Introduction to Business Accounting

Course Overview

This course teaches students about accounting and business, the accounting equation, analyzing transactions, posting entries, the adjusting process, adjusting entries, the adjustment summary, preparing a worksheet, financial statements, completing the accounting cycle, the accounting cycle illustrated, and the fiscal year.

Course Introduction 2m

Chapter 01 – Professional Bookkeeper Introduction 9m
Professional Bookkeeper Introduction
Professional Bookkeeper
Potential Careers
Professional Bookkeeper Job Functions
Required Traits
Employment Outlook
Chapter 01 Review

Chapter 02 – Introduction to Accounting and Business 22m
Introduction to Accounting and Business
Defining a Business
Types of Businesses
Role of Accounting
Introduction – Role of Accounting
Ethics in Accounting
Generally Accepted Accounting Principles (GAAP)
The Business Entity Principle
Business Entity Principle
The Matching Principle
Other Principles
Chapter 02 Review

Chapter 03 – The Accounting Equation 32m
The Accounting Equation
Transactions – Knowledge Check
Transactions and Accounts
Other Common Revenue and Expense Accounts
Accounting Equation – Transactions
Financial Statements
Financial Statements – Income Statement
Financial Statements – The Statement of Owner’s Equity
Financial Statements – The Balance Sheet
Financial Statements – The Cash Flow Statement
Financial Statements – The Relationship
Chapter 03 Review

Chapter 04 – Analyzing Transactions 1h 23m
Analyzing Transactions
The Accounting Equation and Transactions
T – Accounts
Ledgers and Accounts
Chart of Accounts
Types of Accounts
Double-Entry System
Transactions – Double-Entry System
Transactions – Normal Balances
Knowledge Check
Transactions – Normal Balance
Knowledge Check (Cont.)
Journalizing Transactions
Transactions – Journalizing
Affect of Journals on the Accounts
Transactions – Journalizing (Cont.)
Demo – Journal Entries
Chapter 04 Review

Chapter 05 – Entering Information – Posting Entries 1h 28m
Entering Information – Posting Entries
Posting Entries
Entering Information – Posting Entries (Cont.)
Posting Entries (Cont.)
The Trial Balance
The Unadjusted Trial Balance
Entering Information – Errors
Entering Information – Correcting Entry
Finding Errors Using Horizontal Analysis
Demo – Horizontal Trend: Balance Sheet
Demo – Horizontal Trend: Income Statement
Chapter 05 Review

Chapter 06 – Adjusting Process 16m
Adjusting Process
The Purpose of the Adjusting Process
The Adjusting Process
Cash vs. Accrual Basis
Adjusting Process – Defined
Adjusting Process – Affected Accounts
Depreciation Adjustment
Chapter 06 Review

Chapter 07 – Adjusting Entries 33m
Adjusting Entries
Adjusting Entries – Prepaid Expenses
Impact of Adjusting Entries
Adjusting Entries – Unearned Revenues
Adjusting Process – Affected Accounts
Adjusting Entries – Accrued Revenues
Journal Entry – Accrued Revenues
Posting Accounts – Accrued Revenues
Adjusting Entries – Accrued Revenues (Cont.)
Adjusting Entries – Accrued Expenses
Journal Entry – Accrued Expenses
Posting Accounts – Accrued Expenses
Posting Entries – Accrued Expenses
Adjusting Entries – Accrued Expenses (Cont.)
Adjusting Entries – Depreciation Expense
Journal Entry – Depreciation Expense
Posting Accounts – Depreciation Expense
Book Value of a Fixed Asset
Adjusting Entries – Depreciation Expense (Cont.)
Chapter 07 Review

Chapter 08 – Adjustment Summary 47m
Adjustment Summary
Adjustment Summary – Review
The Adjusted Trial Balance
Check for Normal Balances and Debits = Credits
Vertical Analysis
Preparing Vertical Analysis
Vertical Analysis (Cont.)
Financial Statement Accuracy
Demo – Vertical Analysis
Chapter 08 Review

Chapter 09 – Preparing a Worksheet 6m
Preparing a Worksheet
Chapter 09 Review

Chapter 10 – Financial Statements 24m
Financial Statements
The Income Statement
Example Income Statement
The Statement of Retained Earnings
The Balance Sheet
Financial Statements – Definitions
Chapter 10 Review

Chapter 11 – Completing the Accounting Cycle 19m
Completing the Accounting Cycle
Temporary vs. Permanent Accounts
Closing Entries – Journalizing and Posting
Closing Entries – Journalizing
The Post-Closing Trial Balance
Closing Entries – Post-Closing Trial Balance
Chapter 11 Review

Chapter 12 – The Accounting Cycle Illustrated 23m
The Accounting Cycle Illustrated
Accounting Cycle Illustrated – Step 1
Accounting Cycle Illustrated – Step 2
Accounting Cycle Illustrated – Step 3
Accounting Cycle Illustrated – Step 4
Accounting Cycle Illustrated – Step 5
Accounting Cycle Illustrated – Step 6
Accounting Cycle Illustrated – Step 7
Accounting Cycle Illustrated – Step 8
Accounting Cycle Illustrated – Step 9
Accounting Cycle Illustrated – Step 10
Chapter 12 Review

Chapter 13 – Fiscal Year 9m
Fiscal Year
Fiscal Year
Additional Accounting Terms
Working Capital and Current Ratio
Chapter 13 Review

Chapter 14 – Spreadsheet Exercise 48m
Spreadsheet Exercise
Spreadsheet Exercise – Step 1
Spreadsheet Exercise – Step 2
Spreadsheet Exercise – Step 3
Spreadsheet Exercise – Step 4
Spreadsheet Exercise – Step 5
Spreadsheet Exercise – Step 6
Spreadsheet Exercise – Step 7
Demo – Creating a Worksheet
Chapter 14 Review

Course Closure

Total Duration: 7h 38m

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