$ 19.99

Lifetime access

Abdirahman Awale

The course starts on TODAYNovember 23, 2024

Course will end on January 22, 2025

6 Weeks (4-6 hours per week)

Last update on November 19, 2024

Accounting 101: Mastering the Accounting Cycle

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In this hands-on course you will practice completing each step of the accounting cycle, from analyzing and recording the first financial transactions of the year all the way through starting the new fiscal year. The skills covered in this course include recording in the journal, posting in the ledgers, preparing financial statements, recording and posting closing entries, as well as preparing trial balances

Somali

Self Paced

Verified certificate

ABOUT THIS COURSE

This course includes 6 interconnected modules which collectively cover each step of the accounting cycle. At the end of each module, you will have the opportunity to practice the skills you have learn

What you'll learn

1. Understand the core concepts, the accounting equation, and how business transactions are analyzed.

2. Learn how to record transactions in journals, post them to ledgers, and prepare trial balances.

3. Understand the need for adjusting entries, including those for prepaid expenses, unearned revenue, accrued revenue, and accrued expenses, and prepare adjusted trial balances.

4. Learn the basics of financial statements, including the income statement, owner's equity statement, balance sheet, and statement of cash flows.

5. Understand the process of closing the books, including preparing and posting closing entries and preparing post-closing trial balances.

6. Apply all the learned concepts through a comprehensive case study, covering the entire accounting cycle from analyzing transactions to preparing post-closing trial balances

Course content

Workshop 1: Foundations of Accounting: Core Concepts and Applications

Course Introduction

1 lectures

Lesson1 : What's Accounting

2 lectures

Lesson 2: Who Uses Accounting Data

2 lectures

Lesson 3: The Building Blocks of Accounting

2 lectures

Lesson 4: Forms of Business Ownership

2 lectures

Lesson 5: The Accounting Equation

2 lectures

Lesson 6: Expanded Accounting Equation

2 lectures

Lesson 7: Analyzing Business Transactions

2 lectures

Lesson 8: Accounting Cycle Review

1 lectures

Workshop Assessment

1 lectures

Workshop 2: The Recording Process

Lesson 1: Understanding Account, Debits and Credits

2 lectures

Lesson 2: The Recording Process

2 lectures

Lesson 3: Ledger and Posting Transactions

2 lectures

Lesson 4: Recording Process Example 1

1 lectures

Lesson 5: Recording Process Example 2

2 lectures

Lesson 6: Preparing Trail Balance

2 lectures

Lesson 7: Accounting Cycle Review

1 lectures

Workshop Assessment

1 lectures

Workshop 3: Adjusting the Accounts

Lesson 1: Revenue Recognition Principle

2 lectures

Lesson 2: The Need for Adjusting Entries

2 lectures

Lesson 3: Adjusting Entries for Prepaid Expenses

2 lectures

Lesson 4: Adjusting Entries for Unearned Revenue

2 lectures

Lesson 5: Adjusting Entries for Accrued Revenue

2 lectures

Lesson 6: Adjusting Entries for Accrued Expenses

2 lectures

Lesson 7: Preparing Adjusted Trail Balance

2 lectures

Lesson 8: Accounting Cycle Review

1 lectures

Workshop Assessment

1 lectures

Workshop 4: Preparing Basic Financial Statements

Lesson 1: The Basics of Financial Statements

2 lectures

Lesson 2: Income Statement

2 lectures

Lesson 3: Owner's Equity Statement

2 lectures

Lesson 4: Balance Sheet

2 lectures

Lesson 5: Statement of Cash Flows

1 lectures

Lesson 6: Accounting Cycle Review

1 lectures

Workshop Assessment

1 lectures

Workshop 5: Completing the Accounting Cycle

Lesson 1: Closing the Books

1 lectures

Lesson 2: Temporary and Permanent Accounts

2 lectures

Lesson 3: Preparing Closing Entries

2 lectures

Lesson 4: Preparing Closing Entries Example

1 lectures

Lesson 5: Posting the Closing Entries

1 lectures

Lesson 6: Preparing Post-Closing Trial Balance

2 lectures

Lesson 7: Accounting Cycle Review

1 lectures

Workshop Assessment

1 lectures

Workshop 6: Comprehensive Case Study on the Accounting Cycle

Lesson 1: Introduction to the Case Study

1 lectures

Lesson 2: Analyze business transactions

1 lectures

Lesson 3: Journalize the transactions

1 lectures

Lesson 4: Post to ledger accounts

1 lectures

Lesson 5: Prepare a trial balance

1 lectures

Lesson 6: Journalize and post adjusting entries

1 lectures

Lesson 7: Prepare an adjusted trial balance

1 lectures

Lesson 8: Prepare financial statements

1 lectures

Lesson 9: Journalize and post-closing entries

1 lectures

Lesson 10: Prepare a post-closing trial balance

2 lectures

Final Assessment

1 lectures

Instructors

Abdirahman Awale

34 Learners

1 Course