What You'll Learn
- Introduction to Accounting Fundamentals
- Exploring the Importance of Accounting
- Recognizing the Core Principles of Accounting
- Understanding Assets, Liabilities, and Equity
- Basics of Double-Entry Bookkeeping
- Defining Debits and Credits in Accounting
- The Role of an Accountant
- Understanding the Accounting Cycle
- The Steps in the Accounting Cycle
- Analyzing Business Transactions
- Journalizing Business Transactions
- The Role of the Trial Balance in Accounting
- Making Adjusting Entries
- Preparing Financial Statements and Closing Entries
- Basics of Journal Entries
- The Purpose of Journal Entries in Accounting
- How to Record Transactions in Journals
- Understanding T-Accounts
- Journalizing Sales and Purchases
- Journal Entries for Cash Transactions
- Mastering the Process of Journalizing Adjusting Entries
- The Art of Posting to the Ledger
- Introduction to Ledgers in Accounting
- Posting Journal Entries to the General Ledger
- The Accounting Cycle: From Journal to Ledger
- The Balance Sheet Ledger Accounts
- Income Statement Ledger Accounts
- The Cash Ledger and Bank Reconciliation
- Introduction to Financial Statements
- Understanding The Purpose of Financial Statements
- How the Income Statement Works
- Mastering the Balance Sheet
- The Statement of Cash Flows Explained
- The Role of the Statement of Retained Earnings
- The Art of Interpreting Financial Statements
- Understanding Accounts Receivables and Payable
- Defining Accounts Receivable and Accounts Payable
- The Importance of Managing Receivables and Payables
- Methods of Accounting for Receivables
- Aging Report and Its Relevance to Business
- Handling Payment Terms and Discounts
- Write-offs and Bad Debt Provisions
- Basics of Inventory Accounting
- Inventory Types and Costing Methods
- Tracking and Valuing Inventory
- Impact of Inventory Management on Financial Statements
- Perpetual vs. Periodic Inventory Systems
- Accounting for Inventory Purchases and Sales
- Introduction to FIFO, LIFO, and Weighted Average Costing
- Understanding Depreciation and Amortization Techniques
- Asset Life Cycle and Depreciation Concepts
- Calculating Depreciation Using Different Methods
- Recognizing Amortization of Intangible Assets
- Maintaining Fixed Asset Registers
- Depreciation and Tax Implications
- Impairment of Assets and Revaluation
- Introduction to Tax Accounting
- Understanding the Basic Tax Principles
- Sales Tax and VAT Fundamentals
- Accounting for Income Taxes
- Tax Deductions and Credits for Businesses
- Payroll Taxes and Compliance
- Preparing for Tax Audits and Handling Discrepancies
- Ethical Practices in Accounting
- The Importance of Ethics in Accounting
- Identifying and Preventing Fraudulent Activities
- Understanding the Regulatory Environment
- Maintaining Confidentiality and Data Security
- The Impact of Ethical Behavior on Business Reputation
- Case Studies on Ethical Dilemmas in Accounting