Rating 4.17 out of 5 (3 ratings in Udemy)
What you'll learn- Learn what accounting is and who are the users of your business financial information
- Learn what the balance sheet, income statement, and statement of cash flow are and what are the components of each
- Learn what accrual accounting is and what the revenue, matching, and cost principles mean and how each applies to accrual accounting
- Learn what debits and credits are and what a double-sided entry is and how to create journal …
Rating 4.17 out of 5 (3 ratings in Udemy)
What you'll learn- Learn what accounting is and who are the users of your business financial information
- Learn what the balance sheet, income statement, and statement of cash flow are and what are the components of each
- Learn what accrual accounting is and what the revenue, matching, and cost principles mean and how each applies to accrual accounting
- Learn what debits and credits are and what a double-sided entry is and how to create journal entries
- Learn what the accounting equation is and learn why every business transaction affects the equation
- Learn the process of long-term asset cost allocation through the process of depreciation
- Learn the process of writing-off uncollectible accounts
- Learn financial ratios that all business owners need to know in order to operate their business effciently
- Learn how to reconcile your business bank account to the bank statement
- Learn what the chart of accounts is and how to tailor it to your business needs
DescriptionThis course is for small retail/service business owners, retail store managers, department managers, ecommerce entrepreneurs, accounting students, or for anyone wanting to learn basic accounting.
In this course, you will learn:
You will learn basic accounting in order to record and analyze business transactions through the three major financial statements: Income Statement, Balance Sheet, and Statement of Cash Flow.
You will learn what debits and credits are, how to create journal entries, learn what normal account balances are, and what permanent and temporary accounts are.
You will learn what the all important accounting equation is and learn why every business transaction affects this equation.
You will learn what adjusting entries are during the accounting period close process.
You will learn long-term asset cost allocation through depreciation.
You will learn inventory systems and inventory costing methods.
You will learn how to record uncollectible receivables.
You will learn the accounts payable process and invoicing payment terms.
You will learn financial ratios that every business owner and manager need to know in order to operate their business effectively.
You will learn how to reconcile your business bank account.
You will learn what the chart of accounts is and why you should tailor it to your specific business needs.
