Business Accounting Made Easy

You can deal with basic and complicated accounting issues after you have studied this course.
4.1 (4 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.
1,151 students enrolled
Instructed by Steve Chan Business / Finance
$19
$50
62% off
Take This Course
  • Lectures 26
  • Length 5.5 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

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

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

About This Course

Published 9/2015 English

Course Description

Welcome to "Accounting Level 1" Course.

This course is suitable to students who are studying their professional qualification exams such as ACCA, CIMA, AAT, ACA, CPA etc.

Also it's suitable to those who are new to accounting and junior accountants.

We have used the hands on approach to teach accounting step by step and we have trained more than 5000 students from all around the world to become a qualified accountant.

Hope you will enjoy the lectures!

What are the requirements?

  • Students should download and print our course note out before watching the lectures

What am I going to get from this course?

  • Basis of accounting (Debit&Credit)
  • How to prepare financial statements? (6 Steps Accounting Cycle)
  • Prepare financial statements with incomplete records
  • Bank Reconciliations
  • Correction of errors
  • Accounting for Shares
  • Accounting for loan notes
  • Accounting for sales tax and corporation income taxation
  • Accounting for Irrecoverable Debts
  • Accounting for Accruals and Prepayments

What is the target audience?

  • This course is suitable to junior accountants or any students who are new to accounting.

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.

Curriculum

Section 1: Introduction to Accounting
03:18

You will need to download the study note below and also have 30 blank pages in order to copy the handout together with tutor and also do exercises together with tutor.

Study Note Download(Printable)
59 pages
08:03

In this session, we will be discussing management accounting as well as financial accounting.

15:23

In this session, we will be looking at basic accounting equation with practical examples to record business transactions.

18:38

In this session, we will continue with the previous session to finish off the rest of the business transactions.

06:08

In this session, we will continue with the previous session to finish off the rest of the business transactions.

Section 2: Double Bookkeeping (Accounting Cycle)
15:29

In this session, we will be introducing how we do double entry in the real life by applying the SIX steps approach.

06:52
In this session, we will continue with the previous session.
Double bookkeeping self reading note
10 pages
Section 3: Analysis of Financial Statements
12:01

After we have looked at how to do the double bookkeeping, we will now learn how to analyse the full sets of financial statements. To start with, Statement of profit or loss and other comprehensive income (We are following the IFRS(International financial reporting standards) Format and surely this would be also similar to the US GAAP as well).

17:05

After we have looked at how to analyse the statement of profit or loss and other comprehensive income above, we will now learn how to analyse the statement of financial position (We are following the IFRS(International financial reporting standards) Format and surely this would be also similar to the US GAAP as well).

04:44

After we have looked at how to analyse the statement of financial position above, we will now learn how to analyse the statement of changes in equity (We are following the IFRS(International financial reporting standards) Format and surely this would be also similar to the US GAAP as well).

Section 4: Incomplete Records
11:23

In the real life, there might be missing records such as the invoice may be missing etc. So how to prepare the financial statements correctly if the accounting records are incomplete? Let's start with this session together.

Section 5: Bank Reconciliation
08:40

In this session, we will be looking at the Bank Reconciliation Statement. This is very important particularly for those junior accountants. Surely if you are senior accountant, why not recap this topic before you progress to higher level of accounting study? Let's rock and roll now.

13:11

Continuing with the previous session, we will be looking at the practical example of how to do the bank reconciliation statement. This is interesting and just follow our pace with step by step iollustration.

Section 6: Accounting Errors
12:18

Everyone makes mistakes. So if there are some accounting errors exist, how to deal with them? In this session, we will start by focusing on the situation where DR=CR in the trial balance and how the accounting errors would take place and how we can deal with them correctly.

16:06

Continuing with the previous session and in this session, we will be focusing on the situation where DR does not equal to CR side in the trial balance and how the accounting errors would take place and how we can deal with them correctly.

Accounting errors correction extra exercises
6 pages
Section 7: Capital Structure
18:35

We know that from the right hand side of the accounting equation, this is the financial decision made by the company, ie, raising finance either by debt or equity. We will be focusing on Equity finance in this session by focusing on the accounting journals relating to share issue, ie, issue shares at the market value, above market value, bonus issue and right issue of shares, Also we will be looking at the accounting journals relating to preference shares as well.

03:06

This is the second part of the capital structure of the organization. If company decides to issue traded loan note in the open market, then the company should be a public listed company onto the recognised stock exchange. So we will be focusing on how to do the double entry relating to the issue of loan note in this session.

Extra exercises for Share issue
6 pages
Section 8: Tax
16:47

In this session, we will be focusing on how to deal with sales tax in the real life. We will be starting to focus on the theory relating to value added tax, then we will work through a practical example relating to this as well. Hope you enjoy this lecture.

09:38

In this session, we will be focusing on corporation income tax and how we can deal with it correctly.


Section 9: Irrecoverable Debt
16:03

In the real life, it's not always that the customers would pay for you money. In some situations, customers would refuse to pay for you money. If this is the case, then to the business, this is the bad debt(irrecoverable debt). So in this session,we will be focusing on the accounting treatment relating to irrecoverable debt; allowance for doubtful debt; recovery of irrecoverable debt or doubtful debt as well.

Irrecoverable debt exercises
3 pages
Section 10: Accruals and Prepayments
11:07

When we are preparing for the financial statements,we are following the ACCRUALS basis rather than cash basis. Also when we are using some services such as mobile phone service, gas bills etc, we need to do the accounting adustment such as accrual liability as at the year end. Also when we use the insurance service as well, as at the year end, we need to do the adjustment relating to prepayment. So in this sesion, we will be focusing on those concepts with practical examples and hope you will enjoy it.

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Steve Chan, ACCA, CIMA Qualified Accountant

This is Steve and I began my career as an auditor and now I work as a finance director in a HK company, and also dedicates myself to education.

I am a member of ACCA(Association of Chartered Certified Accountant) and CIMA(Chartered Institute of Management Accountant), I bring my specialized knowledge in accounting, auditing and financial management.

I have trained more than 5000 students from all around the world to pass their qualification exam. I also train real life accountants as well as auditors.

I have a comprehensive understanding of how the business world works, and in my classes I use lots of real life examples to help students prepare to work in similar situations.

Ready to start learning?
Take This Course