Financial Accounting-Debits & Credits-Accounting Transaction

  • Course provided by Udemy
  • Study type: Online
  • Starts: Anytime
  • Price: See latest price on Udemy
Udemy

Course Description

Includes downloadable e-book in multiple formats so you can open it on your tablet or Kindle - Formats (EPUB, MOBI, PDF).

Accounting Instruction Reference #100 is a book that sells on Amazon and is available in Kindle, Paperback, and audiobook format. Often times when we receive a book that is published on Amazon it is exciting until we find it is only in PDF format. The e-book we provide is in a format you can use on a tablet and Kindle.

Accounting core concepts will be covered, foundational accounting skills needed for all levels of accounting including the accounting terms, the double entry accounting system, and recording transactions using both the accounting equation and debits and credits.

These are the accounting fundamentals which most accounting courses spend far too little time on. The better we understand these accounting foundation topics, the better we will do in all accounting concepts.

Like practicing catch or going over those musical scales, practicing the accounting fundamentals is time well spent for beginners as well as experienced accountants. We are never too smart to practice the accounting fundamentals. This course will thoroughly cover the fundamentals and will provide a foundation for learning concepts that limit the likelihood of learning rules that do not always apply.

We also offer practical practice problems in Excel, along with step by step instructional videos to walk you through an example problem. Learning basic concepts in Excel while learning accounting concepts will advance our ability to learn both topics much faster. We will only cover very basic Excel tops, using step by step instruction, including learning how Excel names cells, how to add and subtract in Excel, and how to use the sum function.

This course will provide much more structure to the journal entry process than most courses, including a detailed step by step process for thinking about how to construct financial transactions. This process will eliminate the problem of getting stuck and not knowing how to move forward. The process will also help us understand the transactions we are recording and eliminate the problem of learning concepts that do not apply in all circumstances.

I am available for questions throughout the course. I have been teaching and working in accounting for a long time, have a lot of experience breaking down concepts, and enjoy working with new people.

Please join us in learning financial accounting concepts

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who whats to learn accounting

Course content

15 sections • 114 lectures • 18h 16m total length

  • Course Outline
    06:22
  • Download E-book Available Formats - (EPUB, MOBI, PDF) - Works on tablet & Kindle
    00:02

  • Why Learn Accounting Overview
    00:11
  • PDF - 1.5 Why Learn Accounting U
    00:08
  • Why Learn Accounting
    19:41
  • Notes - What is Accounting and Why Learn Accounting
    04:50
  • Describe Accounting Opportunities
    1 question

  • Accounting Objectives, Accounting Equation, & Ethics Overview
    00:29
  • PDF - 1.11 Accounting Objectives U
    00:08
  • Accounting Objectives
    09:24
  • Notes - Accounting Objectives
    01:27
  • PDF - 1.15 Accounting Equation
    00:08
  • Accounting Equation
    15:14
  • Notes - Accounting Assumptions
    02:42
  • PDF - 1.17 Lecture 3 Ethics, profession, and Generally Excepted Accounting u
    00:08
  • Ethics & Profession
    22:02
  • Notes - Ethics in Accounting
    04:13
  • Notes - Categories of Accounting
    01:45
  • Notes - Define and describe Generally Accepted Accounting Principles GAAP
    00:50
  • Discussion - Why is ethics important in accounting?
    1 question
  • Practice Short Calculation Test Questions Accounting Equation
    13:44

  • Financial Statements Overview
    00:37
  • PDF - 1.18 Balance Sheet Explained u
    00:08
  • Balance Sheet
    17:22
  • PDF - 1.20 Income Statement Explained u
    00:08
  • Income Statement
    13:24
  • PDF - 1.23 Statement of Owner's Equity u
    00:08
  • Statement of Equity
    10:49
  • PDF - 1.15 Balance Sheet & Income Statement Relationship
    00:08
  • Balance Sheet & Income Statement Relationship
    23:47
  • Notes - Business Categorization
    02:41
  • Notes - Financial Statements
    03:11
  • Discussion - Who are users of financial statements and what do the need?
    1 question
  • Practice Short Calculation Test Questions Accounting Equation
    16:33

  • Accrual Method vs Cash Method Overview
    00:38
  • PDF - 1.12 Revenue recognition principle u
    00:08
  • Revenue Recognition Principle
    08:49
  • PDF - 1.14 Cash Vs Accrual u
    00:08
  • Cash Method vs Accrual Method
    16:19
  • Notes - Accrual Basis and Cash Basis
    04:11
  • Notes - Accounting Equation and Account Types
    04:39
  • Discussion - Is cash the same as revenue?
    1 question
  • Practice Short Calculation Test Questions Accounting Equation
    10:06

  • Financial Transaction Rules & Thought Process Overview
    00:36
  • PDF - 1.18 Transaction rules for accounting equation u
    00:08
  • Financial Transaction Rules
    07:48
  • PDF - 1.19 Financial Transaction Thought Process
    00:08
  • Financial Transaction Thought Process
    11:52
  • Notes - Transaction Rules & Thought Process Using the Accounting Equation
    00:58
  • Notes - Transactions & The Accounting Equation
    04:39
  • Practice Short Calculation Test Questions Accounting Equation
    10:49

  • Recording Transactions Using Accounting Equation Overview
    00:47
  • PDF1.20 Cash Transactions
    00:08
  • Cash Transactions Accounting Equation
    16:25
  • Excel Worksheet
    00:05
  • Google Docs Worksheet - 10 Worksheet 1 Accounting Equation Cash
    00:27
  • Worksheet - Accounting Equation - Cash
    46:19
  • PDF - 1.30 Accounts Receivable Transactions
    00:08
  • Accounts Receivable Transactions - Accounting Equation
    25:22
  • PDF - 1.40 Accounts Payable
    00:08
  • Excel Worksheet
    00:05
  • Google Docs Worksheet - 20 Worksheet 3 Accounting Equation Accounts Payable
    00:27
  • Worksheet - Accounting Equation - Accounts Payable
    36:27
  • Practice Test Question - Accounting Equation
    15:52

  • Glossary - Part 1
    02:24
  • Midpoint Test in PDF Format
    00:08

  • Debits & Credits Defined Overview
    00:42
  • PDF - 2.05 Debits & Credits
    00:08
  • Debits & Credits
    15:49
  • Notes - Debits and Credits Notes
    03:05
  • PDF - 2.06 Debit Credit - One Rule To Rule Them u
    00:08
  • Rules for Using Debits & Credits
    18:27
  • Notes - Account Types & Normal Balances
    01:51
  • Discussion - Why are debits on the left and credits on the right?
    1 question

  • Debit & Credit Rules & Thought Process Overview
    00:36
  • PDF - 2.07 Debit and Credit Thought Process u
    00:08
  • Journal Entry Thought Process
    13:40
  • Notes - How to increase and decrease accounts
    22:41
  • PDF - 2.5 Trial Balance u
    00:08
  • Trial Balance
    15:02
  • Notes - General Ledger & Trial Balance
    04:13
  • Discussion - Explain the Steps in Processing Transactions
    1 question

Instructor

CPA, CGMA, M.S. Tax, CPI
  • 4.4 Instructor Rating
  • 19,840 Reviews
  • 429,895 Students
  • 113 Courses

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.

Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.

Expected Outcomes