Accounting 1 Simplified for You

Your no-nonsense guide to understanding accounting principles in easy to follow explanations and step-by-step examples.
4.4 (81 ratings)
Instead of using a simple lifetime average, Udemy calculates a
course's star rating by considering a number of different factors
such as the number of ratings, the age of ratings, and the
likelihood of fraudulent ratings.
2,369 students enrolled
Instructed by Majo Jacinto Business / Finance
67% off
Take This Course
  • Lectures 13
  • Length 4.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works


Find online courses made by experts from around the world.


Take your courses with you and learn anywhere, anytime.


Learn and practice real-world skills and achieve your goals.

About This Course

Published 11/2014 English

Course Description

Accounting 1 Simplified for You - is a unique, no-nonsense and meaningful way of understanding accounting basics by illustrating how business transactions are recorded in simple terms and step-by-step easy to follow exercises. Discover how easy it is to prepare financial statements and design your own accounting information system.

Empower yourself with the advantage of knowing and understanding your organization's economic conditions through financial statements. Possess the ability to convert data into information that is meaningful to you. Convert your fear in accounting to confidence based on understanding the "jargon" in your own terms. Sharpen your analytical skills and empower yourself with understanding accounting for your business.

In this class, you will have a series of thoughtfully prepared video lectures, using real-life business examples and practice exercises after each section to reinforce your learning. Dr. Jacinto promotes and encourages lively discussions and feedback sessions. All your questions directly related to the topic will be answered within 24 hours. This course is ideal for college business and accounting students, bookkeepers, business owners, managers and anyone who wants to better understand accounting in business in a way that makes sense to you. This is an excellent study guide and supplement for students in accounting and those who are looking for a quick refresher. This course is an excellent complement to Accounting 2 Simplified You.

What are the requirements?

  • Ability to add, subtract, multiply and divide.
  • Analytical Skills
  • Patience and willingness to learn

What am I going to get from this course?

  • Design an accounting information system for a small business
  • Identify, classify and journalize the transactions of small business start up.
  • Prepare adjusting entries, generate a trial balance and maintain the general ledger.
  • Prepare financial statements - Income Statement, of Owner's Equity, Balance Sheet & Statement of Cash Flows
  • Understand and apply the value of financial information in managing a business.
  • Discover career opportunities in accounting
  • Appreciate and apply the value of accounting in your career

Who is the target audience?

  • Intended for beginners audience
  • None or very little understanding of accounting
  • Excellent study guide for accounting and business students who are currently enrolled in their first college accounting courses.
  • Ideal for those who have procrastinated from taking required accounting courses for fear of its difficulty.
  • Bookkeepers, accounting clerks, managers and small business owners who are looking to understand the big picture
  • College students who are considering accounting as a career track

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.



Successful graduates. Experience with Dr. Majo Jacinto

Section 1: Understanding Business, Making Decisions and Accounting Basics

Purpose of business. Service, Merchandising & Manufacturing. Sole proprietorship, Partnership & Corporation.


Accounting information system for business management, borrowing, regulatory and compliance. Results communicated in financial statements. Internal and external users of financial statements. Managerial accounting & Financial accounting.

10 questions

A multiple choice quiz for the section we just covered.

Section 2: Discover how it's done in a real business setting.

Setting up a small business. Sample company transactions. .


Using the accounting equation to record business transactions. Assets = Liabilities + Owner's Equity. Capital + Revenue - Expenses. Starting a new business.


Income Statement, Statement of Owner's Equity, Balance Sheet, Statement of Cash Flows. Profit and Loss Statement. Operating, Investing and Financing activities. Sequence of financial statement preparation.

10 questions

Test your understanding of the recording process for a small business.

Section 3: Let's design the accounting system for your business.

List of accounts used to record business transactions. Assets, Liabilities, Capital, Revenues and Expenses. Account numbers.


The recording process. Journal entries. When to debit or credit?


Posting journal entries to the general ledger. Importance of the ending balances.


Unadjusted trial balance report

5 questions

Chart of accounts, journal entries, general ledger and trial balance

Section 4: Cash versus Accrual. Adjusting Entries & Financial Statements

Basis of recording transactions. Prepaid Expenses, Deferred Revenue, Accrued Revenues and Accrued Expenses.


Income Statement, Statement of Owner's Equity, Balance Sheet and Statement of Cash Flows. Sequence of preparing financial reports.

5 questions

Cash basis and accrual basis accounting. Adjusting entries.

Section 5: Career Opportunities in Accounting
Explore opportunities in the accounting field
3 pages

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Majo Jacinto, Certified Public Accountant & Accounting Professor

Dr. Majo Jacinto is an active professor in accounting, audit, information systems, taxation and nonprofit accounting for approximately 15 years in both the online and ground platforms serving college and graduate students in accounting and business.

Dr. Jacinto’s academic involvement include publishing textbooks, training manuals and sponsoring NYSED approved curriculum for Continuing Professional Education (CPE) credits. As a CPA, Dr. Jacinto is an actively engaged accounting practitioner serving for profit and non-profit organizations on Long Island, NY.

She earned her Doctor of Management degree at Colorado Technical University. She completed her MBA and undergraduate degree in Accounting at New York Institute of Technology. She also completed a baccalaureate degree in Economics and Psychology.


I am invested in your success. My passion lies in being your guide by the side and see you not only perform but transform into successful business professionals and be the best you can be through accounting education.

“Be a lifelong learner. Perform consistently well, communicate effectively, think analytically and speak fluently the language of business = accounting (Jacinto, 2013).”

Ready to start learning?
Take This Course