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Learn Basic Accounting in 90 Minutes

2 hours on-demand video

$ 12.99

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Brief Introduction

All You Need to Know about Accounting

Description

Accounting is the process of Recording, Posting, and Reporting for monetary transactions in a business entity. Many people may think accounting is hard and need very good mathematics. But the accounting is an ART, It needs logic thinking. In this Basic Accounting course, you will learn the basic accounting principle: Debit and Credit, the mechanism, the core and beauty of accounting.

I will use Excel to teach you the basic Book Keeping, Profit and Loss Account, Basic Balance Sheet. This will help you to read the Complicate Financial Statements, to do Bank Account Reconciliation and control Your Cash.

Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.

Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting. Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

Even though accounting has existed in various forms and levels of sophistication throughout many human societies, and the double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[10] and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).

Requirements

Requirements
Pen and Brain
Time - 90 Minutes or Shorter

Knowledge

Grasp the Basic Picture of Accounting
Understanding the Basic Principle of Accounting
Know Accounting is ART, not math
The Beauty of Debit and Credit
Can do basic Book Keeping
Can Prepare the Basic Profit and Loss Account
Can Prepare the Basic Balance Sheet (or Shit IF not Balance)
Can Read the Complicate Financial Statements
Can do Bank Account Reconciliation.
Can control Your Cash
Using Excel to Do Accounting, No Sweats to facing Accounting Software

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