* An Integrated Approach to the Fundamentals of Accounting
3.5 (13 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.
133 students enrolled
Wishlisted Wishlist

Please confirm that you want to add * An Integrated Approach to the Fundamentals of Accounting to your Wishlist.

Add to Wishlist

* An Integrated Approach to the Fundamentals of Accounting

A comprehensive course for those that want to learn Bookkeeping and Accounting
3.5 (13 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.
133 students enrolled
Last updated 3/2016
English
Learn Fest Sale
Current price: $10 Original price: $200 Discount: 95% off
3 days left at this price!
30-Day Money-Back Guarantee
Includes:
  • 5.5 hours on-demand video
  • 36 Articles
  • 14 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Identify and prepare financial documents
  • Enter transactions using single entry accounting to the Prime Books of Entry (Sales and sales returns, purchase and purchase returns, petty cash and bank)
  • Close the day books and calculate a balance to be carried forward
  • Reconcile Bank and Control Accounts
  • Transfer day books totals to the General Ledger
  • Prepare Journals to account for adjustments and payroll
  • Prepare an Initial Trail Balance and know what steps to take if it does not balance the first time
View Curriculum
Requirements
  • This is a 5 Hour MOOC that has been enhanced with activities, a case study, quizzes and a narrated story board to help you put your learning into a work based context
  • You must have a desire to learn bookkeeping or accounting
  • All workbooks will be provided
Description

Course Description

An Integrated Approach to the Fundamentals of Accounting - a comprehensive MOOC for those that want to learn how to take accounts from source documents to Trial Balance

Learn how to bring accounts from raw documents to the Trial balance

Do you need to understand the fundamentals of Accounting and Bookkeeping? Are you considering a career in Bookkeeping or Accounting? THEN REGISTER NOW

Course Overview

Section 1 of this course is an introduction section.

In section 2 we will introduce you to the role of a bookkeeper and accountant, key terms and key documents that you will come across through out this course.

In section 3 we will move into Sales. We will look at preparing invoices and credits, with and without trade and settlement discounts. We will look at a statements and we will discuss the role of the AR department. After this we will look at the prime books of entry, cross totting and transferring information from invoices and credits to the sales and sales returns day books. Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Prepare sales invoices and credits with and without discounts and sales tax
  • Prepare customer statement
  • Enter sales transaction to the day books and then close the day books

Section 4 of this course is about Purchases. We will look at the purchasing process and the documents involved and we will also look at checking purchase invoices for approval. After we have checked the invoices and credits we will also spend some time coding invoices for different analysis. We will then transfer the data from the purchase transactions into the purchase and purchase returns day books. Finally we will do some creditor reconciliations. Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Check and approve purchase invoices
  • Code purchase invoices and credits
  • Enter purchase transaction to the day books and then close the day books
  • Reconcile creditors statements

In section 5 we will move into Petty Cash. We will walk through each step of the petty cash process from raising petty cash vouchers, entering data to the daybook and reconciling and replenishing the petty cash. Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Raise petty cash vouchers
  • Enter petty cash transactions to the petty cash daybook
  • Close the daybook and calculate the balance carried down
  • Reconcile the petty cash
  • Replenish the petty cash

Section 6 of this course is about Banking Transactions. Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Check remittance advice
  • Enter payments and receipts to the 3 column and analysis cash book
  • Close the cash book and calculate the balance carried down
  • Reconcile the bank

In section 7 we will learn about the accounting equation and double entry. We will also prepare T-accounts. we will record transactions from the sales day book and the sales returns day book to the Receivables control account, the general ledger and the memorandum ledgers. we will record transactions from the sales day book and the sales returns day book to the Receivables control account, the general ledger and the memorandum ledgers. We will record transactions from the purchase and purchase returns prime books to the Payable's control accounts, the general ledger and the memorandum accounts. We will then record transactions from the bank and cash. This will complete the receivables and payable's control account. After this we will look at closing the controls accounts.

Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Prepare double entry transactions
  • Prepare and record transactions in T-accounts
  • Transfer sales and sales returns transactions from the day books to the general ledger, memorandum accounts and receivables control account.
  • Transfer purchase and purchase returns transactions from the day books to the general ledger, memorandum accounts and payable's control account
  • Transfer the left and the right side of the cash books to the general ledgers
  • Close the control accounts

In section 8 we will move into Journals. We will look at the need for journals and we will also produce and prepare the journals day books. We will then look at Payroll. We will look at calculating gross pay and net pay and we will also look at the need for employers to deduct payroll journals. After this we will then prepare the payroll journals and enter the transactions to the general ledger. Followed bu this will be a high level overview of control accounts finishing with the preparation of Initial Trial balance and we will look at the steps you can take it if does not balance.

Through out this section you will have a number of activities using the case study presented and these activities will give you the opportunity to:

  • Prepare Journals for adjustment and payroll and record them in the General Ledger
  • Close the general ledger accounts
  • Calculate gross and net pay
  • Prepare an initial trial balance

This course contains:

Narrated story boards to help you put this learning into a work based context created by a team of instructional designers

A case study that we will use through out this course

Workbooks to download

Activities to complete

Quiz

Certificate of Completion

******BONUS****** FREE Join a community of other learners where you can interact with each other and with the instructor.

********************************************************************************************

REGISTER NOW and get started with An Integrated Approach to the Fundamentals of Accounting !

*******************************************************************************************

By the end of this course, you'll have the knowledge and confidence to carry out the responsibilities of a bookkeeper or assistant accountant

********************************************************************************************

Your purchase is 100% RISK FREE with a 30 day money-back guarantee. If you don't learn anything new from this course, simply request a refund within your 30 day period for your money back, no questions asked.

Who is the target audience?
  • You should NOT take this course if you are not interested in learning bookkeeping and accounting
  • You should take this course if you are running your own business and need to know how to keep your own books
  • You should take this course if you are interested in a career in Bookkeeping or Accounting
  • You should take this course if you need a refresher
Students Who Viewed This Course Also Viewed
Curriculum For This Course
Expand All 123 Lectures Collapse All 123 Lectures 05:41:33
+
Course Introduction
3 Lectures 04:13

A quick introduction and overview of this course

Preview 02:38

Contact details

How to contact me
00:09

How to take this course - Lesson, activities, case study activites and workbooks
01:25
+
Introduction to Bookkeeping and Accounting
13 Lectures 28:42

By the end of this lesson you will be able to explain the role of a bookkeeper

Introduction to bookkeeping and the role of a bookkeeper
04:56

There are a number of parties interested in business financials, by the end of this lesson you will be able to list the users and their reasons

Who is interested in business financials?
01:32

By the end of this lesson you will be able to distinguish between cash and credit transactions

Understanding cash and credit transitions
01:29

by the end of this lesson you will be able to identify many financial documents used to record transactions

Preview 04:18

It is important that documetns are filed and kept for a period of time, by the end of this lesson you will be able to discuss filing and document retention

Document filing and retention
02:14

By the end of this lesson you will be able to idenftiy assets, both current and non current

Assets
02:43

By the end of this lesson you will be able to identify current and non current liabilties

Liabilities
01:18

Activity
00:05

Income and expenses make up the profit and loss account, by the end of this lesson you will be able to identify income and expenses

Income and Expenditure
01:43

The accounting equation is the basis for double entry, this introductory lesson will introduce you to the accounting equation

Capital and the Accounting Equation
03:36

Single entry accounting and double entry accounting are not the same, in this lesson you will be introduced to the difference between the two

Double Entry V's Single Entry
01:35

+
Sales Transactions and the Sales Day Books
19 Lectures 54:33

Please download this workbook. You will get further instruction through out this section

Workbook for Sales transactions and the sales day book
00:04

Thought out this course you will work on a case study, in this lesson we will introduce you to the case study

Case Study - Intro
00:36

By the end of this lesson you will be able to explain the concept of sales tax

What is Sales tax?
01:01

by the end of this lesson will will be able to describe the principles of sales tax

