Accounting Fundamentals
Student Reviews
- Excellent course. I liked using a restaurant as a model and designing a web page - I learned a great deal about site design and am beginning the design of another site.
- Thank you so much for the great information and advice given in this class. It was very helpful and I'm sure it will help me start my own business in web design. It will take awhile to take in all that we have covered but I'm sure my new business will be underway soon.
- The course material was and will be very useful to me. It answered a lot of my questions, introduced me to new web page development methods, and provided good material for use as I work to improve the web site that I helped build and help maintain.
- This course was extremely helpful to my pursuit of web design knowledge, on many levels, especially organization and development, which I came to discover are just as important as technical issues!
- What a great learning experience! My instructor was great. I was able to complete the class without missing any important part of my life. I am convinced that online learning is the new classroom for busy individuals. I just wish I had took the advice of my daughter and started sooner. I do not have one complaint. It was a great learning experience for this 56 year old lady. Thanks for having this at my disposal.
- You have been extremely "hands on" with us, a wealth of info and very pleasant. You always answer promptly and personally. For the first time, I've felt like part of a class even though I'm alone here at my computer. You made me feel comfortable to ask anything and as often as I needed.
Class Details
Demand for accounting professionals currently exceeds supply. If you're interested in increasing your financial awareness and accountability while also gaining a marketable skill, this course is for you. You'll learn the basics of double-entry bookkeeping, while also learning how to analyze and record financial transactions, as well as prepare various financial reports at the end of the fiscal period. Accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities will be discussed. We'll cover all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Suitable for either a small business or an individual household, this course is sure to increase financial awareness and accountability.
Session Start Dates:
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.
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.
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.
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.
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.
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.
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!
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.
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.
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.
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.
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.
This course includes a knowledgeable and caring instructor who will guide you through your lessons, facilitate discussions, and answer your questions. The instructor for this course will be Charlene Messier.
Internet access, e-mail, the Microsoft Internet Explorer or Mozilla Firefox Web browser, and the Adobe Flash and PDF plug-ins (two free and simple downloads you obtain at http://www.adobe.com/downloads by clicking Get Adobe Flash Player and Get Adobe Reader).
