The Art of Learning Accounting and Achieving Greater Success

Name: The Art of Learning Accounting and Achieving Greater Success
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Learn the Basics of Financial Accounting From the Ground Up

Created byBrad Horton, CPA, CFE, MST, MBA

Last updated 7/2021

English

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What you'll learn

The building blocks of financial accounting:
Assets, liabilities, equity and the accounting equation
Debits and credits, double-entry accounting, the adjusting process, and preparing financial statements
Double-entry accounting and the accounting equation
Double-entry accounting and debits and credits
The adjusting process
Preparing financial statements

Course content

8 sections • 27 lectures • 4h 26m total length

Welcome to the Art of Accounting and Achieving Greater Success!4:14
Students will meet the instructor and discover why learning accounting and thus taking this course can benefit them.
Introduction to the Course, Instructor Bio, The Importance of Accounting9:37
In this lecture, students will be introduced to what they will learn in the course, and we will go over course objectives. Next, the instructor will give a brief synopsis of his biography and then will discuss why this course can benefit students. Finally, students will be introduced to the accounting equation and will take a quick quiz to gauge their initial understanding of the accounting equation.
Section 1 Summary1:17
In this lecture, students will have a recap of the introduction section, students will be reminded to download the available resources from this section, and students will be reminded to take the quiz at the end of this section.
The Accounting Equation

Introduction to the Basics3:19
In this lecture, students will get a preview of what they will learn in this section; the building blocks and basics of accounting, which are assets, liabilities, and equity.
The Basics: Assets13:31
In this lecture, students will learn the definition of assets, learn to identify assets, and learn some of the more common asset accounts. Students will also be given a few tips on how to identify assets.
Assets Quiz
The Basics: Liabilities13:42
In this lecture, students will learn the definition of liabilities, learn to identify liabilities, and learn some of the more common liability accounts. Students will also be given a few tips on how to identify liabilities.
Liabilities Quiz
The Basics: Equity11:25
In this lecture, students will learn the definition of equity, learn to identify equity accounts, and learn some fo the more common equity accounts. Students will also learn some of the more common revenue and expense accounts to better identify these types of accounts when analyzing transactions.
Equity Quiz
Assignment: Section 2_The Basics

Introduction to Debits and Credits1:51
Students will be introduced to the topic of this section; debits and credits. They will get a preview of what they will learn in this section as well as be encouraged to review any concepts they have learned to this point so they can be prepared to build on their previous knowledge.
Debits and Credits for Assets and Liabilities14:28
In this lecture, students will learn the definition of debits and credits as well as how debits and credits interact with and impact with asset and liability accounts. Students will also walk through example accounts and learn how to compute the balances in asset and liability accounts.
Debits and Credits
Debits and Credits for Equity Accounts11:43
In this lecture, students will learn how debits and credits interact with and impact equity accounts. Students will also walk through example accounts and learn how to compute the balances.
Debits and Credits_Equity
Discussion of Section 3 Project (The instructor will go over the answers)6:35
The instructor will go over the project for this section. Students are encouraged to attempt to complete the project before looking at the answer key and viewing this lecture which goes over the answers.
Debits and Credits Summary1:45
Students will get a summary of this section and will be reminded to take advantage of the resources, assignments, quizzes, and projects that are provided for them.

Introduction to Double-Entry Accounting and the Accounting Equation2:09
This lecture will introduce students to the upcoming section and introduce the topics of double-entry accounting and the accounting equation.
Double-Entry Accounting and the Accounting Equation23:12
In this lecture, students will learn double-entry accounting as it applies to the accounting equation. Students will learn the accounting equation and learn how to analyze the accounting equation. Furthermore, students will analyze transactions to learn and determine their overall impact on the accounting equation.
Accounting Equation Quiz
Discussion of Section 4 Project (We will go over the answers)20:02
In this lecture, we will go over the answers for Project 4. I will give a detailed analysis of the transactions and provide tips and ideas for how to analyze transactions and determine what needs to be done to ensure the accounting equation remains in balance.

