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Course Description

In this comprehensive course, you will learn the basics of double-entry bookkeeping, as well as how to analyze and record financial transactions. You will get hands-on experience with handling accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities.

Accounting Fundamentals covers all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Whether you're a sole proprietor looking to manage your business finances or you simply want to gain an understanding of accounting basics for career advancement or for personal use, this course will give you a solid foundation in financial matters.

Course Outline

1. Account Classifications, Account Titles, T Accounts, and the Accounting Equation
2. General Ledger Accounts and the Balance Sheet
3. Journalizing Transactions and Posting to the General Ledger
4. Journalizing and Posting Cash and Charge Purchases and Payments on Account
5. Journalizing and Posting Cash and Charge Sales and Cash Received on Account
6. Payroll and Various Deductions
7. Banking Services and Reports
8. Posting Journal Totals to the General Ledger and Schedule of Accounts Payable and Schedule of Accounts Receivable
9. End-Of-Year Worksheet
10. End-Of-Year Financial Reports
11. Journalizing and Posting Adjusting Entries
12. Journalizing and Posting Closing Entries and Preparing a Post Closing Trial Balance
 

Notes

A new session of each course starts monthly. If enrolling in a series of two or more courses, please be sure to space the start date for each course at least two months apart. All courses run for six weeks, with a two-week grace period at the end. Two lessons are released each week for the six-week duration of the course. You do not have to be present when lessons are released. You will have access to all lessons until the course ends. However, the interactive discussion area that accompanies each lesson will automatically close two weeks after the lesson is released. As such, we strongly recommend that you complete each lesson within two weeks of its release.

The final exam will be released on the same day as the last lesson. Once the final exam has been released, you will have two weeks to complete all of your course work, including the final exam.

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