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Full Cycle Bookkeeping & Accounting (Beginner to Advanced)

What you will learn

Bookkeeping & Accounting Basics

The Accounting Equation

Double Entry

Books of Original Entries

Accounting Ledgers

Trial Balance

Income Statement/ Profit & Loss of a Sole Trader

Balance Sheet/ Statement of Financial Position of a Sole Trader

Adjusting Entries

Inventory/ Stock

Description

Are you ready to demystify the world of accounting and gain a solid foundation in financial management? Whether you’re an aspiring accountant, small business owner, manager, or simply someone who wants to understand the language of business, this comprehensive Udemy course is designed to provide you with a thorough understanding of accounting principles, practices, and financial statements.

In “Comprehensive Bookkeeping & Accounting Basics: From Basics to Advanced,” I will guide you on a step-by-step journey through the key concepts of accounting, from the fundamental principles to advanced financial analysis techniques. With a focus on practical application, this course ensures that you not only grasp the theory behind accounting but also gain the skills to confidently manage financial information for personal or professional use.

Course Highlights:

Accounting Basics and Terminology: Understand the core principles of accounting, learn the essential terminology, and grasp the double-entry bookkeeping system that forms the foundation of modern accounting.

Financial Statements Decoded: Dive into the creation and interpretation of financial statements, including balance sheets, income statements. Discover how these documents provide crucial insights into an organization’s financial health.


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Recording Transactions: Learn how to record various types of transactions accurately and systematically, and become proficient in journal entries, ledgers, and trial balances.

Adjusting Entries and Accrual Accounting: Gain a deeper understanding of accrual accounting and learn how to make necessary adjustments to ensure accurate financial reporting.

Inventory Valuation: Explore different methods of valuing inventory, such as FIFO, LIFO, and weighted average, and understand how these methods impact financial statements.

By the end of this course, you’ll not only have a firm grasp of accounting theory but also the confidence and skills to apply your knowledge in real-world scenarios. Whether you’re looking to advance your career, manage your personal finances more effectively, or navigate the financial side of your business, this course is your gateway to mastering the world of accounting.

Enroll now and embark on your journey to becoming a financially savvy individual or professional in the dynamic realm of accounting!

English
language

Content

Introduction to Bookkeeping & Accounting, the Accounting Equation.

Introduction- Definition of Accounting
Bookkeeping
The Accounting Equation
The Accounting Equation Continued
Example
Summary
Overview of Financial Statements
Overview of Financial Statements 2

Double Entry, T-Accounts, Key Terms, and Balancing Off Accounts

Double Entry System
Double Entry System Continued
Examples 1
Examples 1 Cont’d
Examples 2
Key Terms
Key Terms Cont’d
Example
Balancing Off Accounts
Example

Accounting for Inventory/Stock, Valuation of Inventory

Definition & Types of Inventory
Inventory Movement
Returns In
Returns Out
A Comprehensive Example
A Comprehensive Example Cont’d
Special meanings for the terms “Sales” and ‘Purchases”
Comprehensive Example 2
Comprehensive Example 2 Continued
Comprehensive Example 2 Continued..
Inventory/Stock Valuation

The Effect of Profit or Loss on Capital, and Double Entry for Expenses & Revenue

The Effect of Profit/ Loss on Capital
Example
Example Continued
Double Entry for Expenses & Revenue
Example

Books of Original Entries, &Ledgers

Sales Day Book
Purchases Day Book
Returns Inwards Day Book
Returns Outwards Day Book
The Journal
Introduction to Ledgers, Sales Ledger
Purchases Ledger
Treatment for Returns In and Returns Out

The Trial Balance

Introduction
Example
Example Cont’d
Example Cont’d 2
Errors not Affecting Trail Balance Agreement

Financial Statements

Financial Statements Definition
Statement of Profit & Loss/ Income Statement
Example 2
Balance Sheet / Statement of Financial Position
Example 1
Example 2
Example 1
Balance Sheet Components

Adjustments to Financial Statements

Adjustments Definition, Bad Debts, Doubtful Debts
Provision for Doubtful Debts Accounting Treatment
Provision for Cash Discounts
Depreciation
Depreciation methods
Accounting Treatment for Depreciation
Disposal/ Sale of a Non-Current Asset
Example
Accruals & Prepayments
Accrual Accounting
Adjusting Entries
Accrued Expenses Accounting Treatment
Accrued Revenue
Deferred Revenue
Expenses & Revenues Covering More than One Accounting Period

Module Nine (9)- Comprehensive Examples

Example 1
Example 1b
Example 2a
Example 2b
Example 2c
Financials of Other Industries