  12. Friday - Lesson 12

    In our final lesson, we will prepare a Post Closing Trial Balance report to ensure that all of our debits and credits in the General Ledger balance out in preparation for the new fiscal period.
Contact Hours
24
CEU's
2.4
Industry Standard, State, or National Certification
No
CE to CU Articulation
No
Prerequisites
Text and Supplies Needed
Internet access
• Email
• One of the following browsers:
o Mozilla Firefox
o Microsoft Internet Explorer (9.0 or above)
o Google Chrome
o Safari
• Adobe PDF plug-in (a free download obtained at Adobe.com .)


Acrobat Reader, and access to a calculator or adding machine, and a printer.
Clinical Site/Special Facilities
Requirements for Successful Completion of this Course
  1. Attendance 80% or above
  2. Participation
  3. Students must score 70% or better on 10 quizzes or 70% or better on the final exam.
Accreditation/Special Approval Requirements
Intended Audience
The course is intended for accounting professionals.
Specific Industry or Business Support Needs
Industry or Job Titles Related to training Outcomes for Employment
Related Courses
Course Contact Information
919-532-5847