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* An Integrated Approach to the Fundamentals of Accounting
283 students
* An Integrated Approach to the Fundamentals of Accounting
A comprehensive course for those that want to learn Bookkeeping and Accounting
Created byPaula Guilfoyle & CO
Last updated 4/2016
English
What you'll 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
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Course content
9 sections • 123 lectures • 5h 41m total length
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.
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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.
Who this course is for:
- 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