Preview 04:18

By the end of this lesson you will be able to calculate sales tax from both the Gross value and the net value

Calculate sales tax
07:50

Storyboard - What are the concepts behind sales tax?
02:11

A quick activity on sales tax

Activity - Sales tax
01:01

By the end of this lesson you will be able to explain the importance of a sales invoice and what details you will find on a sales invoice

All about sales invoices
02:05

by the end of this lesson you will be able to Prepare sales invoices with no discounts and with trade discount

Prepare sales invoices
08:14

by the end of this lesson you will be able to prepare sales invoices with settlement discounts

Settlement discount
07:45

by the end of this lesson you will be able to prepare sales credits with no discounts, with trade and with settlement discount

Prepare sales credit notes
02:59

Activity - Case Study - Sales invoice and credits
01:27

By the end of this lesson you will be able to describe the main details of a statement and it purpose and describe the role of the accounts receivable (AR) department

All about statements and the AR department
05:51

Your turn to prepare a statement

Activity - Case Study - Prepare a statement
00:12

by the end of this lesson you will be able to describe the use of the prime books and carry out cross totting exercises.


Prime Books overview
00:58

by the end of this lesson you will be able to record sales invoice and credit notes to the sales day book or sales prime book of entry

Record sales transactions to the sales day books
06:58

activity - practice recording transactions into the daybooks

Activity - Case Study - Record sales transactions to the day books
00:11

This workbook contains the solutions for the activities in this section

Completed workbook for sales transactions and the sales daybook
00:02

Key Words for Section 3: Sales Transactions and the Sales Day Books
00:48
+
Purchase Transactions and the Purchase Day Books
13 Lectures 31:16

Workbook for purchase transactions

Workbook for Purchase transactions and Purchase Day book
00:07

By the end of this lesson you will be able to explain the use of codes and identify different types of coding

Preview 02:57

By the end of this lesson you will be able to identify different types of coding used by accountants and bookkeepers

Coding Samples
01:31

By the end of this lesson you will be able to describe the purchasing process and documents involved and you will be able to check an invoice against a PO or GRN for approval

The Purchase process and approving invoices
07:40

It is your turn now to check and approve the purchase invoices that you will find in the excel file for this section

Activity - Case study - Approve Purchase invoices
00:31

By the end of this lesson you will be able to code purchase invoices for analysis

Code a purchase invoices
03:58

You must now code some purchase invoices for Jake

Activity - Case Study - Coding Purchase invoices
00:17

By the end of this lesson you will be able to carry out creditors reconciliations

Reconcile creditors statements
07:16

It is your turn now to reconcile a creditors statement

Activity - Case study - Reconcile creditors statement
00:08

Transfer purchases and returns to the day books and Cross tot and close the purchase day books

Purchase day book
06:17

It is your turn now to transfer transactions tot he purchase day book

Activity - Case study - Transfer purchase details to the daybook
00:16

Completed workbook for Purchase transactions
00:02

Key Words for Section 4: Purchase Transactions and the Purchase day books
00:13
+
Petty Cash
18 Lectures 52:31

This lesson is a brief overview of this section

Petty Cash Introduction
01:31

Workbook- Please ensure you download this workbook

Workbook for Petty Cash
00:06

By the end of this lesson you will be able to explain the use of petty cash and give examples of petty cash expenses

Preview 02:30

Additional information to build on the case study - Jakes Palace

Case Study - Additional information
00:40

By the end of this lesson you will be able to describe the difference between and IOU and and petty cash voucher, including when to use both

IOU's and Petty Cash vouchers
02:58

In this lesson we will quickly refresh sales tax

Sales Tax
03:28

by the end of this lesson you will be confident in preparing petty cash vouchers

Preparing Petty Cash vouchers
11:29

 prepare petty cash dockets for the receipts provided in the workbook.

