Accounting Acumen Level 1- Basic Financial Accounting

Accounting Acumen Level 1: Basic Financial Accounting, available at $69.99, has an average rating of 4.35, with 38 lectures, 4 quizzes, based on 17 reviews, and has 58 subscribers.

You will learn about Master the first level of fundamental accounting skills, in preparation to learn how to read and analyse financial statements, which are offered in a second course. This course is ideal for individuals who are People with no accounting background that wants to learn the language of business so that they can have more insight into their personal finances, corporate finances of their own small or large companies; or clients financial position or financial statements. It is particularly useful for People with no accounting background that wants to learn the language of business so that they can have more insight into their personal finances, corporate finances of their own small or large companies; or clients financial position or financial statements.

Enroll now: Accounting Acumen Level 1: Basic Financial Accounting

Summary

Title: Accounting Acumen Level 1: Basic Financial Accounting

Price: $69.99

Average Rating: 4.35

Number of Lectures: 38

Number of Quizzes: 4

Number of Published Lectures: 38

Number of Published Quizzes: 4

Number of Curriculum Items: 42

Number of Published Curriculum Objects: 42

Original Price: $89.99

Quality Status: approved

Status: Live

What You Will Learn

Master the first level of fundamental accounting skills, in preparation to learn how to read and analyse financial statements, which are offered in a second course.

Who Should Attend

People with no accounting background that wants to learn the language of business so that they can have more insight into their personal finances, corporate finances of their own small or large companies; or clients financial position or financial statements.

Target Audiences

People with no accounting background that wants to learn the language of business so that they can have more insight into their personal finances, corporate finances of their own small or large companies; or clients financial position or financial statements.

Accounting Acumen is the ability to make good judgements and quick business decisions, based on accounting information. It is the first step in learning how to understand business language and to read and analyse financial statements. Level 1 is a foundational course, covering basic accounting principles and mechanics that will prepare you for more advanced levels of understanding and analysis. Level 1 follows a very practical approach that will teach you what a business is and the legal forms businesses can use; the typical transactions a business will conduct and how to record these transactions. It will teach you about the accounting process (based on the accounting equation) that is necessary to transform the transactional data into useful information that tells the story of a business.

You will learn about the three main steps in the accounting process, which is just like any typical process:

INPUTS, such as journals and special journals;

PROCESSING, such as posting to ledger accounts, and different types of accounts and special ledgers; and

OUTPUTS, such as the trial balance and how and when to adjust it.

Most importantly, you will learn all about how the financial information in the Trial Balance is packaged into the REPORTS that form the Financial Statements based on rules that are much like language rules, namely:

Income Statement;

Statements if Changes in Equity;

Balance Sheet; and

Cash Flow Statements.

This will enable you to complete the full accounting process by:

identifying accounting source documents containing transactions;

recording these transactions in various journals;

posting the journals to various ledgers accounts;

assemble a trial balance;

make adjusting entries to finalise the trial balance;

assemble the financial statement reports: i.e an income statement, statement if changes in equity, balance sheet from the trial balance.

You will test your newly acquired skills by completing an integrated exercise covering the entire accounting process, as described above.

This will prepare you to advance to the next levels of Accounting Acumen.

Come explore with me and learn a new skill!

Course Curriculum

Chapter 1: OVERVIEW OF COURSE

Lecture 1: INTRODUCTION

Lecture 2: MAIN COURSE PLAN

Chapter 2: CHAPTER 1: FOUNDATIONS

Lecture 1: BUSINESS TRANSACTIONS

Lecture 2: BUSINESS LEGAL FORMS

Lecture 3: FINANCING

Lecture 4: RELIABLE INFORMATION

Lecture 5: FINANCIAL POSITION

Lecture 6: DOUBLE ENTRY SYSTEM

Lecture 7: JOURNALS

Lecture 8: POSTING TO THE GENERAL LEDGER (WITH EXERCISE)

Chapter 3: CHAPTER 2:OVERVIEW OF FINANCIAL STATEMENTS

Lecture 1: OVERVIEW OF THE BALANCE SHEET

Lecture 2: BALANCE SHEET EXAMPLE

Lecture 3: OVERVIEW OF THE INCOME STATEMENT

Lecture 4: INCOME STATEMENT EXAMPLE

Lecture 5: OVERVIEW OF THE STATEMENT OF CHANGES IN EQUITY

Lecture 6: EXAMPLE: STATEMENT OF CHANGES IN EQUITY

Lecture 7: OVERVIEW OF THE CASH FLOW STATEMENT

Lecture 8: OVERVIEW OF REPORT FORMATS

Lecture 9: INTEGRATION OF REPORTS

Chapter 4: CHAPTER 3: THE ACCOUNTING PROCESS PART I

Lecture 1: OVERVIEW OF THE ACCOUNTING PROCESS

Lecture 2: INPUTS: TRANSACTION TYPES

Lecture 3: INPUTS: DEBITS AND CREDITS

Lecture 4: INPUTS: GENERAL JOURNAL

Lecture 5: INPUTS: SPECIAL JOURNALS (WITH EXERCISE)

Lecture 6: PROCESS: GENERAL LEDGER

Lecture 7: PROCESS: SUBSIDIARY LEDGERS

Lecture 8: PROCESS: SUBSIDIARY LEDGERS (CASH)

Lecture 9: PROCESS: SUBSIDIARY LEDGERS (INVENTORY)

Chapter 5: CHAPTER 4: THE ACCOUNTING PROCESS PART II

Lecture 1: OUTPUT: TRIAL BALANCE TO FINANCIAL STATEMENTS (WITH EXERCISE)

Lecture 2: ACCRUAL ACCOUNTING

Lecture 3: ADJUSTING ENTRIES PART I

Lecture 4: ADJUSTING ENTRIES PART II

Lecture 5: DEPRECIATION

Lecture 6: CLOSING ENTRIES (WITH EXERCISE)

Lecture 7: INTEGRATED ASSIGNMENT INSTRUCTION PART I

Lecture 8: INTEGRATED ASSIGNMENT INSTRUCTION PART II

Lecture 9: INTEGRATED ASSIGNMENT INSTRUCTION PART III

Chapter 6: BONUS SECTION

Lecture 1: BONUS LECTURE

Instructors

Prof Anneline Venter JSD CA(SA) RA
Professor and Doctor of Tax Law

Rating Distribution

1 stars: 0 votes

2 stars: 1 votes

3 stars: 0 votes

4 stars: 4 votes

5 stars: 12 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!