Introduction to Double-Entry Accounting and Debits and Credits1:38
In this lecture, students will be introduced to the debits and credits component of double-entry accounting and will preview learning how to prepare journal entries, how to record those journal entries in T accounts, how to compute account balances, and how to prepare an unadjusted trial balance.
Debits and Credits, Journal Entries, Account Balances, and the Trial Balance30:46
In this lecture, students will be introduced to debits and credits in terms of the concept of double-entry accounting. Students will then learn to prepare journal entries, record those journal entries into the respective T accounts, compute the balances of the T accounts, and prepare the adjusted trial balance as we go through various examples.
Section 5 Quiz
Discussion of Section 5 Project (We will go over the answers to Project 5)31:13
In this lecture, we will go over the answers for Project 5. I will give a detailed analysis of the transactions and provide tips and ideas for how to analyze transactions, prepare journal entries, compute account balances, and prepare an unadjusted trial balance.
Section 5 Summary2:28
In this lecture, we summarize everything learned in Section 5 (debits and credits as they pertain to each transaction, preparing journal entries, recording journal entries into the respective accounts, computing account balances, and preparing an unadjusted trial balance).

Introduction to the Adjusting Process2:57
In this lecture, students will be introduced to the adjusting process and will preview what they will learn in this section.
The Adjusting Process22:09
In this lecture students will learn about the adjusting process and the four different types of adjusting entries. Students will also learn how to make adjusting entries and will walk through examples of the different types of adjusting entries.
Section 6 Quiz
Discussion of Section 6 Project (We will go over the answers for this project)8:44
In this lecture, we will go over the answers for the adjusting process project to include preparing the adjusting entries, recomputing the T account balances, and preparing the adjusted trial balance.

Introduction to the Financial Statements2:59
Students will be introduced to the financial statements preparation process.
The Financial Statements12:36
In this section, students will learn the different types of financial statements and their respective purposes. Students will also learn how to prepare the income statement, the statement of retained earnings, and the balance sheet.
Section 7 Quiz
Discussion of Section 7 Project (we will go over the answers).7:44
In this lecture, we will go over the answers for Project 7. We will go over the numbers for Builder Company's income statement, statement of retained earnings, and balance sheet.
Cumulative Practice Test
Section 7 Summary2:10
In this lecture, we will recap what we have learned in this section and in the class.

Requirements

None. This course can benefit the beginner and the expert alike.

Description

Learning accounting can be difficult. However, learning and knowing at least some basic accounting is crucial for success in not only the field of accounting, but also in the business world at large. Furthermore, having at least a basic understanding of accounting can increase your marketability and also make you more competitive for jobs in numerous fields. Unfortunately, the way that accounting is generally taught in college classes and seminars can make it even more difficult to learn. You start getting all of this confusing terminology thrown at you and then you’re expected to analyze transactions without knowing what the terminology means. As a college lecturer of accounting, I've witnessed firsthand that this approach is often a recipe for failure. I'm also a CPA and a CFE with over fifteen years of accounting industry experience where I have prepared some of the most complex financial statements in the world, structured some of the most complex accounting transactions, and performed some of the most complex accounting work that there is.

In this course, we will take a different approach as we start from the ground up and learn the basics before we dive into the more complex topics like analyzing transactions and preparing financial statements. Like I do in the collegiate accounting classes that I teach, I will explain the concepts in plain and easy to understand language and we'll approach learning accounting like putting together the pieces of a puzzle (while I give you important tips and clues that can help you identify what you need to know).

In this class, I have included numerous handouts, quizzes, projects and assignments to help you learn accounting so that at the completion of this class, you will be able to identify and examine assets, liabilities, and equities, and you will know what debits and credits are and how they impact the different types of accounts. You will also be able to prepare journal entries, record those entries into the various accounts, prepare a trial balance, prepare adjusting entries, prepare an adjusted trial balance, and then prepare and analyze financial statements. Over the past seven years, I have helped hundreds of students learn financial accounting and go on to achieve greater success, and I can help you do exactly that too.

Who this course is for:

Beginning accounting students
Individuals interested in learning accounting looking for a career in bookkeeping
Individuals wanting to learn accounting to boost their career
Anyone interested in learning the nuts and bolts of financial accounting
Advanced accounting students and accountants looking for fresh insight on financial accounting

The Art of Learning Accounting and Achieving Greater Success

What you'll learn

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Course content

Introduction3 lectures • 15min

The Basics: Assets, Liabilities, and Equity4 lectures • 42min

Debits and Credits5 lectures • 36min

Double-Entry Accounting and The Accounting Equation3 lectures • 45min

Double-entry accounting and Debits and Credits4 lectures • 1hr 6min

The Adjusting Process3 lectures • 34min

Financial Statements4 lectures • 25min

Bonus Section1 lecture • 2min

Requirements

Description

Who this course is for: