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Understanding Accounting is Understanding Business.
Take a minute and think about the world we live in today. Whether it is social media, sport teams, non-profits, or local mom and pop shops- all of these are individuals, like me and you, creating a business and delivering it to the masses. Regardless of your background, you are immersed in a world of business. A foundation in accounting can help you navigate the complexities and develop a new perspective on the world we live in. Accounting is the language of business and in its simplest form, accounting is a platform that allows businesses to record transactions.
Business and accounting come hand in hand. You cannot have one without the other. This course seeks to teach you basic accounting principles through a business lense. By the end of this course, you will understand key accounting concepts that are universally applicable to all businesses. In turn, you will be able to apply these concepts to:
About the Course
This beginner course is a 15 chapter series of video lectures and textbook with an emphasis on financial accounting. It is imperative that you utilize both to get the most of the course.
It is designed to make accounting as simple and relevant as possible. Many other courses will have lessons on regulatory agencies or governmental accounting, however, this course purposely leaves those out. Frankly, unless you want to become a CPA, that information is too specialized and you simply will never use it. This course focuses only on concepts that can be applicable to your every day life.
The course starts with an overview of accounting and business concepts and then dives into technical theory. After going over technical concepts, it then takes a step back and shows how the technical theory relates to business operations. Lastly, it concludes with a chapter on utilizing technical theory to analyze companies.
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|Section 1: Introduction to Accounting|
Introduction to the CoursePreview
Introduction to the Course Text
Basics of AccountingPreview
Basics of Accounting Text
|Section 2: Business Essentials- The Early Stages|
Cash Vs Accrual Basis
Cash Vs Accrual Basis Text
Accounting Cycle Text
|Section 3: Technical Theory|
Managing Inventory Text
Accounting for Sales
Accounting for Sales Text
Reconciling Cash Text
Accounting for Payroll
Accounting for Payroll Text
Breaking Down the Balance Sheet
Breaking Down the Balance Sheet Text
|Section 4: Business Essentials: The Latter Stages|
Trial Balance Text
Adjusting Entries Text
Preparing Financial Statements
Preparing Financial Statements Text
Wrapping up the Accounting Cycle
Wrapping up the Accounting Cycle Text
|Section 5: Analyzing Businesses|
Ratio Analysis Text
|Section 6: Course Wrap Up|
Course Wrap Up Test
Course Wrap Up Test Answers
Throughout my career and personal life, I have seen the universal application of accounting. Friends, Family, Clients- all from different walks of life have sought out basic advice on how to manage their personal finances and business. Whether it's advice on managing cash flow for a start up business or advice on the impact of taking out a mortgage on a house, I quickly realized that no matter what you do for a living, sooner or later you will need to develop a foundation of accounting knowledge. It is through these experiences that I became inspired to create a course that teaches the average individual concepts that he or she can apply to his or her day to day lives.
-Certified Public Accountant
-Founder at AcademyforAccounting
-Bachelors in Accounting from USC
-Masters in Business Taxation from USC
-Tax Consultant at one of the Big 4 Accounting Firms