Principles of Financial Accounting
Understand that accounting is the language of business and be able to record transactions using debits and credits
Updated on Sep, 2024
Language - English
Finance and Accounting,Accounting and Bookkeeping,Financial Accounting
Lectures -14
Resources -21
Duration -1.5 hours
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Course Description
This is an introductory financial accounting course that covers all the financial accounting concepts offered in an introductory financial accounting course at university or college.
Learn and Master the Financial Accounting Process:
Understand that accounting is the language of business.
Know business terminology (biz speak).
Understand the difference between a corporation and a single proprietorship.
Know the three forms of business - a service company, a merchandise company and a manufacturer.
Understand an Income Statement and how to prepare one.
Understand a Balance Sheet and how to prepare one.
Know how to analyse and record business transactions.
Learn how to use debits and credits to record business transactions.
Know how to use the accounting journal and ledger.
Complete a set of accounting records for a service business using Excel spreadsheets.
Complete a set of accounting records for a merchandise company using an Excel spreadsheet.
Goals
- Know how to identify a business transaction.
- Be able to record transactions using debits and credits.
- Be able to post to the ledger.
- Prepare an income statement and balance sheet.
- Complete the accounting records for a small business.
Prerequisites
- some understanding of Excel.
Curriculum
Check out the detailed breakdown of what’s inside the course
Accounting the Language of Business
2 Lectures
-
Introduction to Accounting
14:06
14:06
-
Interactive exercises
00:16
00:16
Know how to present the Income Statement and Balance Sheet
3 Lectures
Introduction to Analyzing Business Transactions
2 Lectures
Introduction to Debits and Credits
1 Lectures
Know how to Journalize Business Transactions
1 Lectures
Introduction to Adjusting entries
1 Lectures
Practice Set - Fraser's Golf Academy
3 Lectures
Instructor Details
Dr. John McLellan
I am a Professor of Management Accounting and Control Management with over thirty-five years of experience teaching
accounting to college students, undergraduate and MBA university students as well as CMA candidates seeking to earn their Professional Certified Management Accountant Designation.
I earned the Certified Management Accountant Designation 40 years ago. With that I then earned my Master of Business Administration degree and later a Ph.D. in accounting. I also have earned the Certified Quality Auditor certification.
My passion is online teaching. I have over 400 instructional videos on my YouTube channel “Your Accounting Prof” and I have created over 30 management and accounting courses on various online platforms.
Dr. John
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