Assets in Accounting

  • 4
Approx. 19 hours to complete

Course Summary

This course covers the fundamentals of accounting and financial statements, including how to analyze and interpret them. Students will learn how to use accounting information to make informed business decisions.

Key Learning Points

  • Gain a solid understanding of accounting principles and financial statements
  • Learn to analyze and interpret financial information to make informed business decisions
  • Practice real-world accounting scenarios to apply your knowledge

Related Topics for further study


Learning Outcomes

  • Gain a deep understanding of accounting principles and financial statements
  • Develop the ability to analyze and interpret financial information
  • Apply accounting knowledge to real-world scenarios

Prerequisites or good to have knowledge before taking this course

  • Basic math skills
  • Familiarity with spreadsheets

Course Difficulty Level

Beginner

Course Format

  • Online
  • Self-paced
  • Video lectures

Similar Courses

  • Financial Accounting Fundamentals
  • Introduction to Accounting: The Language of Business
  • Financial Management

Related Education Paths


Notable People in This Field

  • Ken Boyd
  • Mike Piper

Related Books

Description

In this second course, you will dive deeper into the world of bookkeeping and focus on accounting for assets. If you are familiar with bookkeeping basics, such as double entry accounting, you are ready for this course. You will gain an understanding of common asset types, learn how to account for inventory, calculate cost of goods sold, and work with Property, Plant, and Equipment (PP&E). Upon completing this course, you will use your new knowledge of assets to record transactions and produce financial statements for increasingly complex business situations.

Knowledge

  • Summarize the common types of assets a business may have.
  • Describe the importance of control over inventory.
  • Outline how depreciation expense is reported on an income statement.
  • Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.

Outline

  • Accounting Concepts and Measurement
  • Welcome to Intuit's Bookkeeping Certification Program
  • Welcome to Course 2: Accounting for Assets
  • Course Introduction Video
  • Instructor Introduction Video
  • Introduction to Asset Categories
  • Prepaid Expense
  • Contra-Asset Accounts
  • Summary and Wrap
  • Introduction to Accounting for Sales
  • Sales Types
  • Recording Cash Sales
  • Expert Advice on Posting Cash Sales
  • Recording a Sales Receipt Introduction
  • Recording a Sales Receipt
  • Timing Sales Receipt Posts
  • Introduction to Invoices
  • Accounting for Invoices Using Software
  • Checking in with Summer and Sophia
  • Introduction to Promissory Notes
  • Promissory Notes
  • Overview of Notes Receiveable
  • Journal Entries for Notes Receivable
  • Overview of Uncollectible Accounts
  • Bad Debt Overview and Write Off Methods
  • Lesson Summary and Wrap
  • Welcome Reading Assets in Accounting
  • Syllabus
  • Support / Coursera Support
  • How to Track Prepaid Expenses for Your Business
  • Categorize These Assets
  • Reading Quiz
  • Assets Practice Quiz
  • Sales Practice Quiz
  • Promissory Notes Practice Quiz
  • Accounting Concepts and Measurement Assessment
  • Inventory Accounting Methods
  • Welcome to Course 2: Accounting for Assets
  • Introduction and Learning Objectives
  • Merchandise Inventory
  • The Cost of Goods Sold
  • Inventory Systems
  • Perpetual Inventory Example
  • Inventory Cost Flows
  • First In, First Out
  • Lesson Summary and Wrap Up
  • Introduction and Objectives
  • Raw Materials
  • Journal Entries
  • Lesson Summary and Wrap
  • Introduction and Learning Objectives
  • Inventory Errors
  • Errors and the Income Statement
  • Errors and the Balance Sheet
  • Inventory Errors Example
  • Fixing Inventory Errors
  • Including Disclosures
  • Lesson Summary and Wrap
  • Merchandise Inventory Quiz
  • Costing Methods Quiz
  • Inventory Errors Quiz
  • Inventory Accounting Methods Assessment
  • Property and Equipment
  • Introduction and Objectives
  • Current and Noncurrent Assets Introduction
  • Impact of Booking Assets as Expenses
  • Setting Up a Fixed Asset Account in QuickBooks
  • Original Cost Implications
  • Lesson Summary and Wrap
  • Introducing Depreciation
  • Salvage Value
  • Introduction and Learning Objectives
  • Equipment Leases
  • Difference Between a Finance and Operating Lease
  • Journal Entry Set Up
  • Entering a Capital Lease in QuickBooks
  • Lesson Summary and Wrap Up
  • Job Readiness Commercial
  • PP&E Practice Quiz
  • Depreciation Quiz
  • Equipment Lease Quiz
  • Property and Equipment Assessment
  • Applying Accounting Principles and Knowledge
  • Introduction
  • Liability Payments
  • Cash and AR errors
  • Introduction
  • Introduction and Objectives
  • Meet the Business Owner
  • Introduction to Accounting for PP&E Life Cycle
  • Accounting for PP&E Life Cycle Purchases Demo
  • Accounting for PP&E Disposition Demo
  • Accounting for Leased Equipment Demo
  • Lesson Summary and Wrap
  • Assets in Accounting Case Study
  • Cash, accounts receivable, and cash receipts quiz
  • PP&E Concepts Quiz
  • Assets in Accounting Case Study Quiz

Summary of User Reviews

This accounting assets course on Coursera received great reviews from many users. It provides a comprehensive overview of accounting concepts and is taught by knowledgeable instructors. The course material is presented in a way that is easy to understand and follow. One key aspect that many users thought was good is the interactive nature of the course which allows for hands-on learning.

Pros from User Reviews

  • Comprehensive overview of accounting concepts
  • Knowledgeable instructors
  • Easy to understand and follow course material
  • Interactive nature of the course allows for hands-on learning

Cons from User Reviews

  • Some users found the course material to be too basic
  • The course may not be suitable for those with advanced accounting knowledge
  • The pace of the course may be too slow for some users
English
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Approx. 19 hours to complete
Intuit Professional Development
Intuit
Coursera

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