* An Integrated Approach to the Fundamentals of Accounting

A comprehensive course for those that want to learn Bookkeeping and Accounting
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  • Lectures 123
  • Length 5.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 3/2016 English

Course 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.

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

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

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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.

What are the 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

What am I going to get from this course?

  • 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

What 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

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: Course Introduction
02:38

A quick introduction and overview of this course

Article

Contact details

How to take this course - Lesson, activities, case study activites and workbooks
Article
Section 2: Introduction to Bookkeeping and Accounting
Storyboard - What is the role of a bookkeeper?
Preview
02:47
04:56

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

01:32

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

01:29

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

04:18

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

02:14

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

02:43

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

01:18

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

Activity
Article
01:43

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

03:36

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

01:35

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

Key Words for Section 2: Introduction to Bookkeeping and Accounting
Preview
00:26
Section 3: Sales Transactions and the Sales Day Books
Article

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

Article

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

01:01

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

04:18

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

07:50

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

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

A quick activity on sales tax

02:05

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

08:14

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

07:45

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

02:59

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

Activity - Case Study - Sales invoice and credits
Article
05:51

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

Article

Your turn to prepare a statement

00:58

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


06:58

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

Article

activity - practice recording transactions into the daybooks

Article

This workbook contains the solutions for the activities in this section

Key Words for Section 3: Sales Transactions and the Sales Day Books
00:48
Section 4: Purchase Transactions and the Purchase Day Books
Article

Workbook for purchase transactions

02:57

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

01:31

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

07:40

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

Article

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

03:58

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

Article

You must now code some purchase invoices for Jake

07:16

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

Article

It is your turn now to reconcile a creditors statement

06:17

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

Article

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

Completed workbook for Purchase transactions
Article
Key Words for Section 4: Purchase Transactions and the Purchase day books
00:13
Section 5: Petty Cash
01:31

This lesson is a brief overview of this section

Article

Workbook- Please ensure you download this workbook

02:30

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

Article

Additional information to build on the case study - Jakes Palace

02:58

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

03:28

In this lesson we will quickly refresh sales tax

11:29

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

Article

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

05:55

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

Article

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

04:45

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

Article

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

07:56

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

Article

Now you can try and reconcile the petty cash

04:04

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

03:03

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

Storyboard - What is the role of a pettycashier?
02:11
Key Words for Section 5: Petty Cash
00:48
Section 6: Bank
Workbook for Bank transactions
Article
03:00

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

04:41

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

02:13

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

07:16

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

04:41

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

Activity - Case study - Entry transactions to the cash book
Article
06:06

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

Activity - Case Study - Close the cash book
Article
01:37

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

13:33

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

Activity - Case study - Carry out a bank reconciliation
Article
Completed workbook for Bank transactions
Article
Key Words for Section 6: Bank
00:29
Section 7: Double Entry
Workbook for Double Entry
Article
03:08

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

Activity - the accounting equation
Article
Storyboard - What is double entry?
01:34
04:33

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

Activity - Double entry
Article
05:12

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

Activity - T accounts
Preview
Article
03:44

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

02:09

More information on the receivables control account

02:20

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

04:42

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

03:49

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

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Instructor Biography

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.

Instructor Biography

Dioworks Learning, 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.

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