Activity - Case Study - Prepare petty Cash dockets
00:06

In this lesson you will learn how to enter petty cash transactions into the petty cash day book

Recording transactions to the petty cash book
05:55

Now its your turn to enter transactions to the petty cash day book

Activity - Case Study - Enter transactions to petty cash day book
00:17

Now that we have entered transactions to the petty cash day book the next step is to close off the day book and calculate the balance carried forward

Closing the petty cash book
04:45

It is your turn now to try and close the day book

Activity - Case Study - Close the petty cash book
00:24

Petty cash needs to be reconciled on a regular basis. In this lesson you will learn how to reconcile the petty cash to source documents

Reconciling petty cash
07:56

Now you can try and reconcile the petty cash

Activity - Case Study - Reconcile petty cash
00:18

Petty cash must be topped up and a common method for this is the use of the imprest system. In this lesson we will look at replenishing the petty cash

Replenish Petty cash
04:04

It is importation that the person looking after petty cash understands the roles and responsibilities involved. In this lesson we will look at the role of the petty cashier and some sample petty cash policies

Roles and responsibilities of the pettycashieer
03:03

Storyboard - What is the role of a pettycashier?
02:11

Key Words for Section 5: Petty Cash
00:48
+
Bank
14 Lectures 44:21
Workbook for Bank transactions
00:04

By the end of this lesson you will be able to Explain the types of banks and the services the offer

Preview 03:00

by the end of this lesson you will be able to describe different types of payments

Bank payments
04:41

by the end of this lesson you will understand the use of a remittance advice and receiving payments from customers

Receiving payments from customers
02:13

By the end of this lesson you will be able to record transactions to the 3 column cash book

Cash Book
07:16

By the end of this lesson you will be able to record transactions into the analysed Cash book

Analysis cash book
04:41

Activity - Case study - Entry transactions to the cash book
00:19

By the end of this lesson you will be able to close the cash book

Closing the cash book
06:06

Activity - Case Study - Close the cash book
00:11

By the end of this lesson you will be able to discuss reasons for a bank reconciliation

Preview 01:37

By the end of this lesson you will be able to carry out a bank reconciliation

Lets do a bank reconciliation
13:33

Activity - Case study - Carry out a bank reconciliation
00:08

Completed workbook for Bank transactions
00:02

Key Words for Section 6: Bank
00:29
+
Double Entry
22 Lectures 01:06:46
Workbook for Double Entry
00:04

by the end of this lesson you will be able to Recall the accounting equation and apply it to double entry

The Accounting Equation
03:08

Activity - the accounting equation
00:24

Storyboard - What is double entry?
01:34

by the end of this lesson you will be able to Explain double entry and the dual effect

What is Double Entry
04:33

Activity - Double entry
00:22

By the end of this lesson you will be able to Identify debit and credit transactions and prepare T accounts

T-Accounts
05:12


By the end of this lesson you will be able to explain the general ledger and coding

Preview 03:44

More information on the receivables control account

The Receivables Control Account
02:09

In this lesson we will introduce you to posting sales invoices from the day books to the general ledger

Recordings Sales invoices
02:20

By the end of this lesson you will be able to record sales invoices and credit from the day books to the general ledger

Recording Sales invoices and credits
04:42

In this lesson you will be introduced to posting payment and discount to the receivables memoarandum ledger and the general ledger

Payments from Customers
03:49

By the end of this lesson you will understand the double entry required to post irrecoverable debts

Bad Debts
02:05

More information on the payables control account

The Payables ledger
01:56

Record transactions to the payables control account and memoarandum ledger including invoices, discount, and credits

Recording Payables
06:44

Introducing the bank and double entry

Bank
01:06

By the end of this lesson you will be able to post the left side of the bank day book to the general ledger and control accounts

Posting the Left Side of the Bank
12:52

By the end of this lesson you will be able to record the right side of the bank daybook to the general ledger

Posting the right side of the bank
02:56

Now that you know how to record transactions to the control accounts, the next step is to close the accounts. By the end of this lesson you will be able to close the control accounts

