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