The Basics of Accounting

Course details

This is an introductory course on accounting. The course explains the overall accounting process as well as how to post transactions to General Ledger Accounts and how financial statements are prepared through compiling transactions. The course also covers several important accounting principles such as accounting for gains and losses, depreciation, inventory, and deferred taxes. A supplemental workbook is included with this course to illustrate examples of how accounting works, consisting of sample transactions, posting transactions to accounts, compiling transactions through the Trial Balance, presenting the Financial Statements, reconciling the cash account, inventory accounting, accounting for variances, and account classifications.

This course is designed for people with little or no understanding of accounting. It does help to have a business background since various types of examples are rooted in business transactions.