Close the Control Accounts
05:59

Completed workbook for Double Entry
00:01

Key Words for Section 7: Double Entry
00:47
+
Journals Payroll and the Trial Balance
19 Lectures 57:30
Workbook for Journals Payroll and the Trial Balance
00:02

describe the content and format of a journal & Prepare journal entries directly from transactions, books of prime entry as applicable or to correct errors

Preview 01:33

By the end of this lesson you will be able to prepare journal entries

Journal Examples
06:57

By the end of this lesson you will be able to Record journals in the general ledger

Recording Journals in the GL
01:34

By the end of this lesson you will Explain why authorisation of payroll transactions and security of payroll information is important in an organisation, Identify the different payment methods in a payroll system, for example, cash, cheque and automated payment & Explain the difference between wages and salaries and gross and net pay

All about Payroll
04:14

By the end of this lesson you will be able to Calculation of gross wages for employees paid by the hour, paid by output and salaried workers

Gross Pay
07:41

by the end of this lesson you will be able to Explain the deductions that are made to an employee’s gross pay, Explain the employer’s responsibilities for taxes, state benefit contributions and other deductions.

Net Pay and Deductions
02:27

By the end of this lesson you will be able to prepare payroll journals

Payroll Journals
06:00

By the end of this lesson you will be able to Record the payroll transactions into the general ledger

Record Payroll in the GL
04:50

Activity - Case Study - Calculate and Prepare payroll journals
00:39

Describe the purpose of control accounts as a checking device to aid management and help identify bookkeeping errors: Explain why it is important to reconcile control accounts regularly and deal with discrepancies quickly and professionally

Preview 03:29

Prepare the receivables control account or receivables ledger by accounting for: i) Sales ii) Sales returns iii) Payments from customers including checking the accuracy and validity of receipts against relevant supporting information iv) Settlement discounts v) Irrecoverable debts

Receivables Control Account
04:15

Prepare the payables control account or payables by accounting for: i) Purchases ii) Purchase returns iii) Payments to suppliers including checking the accuracy and validity of the payment against relevant supporting information iv) Settlement discounts

Payables Control Account
02:24

By the end of this lesson you will be able to explain and identify an Trial Balance

What is the Trial Balance
01:30

By the end of this lesson you will be able to close the sales day books and calculate the carry forward balance

How to prepare a Trial Balance
06:36

Activity - Case study - Prepare an initial Trial Balance
00:11

By the end of this lesson you will be able to check an invoice against a PO or GRN for approval

What to do when the trial balance does not balance
02:33

Completed workbook for journals, payroll and the Trial balance
00:02

Key Words for Section 8: Journal Payroll and the Trial Balance
00:33
+
Course wrap up
2 Lectures 01:54

A quick wrap up on this course

Preview 01:04

How to add this course to your Linkedin Profile
00:50
About the Instructor
Paula Guilfoyle & CO
3.5 Average rating
13 Reviews
133 Students
1 Course

Paula is a Qualified CPA with over 15 years' experience in the fields of Accountancy, Business Management,Process improvement, Internal Audit, Group accountant, Operations management and Training. All across a broad range of industries and sectors. Paula has been Key Speaker at many Accounting Events where her talks on Excel are received very positively. Taken from her experiences in Accounting and business fields, Paula also has Udemy courses for those wishing to up skill, especially in the area of Spreadsheets, Bookkeeping and Accounting.

Dioworks Group
4.1 Average rating
49 Reviews
357 Students
9 Courses
We make learning easy

Dioworks is an e-learning design company focused on using technology as enablers to make learning easy, engaging and effective. Premised on innovative designs, pedagogy and solid research, we provide quality learning experiences for learners globally. Dioworks offers bespoke solutions for organisations to integrate learning, training and assessment of work-based competencies via blended learning strategies. Specifically, we combine the strengths of Classroom-Facilitated Learning, Massive Open Online Courses (MOOCs) in partnership with UDEMY Inc, and our "Kinetic Coach" automated response training solution to achieve learning outcomes.