Essentials Of Accounting 2023

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The foundation of Financial Accounting, including debits & credits, T-Accounts and General Journals.

What you'll learn
Learn about the accounting nature of assets, revenue, liabilities, and account receivables.
Prepare the building blocks in financial accounting, T-Accounts & General Journals.
Understand the proper accounting treatment of nuanced accounts such as revenue recognition and credit card sales.
Learn and apply all the knowledge imparted in a class assignment.

Requirements
No financial accounting background required, you will learn the fundamentals.

Description
Accounting is a good supplementary skill to have because it allows business owners and managers to have a better grasp of how transactions within their organisation will be treated (e.g., "can I recognise this sum of cash as revenue"). The end goal of accounting is to empower owners and/or managers to make sound decisions in their businesses for sustainable and steady growth.This course focuses on the fundamental accounting concepts principles, transaction recording, and accounts drafting. As it is a bner course, we will not be preparing full-fledged financial statements, but will be focusing on the prerequisites of those. Accounting places a lot of emphases on accuracy and correctness, I believe it is a bottom-top topic, where foundational knowledge and attention-to-detail is key to being a strong accountant. Personally, I've taken financial accounting as a subject and learnt from different educators over a period of 6 years, and have served as a guide for my peers regarding this field and am brig this value to you now! So if you are a meticulous and process-oriented person who have not yet picked up accounting, this class might just be the one for you!Hope you enjoy the classes and resources I prepared. Do feel free to reach out if you have any queries! :)

Overview
Section 1: Introduction

Lecture 1 Introduction

Section 2: Main lessons

Lecture 2 Five Main Accounts in Financial Accounting

Lecture 3 T-Accounts & General Journals

Lecture 4 Other Common Accounts

Lecture 5 Closing of T-Accounts

Lecture 6 Income, Revenue, & Gains

Lecture 7 Sales Discounts & Credit Card Sales

Lecture 8 Accounts Receivables

Lecture 9 Inventory & COGS (Inventory Equation, Matching Principle & COGS)

Lecture 10 Inventory & COGS (Cost Flow of Inventory & Inventory Valuation)

Lecture 11 Inventory & COGS (Perpetual vs Periodic Inventory Systems)

Section 3: Conclusion Video

Lecture 12 End

Intended learners are entrepreneurs, home-based owners, and really anyone who has no financial accounting background. Having a foundational grasp of financial accounting knowledge helps us better understand how a given transaction affects the firm/organisation's financial status.

HomePage:

https://www.udemy.com/course/essentials-of-accounting/

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