Accounting Principles

Accounting is essential topic that convert all monetary occasions of the enterprise into figures which permit managers and different customers to report, analyze, and take choices that assist to learn the monetary place of a enterprise and challenge future outcomes.

I constructed this course utilizing a number of dependable sources in Accounting. The content material relies on U.S. GAAP Accounting requirements, I additionally used my very own information and expertise which I earned all through my profession for greater than 15 years. Currently, I’m working as Finance Manager in a contracting firm. At the identical time, I like to show and share my information with everybody serious about Accounting. It took me two years to make this content material obtainable for you, I made positive every info is legitimate and reliable.

This course will stroll you thru all of the fundamentals of Accounting for proprietorship corporations that are owned by one particular person or entity. We will begin with the fundamentals from scratch for service corporations, after which all the best way as much as merchandising operations together with main matters of stock costing, money and money equal, commerce receivables, plant property, pure sources, intangibles, and primary monetary evaluation. After every part, I’ll apply with you a full train. Together, we’ll study and apply the small print step-by-step. There are additionally seven quizzes obtainable to check your perceive.

Course Content

This course is complete, it covers the fundamentals of Accounting as comply with:

• What is Accounting? And the way it identifies, document, and report monetary occasions.

• Who are the customers of Accounting? That embody each inside and exterior customers.

• What is GAAP? And why it is very important comply with Accounting requirements in recording and reporting monetary information.

• Basic ideas of Accounting together with historic price, accrual foundation, matching precept, and rather more!

• Accounting equation, and it signify how property are financed by each liabilities and house owners’ fairness.

• Debits and credit and double-entry system.

• Chart of accounts.

• Journalizing, posting, trial steadiness.

• Adjusting entries for accruals and deferrals.

• Closing entries and post-closing trial steadiness to shut the interval.

• Prepare monetary statements together with earnings assertion, labeled steadiness sheet, and assertion of adjustments in fairness.

• Accounting for stock purchases and gross sales utilizing perpetual system.

• Closing entries in merchandising operations, and the way it’s completely different than closing entries for service corporations.

• How multiple-step earnings assertion is required for merchandising corporations.

• Inventory costing strategies together with particular identification, first-in first-out, last-in first-out, and weighted common methodology.

• Inventory valuation utilizing “lower of cost or market (LCM)”.

• What is money and money equal? And find out how to account for restricted money, financial institution overdrafts, and petty money.

• How to organize financial institution reconciliation.

• What are the forms of receivables?

• Valuing account receivables utilizing direct write-off, and allowance strategies.

• Notes receivable and find out how to document & report them.

• How to find out the price of plant property?

• What is depreciation, depletion, and amortization?

• Methods of depreciation together with straight-line, units-of-activity, and declining-balance strategies.

• How to account for pure sources and intangibles?

• Basic monetary statements evaluation utilizing each vertical and horizontal evaluation.

Who this course is for:

• Students in any academic establishment
• Professionals who’re serious about Accounting
• Accountants who need to develop their expertise
• Business Owners
• Everyone search to study Accounting and all about the way it works