Learn Basic Accounting Fast & Easy!

Course details

Wouldn't it be great if learning basic accounting was fast and easy?

That's what this course is all about.

This course offers students, business owners, and bookkeepers resources that help you learn accounting quickly and easily.

We have a short series of bite-sized video lessons along with a course handout. In just 38 minutes, we use color-coded visuals, simple illustrations, and step-by-step walkthroughs to learn the most important basic accounting concepts.

ACCOUNTING IN 38 MINUTES COURSE OUTLINE:

 Accounting in 38 Minutes Course Intro (video 1 of 14)

PURPOSE OF ACCOUNTING

 Purpose of Accounting (video 2 of 14)

We spend a moment to cover the overall purpose of accounting. Everything else builds on this.

A TEAM POINTS ANALOGY

 Accounts & Ledgers ( ~ A Team Points Analogy ~ ) (video 3 of 14)

 Double-Entry Accounting ( ~ A Team Points Analogy ~ ) (video 4 of 14)

 The Accounting Equation ( ~ A Team Points Analogy ~ ) (video 5 of 14)

 Financial Statements ( ~ A Team Points Analogy ~ ) (video 6 of 14)

Videos 3-6. We learn the basics of accounting by building on what you already know how to do track points earned by a team and its players for games played in a season. Before you know it, you've learned the concept of accounts, ledgers, double-entry accounting, and the accounting equation. At this point we're ready to dive in to real-world accounting.

REAL-WORLD ACCOUNTING

 Accounts & Ledgers, Double-Entry Accounting, & The Accounting Equation (video 7 of 14)

 How to Record Transactions using the Accounting Equation & Double-Entry Accounting (video 8 of 14)

 How to Prepare Financial Statements (Balance Sheet & Income Statement) (video 9 of 14)

 General Ledger Accounts & the Chart of Accounts (video 10 of 14)

Videos 7-10. With the Team Points Analogy fresh on our minds at the end of video 6, we transition to real-world accounting. (1) Overall team points, (2) points scored by your teammates, and (3) points scored by you become (1) assets, (2) liabilities (debts), and (3) owners' equity. Each of these accounting terms are illustrated with simple definitions and examples. Armed with the understanding of what these terms represent and how they fit together, we learn how to record real-world business transactions. We also learn how to prepare the most important financial statements, to show summaries of the business transactions we've recorded over time.

DEBITS & CREDITS

 Intro to Debits & Credits (video 11 of 14)

 How to use Debits & Credits to Record Transactions & Prepare Financial Statements (Balance Sheet & Income Statement) (video 12 of 14)

 Debits & Credits Quick Reference (video 13 of 14)

Videos 11 14. Videos 2-10 gave us a solid grasp of core accounting topics using plusses and minuses. By video 11 we're ready to learn how to use debits and credits to record business transactions, rather than plusses and minuses. We see that preparing the financial statements from debits and credits is very easy business. We conclude with a quick reference chart for debits and credits that makes it easy to recall how to use debits and credits to record every type of transaction.

CONGRATULATIONS

 Congratulations, Course Summary, & Links (video 14 of 14)