Basic Accounting and Bookkeeping for Beginners and Startups

Name: Basic Accounting and Bookkeeping for Beginners and Startups
Rating: 4.2 (159 reviews)

Simple Accounting for Better life

Created byNiran Marshall Perera

Last updated 8/2017

English

What you'll learn

Define accounting simply and understand the elements of accounting with certainty.
Record transactions in Accounting Equation and ledger accounts and to Balance ledger accounts.
Prepare Trail balance and develop an income statement and statement of financial position.
Develop alternative and simple formats of an income statement and statement of financial positions to analyze periodical income and financial position based on customized needs.
To make better financial decisions to improve income and financial position.

Course content

1 section • 24 lectures • 1h 38m total length

Introduction1:39
What i is Accounting1:51
Process of Accounting2:17
Understand the accounting process, from inputs like transactions and daily activities to outputs that inform owners and others. Learn the steps—identifying, recording, classifying, summarizing, analyzing, interpreting, and communicating.
Elements of Accounting8:01
Learn the five elements of accounting—assets, expenditure, capital, liabilities, and revenues—and how they appear in financial statements with definitions and practical examples.
Accounting Equation1:33
Accounting Equation exercise11:08
Accounting equation simple interpretation2:17
Ledger Accounts2:28
Double entry theory5:01
Ledger Accounts exercise8:52
How to balance Ledger Accounts7:04
Trial Balance3:19
Statement of comprehensive income4:44
Income Statement5:04
Income Statement exercise3:10
Alternative simple income statement3:17
Statement of Financial Position3:13
Understand the statement of financial position, or balance sheet, showing assets, liabilities, and capital. Learn how to present by date and apply the assets-liabilities-capital equation.
Classification of Assets and Liabilities2:29
Statement of Financial Position exercise5:23
Simple interpretation of Statement of Financial Position3:29
Income Scenarios3:19
Profit Maximization and Loss Minimization4:58
Learn how to maximize profit and minimize losses by increasing income, reducing expenses, or both, across growing, surviving, and struggling scenarios.
Impact and Importance of Profit and Loss2:36
Self Assessment1:38

Requirements

Ability to understand simple English language.
Desire to learn basics of Accounting (No prior knowledge on accounting required).
Need to make better and informed financial decision in life and/or Business.

Description

This course is designed to give an insight in to Basic Accounting Concepts from scratch so by the end of it user will be able make his/her own set of accounts to determine his/her periodical income and financial position and to make better financial decisions in life and /or Business.

Course will start with the development of simple definition of Accounting followed by the simple explanation of process of Accounting. Most valuable feature of this course is that it will help user to understand elements of accounting through simple explanations and examples which will help user to identify elements of accounting with utmost certainty.

Course is centered around ten simple financial transactions and instructor will teach how to record them in Accounting Equation and Ledger accounts step by step using double entry book keeping method and developed accounting basic magic table then based on those balances instructor will guide to prepare Trial balance and Income statement and Statement of financial position.

After preparing accounting statements instructor will guide user on how to improve financial position based on profit maximization and loss minimization process which make the course a real-life experience and a practical course.

So if you are an individual seeking to improve you financial position or if you are in the process of starting a business or if you already have a small business seeking to grow your business to new levels instructor invite you to enroll and learn how to make better financial in life and business through basic accounting statements.

Who this course is for:

No specific target student anyone can enroll and learn how to make better financial decisions in life or business using basics of accounting.