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Bookkeeping for Beginners
Learn the basics of bookkeeping in various industries and business structuresPreview the first lesson free — get full access to all 32 lessons.
Beginner Provider : Anna Bull 7 chapters · 32 Lessons · 57m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
Any organization that wants to succeed financially will utilize certain processes. It’s important to understand the different types of financial statements and accounting methods in order to better apply them to your business. This course will cover every accounting term you need to know, the differences between businesses and how they prepare their financial statements, and guidelines from the Generally Accepted Accounting Principles.
Know the differences in accounting for specific industries
Identify the various types of business structures
What You'll Learn
- Identify the various types of business structures and how they prepare financial statements
- Apply accounting for specific industries
- Distinguish between the cash and accrual methods
- Utilize financial statements such as the income statement, cash flow statement, capital statement, and profit and loss statements
- Apply guidelines from the Generally Accepted Accounting Principles
- Use core bookkeeping concepts including the accounting equation, double-entry bookkeeping, accounts payable, accounts receivable, the journal, and the general ledger
Key Takeaways
- Understanding different types of financial statements and accounting methods helps you apply them to your business.
- Businesses differ in structure and in how they prepare their financial statements.
- The cash and accrual methods are two distinct accounting approaches with differences between them.
- The Generally Accepted Accounting Principles provide guidelines for accounting practices.
- Core bookkeeping rests on concepts such as the accounting equation, double-entry bookkeeping, assets, liabilities, and equity.
Frequently Asked Questions
Who is this course for?
It is designed for beginners learning bookkeeping, covering every accounting term you need to know and foundational practices for any organization that wants to succeed financially.
What topics does this course cover?
It covers accounting terms, accounting for specific industries, types of business structures, the Generally Accepted Accounting Principles, the cash and accrual methods, financial statements (income statement, cash flow statement, capital statement, profit and loss statements), the accounting equation, double-entry bookkeeping, assets, liabilities, equity, accounts payable, accounts receivable, the journal, the general ledger, and cash management.
What is the difference between the cash and accrual methods covered here?
The course teaches the cash method, the accrual method, and the differences between cash and accrual.
What skills will I gain from this course?
You will build skills in accounting, accounting management, accounting methods, basic accounting principles, bookkeeping, and financial accounting.
Are there assessments in this course?
Yes, the course includes multiple Test Your Knowledge sections throughout the lessons.
