Basic Bookkeeping Topics Within Accounting
Learning the Process from Journal Entries Through Financial Statements
Financial Accounting,Accounting & Bookkeeping,Finance & Bookkeeping
Lectures -13
Resources -10
Duration -1 hours
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Course Description
Hello everyone and welcome to our "Basic Bookkeeping Topics Within Accounting" course. In this course we will discuss the basic bookkeeping aspect of financial accounting. Specifically, we will learn the concept of debits and credits and how to determine the balance of any account. From there, we discuss the "normal" balances of accounts (i.e. how to increase an account.) We will also learn how to use those concepts to prepare initial and adjusting journal entries, post them to the T accounts/general ledger accounts, and create financial statements. The financial statements include the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows. Finally, we will prepare and post closing entries to end the accounting period. Along the way we will be discussing three different types of trial balances: unadjusted, adjusted, and post closing. This course includes text materials, as well as various videos that have been embedded into the course. This is a free course to provide you with the basics of bookkeeping to get you started in the field of accounting. I hope you find that you enjoy it as much as I have. I look forward to working with you throughout the course.
Goals
After you have completed this course you should have a better understanding of the basic steps in financial accounting and how companies use this information to properly communicate the results to external parties. This is just an entry level course, but there are other courses that go into much more detail.
Prerequisites
There are no prerequisites to this course. We are going to start off at the ground level and work through the basics of financial accounting and bookkeeping.
Curriculum
Check out the detailed breakdown of what’s inside the course
Introduction
2 Lectures
- Overall Video - Bookkeeping Mechanics Part 1 34:36 34:36
- Overall Video - Bookkeeping Mechanics Part 2 29:41 29:41
Basic and Expanded Accounting Equation
1 Lectures
Accounting Cycle
1 Lectures
Normal Balances of Accounts
1 Lectures
Initial Journal Entries
1 Lectures
Accrual vs. Cash Basis of Accounting
1 Lectures
Adjusting Journal Entries
1 Lectures
Financial Statements
4 Lectures
Closing Journal Entries
1 Lectures
Instructor Details
Chris Severson
I have a Master of Professional Accountancy Degree (MPA) from the University of Nebraska-Lincoln. I have been teaching accounting part time, both face to face and online since 2008. I work as the manager of our Audit training area, managing the training plan and course development for 150 auditors nationwide. My work history includes reviewing, preparing, and presenting course material for the Becker Professional CPA Review.
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