Introduction to Accounting: Double Entries
- 2.5 hours on-demand video
- 2 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- For students already enrolled in accounting course, for those who have not yet started and for working accountants there are always questions on the background of their mind as to how double entries work, what and why to debit or credit and generally how to enter world of accounting. This course will shed light on all of the questions of beginners and help to formulate good level of confidence.
- There are no course prerequisites. All you need to have is your time, your focused attention and your laptop.
The course on Introduction to Accounting is designed in a non-traditional format to help you grasp the accounting essentials in a fun, animated and user-friendly way. Our primary objective was not to allow you feel bored at any stage throughout the lectures and yet walk out of the course with decent level of confidence, therefore did our best to elaborate a truly interesting and compelling video content to make sure to convey you otherwise tiresome topics in the most exciting and connecting way.
Whether you are a beginner to the world of accounting and don't know anything about it, or you have gone half way through, or an accountant working in your specific area and always have some questions in the background of your mind about accounting entries and impact of your work on overall financial picture of your company, this course is just for you. The course will shed light to many aspects of your accounting experience and help you get a profound understanding of accounting concept. The design of this course is fun and extremely user-friendly. With this course, you do not need any books, notepads, pens or pencils. All you need is just to set aside some time and listen with focused attention. The illustrative, interactive and animated format of the lecture will ensure that you don't get bored and visualize actual processes which will help to comprehend concepts discussed easily and deeply. This inexpensive budget course will definitively strengthen your confidence in your accounting experience and will equip you with necessary underpinning knowledge to progress further with your accounting journey confidently.
- Beginners in accounting, accounting students, accountants, all those interested in accounting concept
After completing this course, students will be able to understand the purpose of accounting, learn about company types and its significance for accounting, learn about business entity concept, learn about main accounting equation,understand how assets, liabilities and equity are formed and reflect on their definitions, understand what elements assets, liabilities and equity they are comprised of and go through the quiz at the end of the each lecture.
After the Lecture 2 is over you will be able to:
1) Get introduced to Debit and Credit Concept
2) Learn about three main rules of assessing an accounting transaction
3) Learn how to apply the technique of recording an accounting transaction on the basis of an actual example
4) Elaborate your own approach towards evaluating and recording an accounting transaction
After the Lecture 3 is over:
- You will be able to understand how small and routine accounting transactions that are recorded on a daily basis through double entries ultimately form a balance sheet, the document officially represent a company’s financial stance;
- Organize the first double entries of HSC Ko into the set of accounts that eventually makes up a balance sheet.
After the Lecture 4 is over, you will be able to:
1) Get a profound understanding of the purpose of income statement;
2) Go through real income statements of different companies and get acquainted with a general format income statement;
3) Understand how debit and credit entries increase or decrease an income statement element;
4) Get a hands-on experience on how income statement entries are recorded based on HSC Ko example and how income statement report is formed;
5) Understand how the final result of income statement is fit within the balance sheet;
6) Be able to elaborate your own approach towards recording an accounting entry based on the explanation offered throughout the HSC Ko example.
After the Lecture 5 is over, you will be able to:
1) Understand what accounting standards are, why we need them
2) Get acquainted with International Financial Reporting Standards IFRSs
3) Get an insight into what Conceptual Framework is and what objectives it purports to serve
4) Get insight into going concern assumption – an underlying assumption of Conceptual Framework
5) Learn about accrual principle
6) Learn about matching concept
7) Learn about prudence concept
8) Learn about Substance over Form
9) Learn about business entity concept
10) Learn about fundamental qualitative characteristics of financial information
11) Learn about enhancing qualitative characteristics of financial information
After the lecture 7 is over, you will be able to:
- Understand how ledgers are created and used;
- Understand how trial balance is formed and used;
- Observe the entire accounting chain from recording a double entry until elaboration of a final set accounts