Demand for accounting professionals currently exceeds supply. If you're interested in increasing your financial awareness while also gaining a marketable skill, this course is for you. You'll learn the basics of double-entry bookkeeping, as well as how to analyze and record financial transactions. You'll get hands-on experience with handling accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities. We'll cover all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Whether you're a sole proprietor looking to manage your business finances or you simply want to gain an understanding of accounting basics for career advancement, this course will give you a solid foundation in financial matters.
A new session of each course starts monthly. If enrolling in a series of two or
more courses, please be sure to space the start date for each course at least two
All courses run for six weeks, with a two-week grace period at the end. Two lessons
are released each week for the six-week duration of the course. You do not have
to be present when lessons are released. You will have access to all lessons until
the course ends. However, the interactive discussion area that accompanies each
lesson will automatically close two weeks after the lesson is released. As such,
we strongly recommend that you complete each lesson within two weeks of its release.
The final exam will be released on the same day as the last lesson. Once the final
exam has been released, you will have two weeks to complete all of your course work,
including the final exam.
Welcome to Accounting Fundamentals! In this first lesson, you'll learn all about account classifications, debits, credits, and T accounts. You'll learn the difference between a liability and an asset, and you'll find out how to determine an owner’s equity.
Here's where you'll begin your hands-on accounting practice: You'll start by creating an imaginary company for which you'll be the accountant. You'll learn how to analyze your company's transactions to determine which amounts go into which accounts, then you'll create your company's own General Ledger forms and post a few transactions into those accounts. You'll also prepare a Balance Sheet to prove your accounting equations.
Now that you have an understanding of the functions of the General Ledger, you're ready to move on to the next phase of recording transactions: the Journal. In this lesson, you'll learn how to enter transactions into an 11-column journal and then post or transfer those amounts into appropriate General Ledger accounts.
In this lesson, you'll learn all about Accounts Payable--money that you owe your vendors and suppliers. You'll practice journalizing cash purchases and purchases on account, and you'll get hands-on practice transferring those purchases to their corresponding Accounts Payable Ledger accounts.
In this lesson, you'll learn about Accounts Receivable, which is another name for money owed to your company by its customers. You'll learn how to journalize and post those sales on account, how to enter charge sales into the journal, and how to transfer the information into an Accounts Receivable Ledger.
It's payday! This lesson will teach you how to determine gross pay, deductions, and net pay. You'll learn how to prepare a payroll, write payroll checks, and how to prepare and maintain accurate payroll records.
In this lesson, you'll learn all about banks and banking services: You'll learn the proper way to write checks, make out deposit tickets, and reconcile your company's checking account with the bank statement--skills you'll find valuable in both your business and personal life!
This lesson will teach you how to prepare a Schedule of Accounts Payable and a Schedule of Accounts Receivable. These reports can be used to compare the amount of money your business owes its creditors with the amount of money your customers owe your business.
In this lesson, you'll prepare a worksheet showing the net income or net loss for the fiscal period. The worksheet will show all income and expenses for the fiscal period as well as the assets, liabilities, and owner’s equity account balances.
In this lesson, you will learn how to prepare various reports that are vital to the well-being of your company. You'll learn how these reports can be used to make sound financial decisions in the next fiscal period. You will discover how to put together an Owner’s Equity Statement, an Income Statement, and a Distribution of Net Income.
In this lesson, you'll prepare for the end of the fiscal period by adjusting your asset account balances to accurately reflect the assets remaining at the end of the year. You will also find out how to journalize and post adjusting and closing entries to bring your company's General Ledger up to date.
In our final lesson, we will prepare a Post Closing Trial Balance report to ensure that all of our debits and credits in the General Ledger balance out in preparation for the new fiscal period.
• Internet access
• One of the following browsers:
o Mozilla Firefox
o Microsoft Internet Explorer (9.0 or above)
o Google Chrome
• Adobe PDF plug-in (a free download obtained at Adobe.com .)
With more than 20 years of teaching experience to her credit, Charlene Messier had 12 years of practical experience in business following her college training. She now teaches business subjects to over 100 students a year at the quaint New England Village High School from which she graduated 35 years ago. She specializes in teaching adult education courses in accounting, word processing, business law, and business economics.
EMPOWERING is the word to describe this class. I am a small business owner who now understands accounting much better than I had in years. I can actually see the light at the end of the tunnel. I look forward to the next class to not only increase my knowledge, but enhance my business and myself. Thank you so much for offering this class as well as teaching it.
I am 47 years old and entered the work force immediately after graduating high school. I have never taken any college courses and was a little scared to try. This class was a tremendous boost to me. I was able to follow it with little effort thanks to the examples and easy to follow instructions from Charlene. Thanks.
I loved this course and have already suggested it to others in may company. The instructor was wonderful. It felt as if she and I were just talking about accounting and I was learning from our conversation. I did not feel like I was in a class at all. I loved it from start to finish. Thanks to my instructor and for offering this course online.
I'd like to thank you for this experience to learn accounting fundamentals. It has been a great journey for me. You have helped to me to complete one of my dreams. I started this class with two goals: to learn accounting and understand my childhood and my mother better. I started as a daughter of a reputable accountant mother. I've grown up hearing all the terminologies, have see the transaction bounded in books, different journal, ledger, and saw my mother work with her co-worker friends at my home and her office. I wasn't interested in it. I went through some difficult times and I thought about her. She passed away from cancer. I finally decided to tak an accounting class and I found this one. Your class has changed my life.
Thank you Charlene for a great experience! I loved the class and learned a lot. Your teaching style is terrific, easy to follow and you certainly know how to keep students relaxed and interested. I would highly recommend this class to others and I intend to follow-up with the second accounting course. Also, kudos to ed2go. It's a great place for learning online.
I am so happy that I took this class, and Ms. Messier you are wonderful! My area of expertise is Accounts Payable and Payroll Processing, by taking this course I understand so much and have gained so much knowledge of accounting fundamentals...No more will I be puzzled when I review my company's annual report. This course was well structured and I was amazed how it was presented online. I am so in love with accounting! Thank you so much!
I would like to thank you, Ms. Messier, for this wonderful course. I have learned a lot and it refreshed my memory from the things I learned back in high school. The course was well instructed and easy to follow. I scored a 100% on the final and I'm very excited. Also, I am very excited to be able to use these new skills in a new career. I am currently looking for an accounting position and I know that this course has helped a lot.
This lesson was a lot of fun! I have always enjoyed accounts receivable and accounts payable! Taking your class proves I have a real passion for accounting, thank you. My wish is after taking this class and Accounting Fundamentals II, I can land a entry-level job doing either accounts receivable or accounts payable. You have done an excellent job making everything I have had to do so far in all eight lessons understandable!
I wanted to tell you that I have been doing accounting/bookkeeping for about two years now. We rely on QuickBooks as well as Excel. When I first started this course, it was extremely confusing for me because the way things are done now is very different. There isn't much that is done on paper, and the accounting programs do a lot of the work for you.
So coming into this I thought it would be much easier. The problem was that even though I could enter something into the accounting program as I do on a daily basis for all of our accounts, I didn't actually understand what was happening behind the scenes. It seemed useless for me to learn all of this, as it isn't done anymore. But it has taught me so many things that I didn't know were happening without me knowing about it. Which is making it so that when there is a problem or discrepancy I can actually fix it. Before I would need to call my boss to help. My point? :) It is well worth learning how it used to be done.
Charlene, thank you very much for all of the amazing instruction. It has been the best experience learning and acquiring knowledge for my professional life. I am going to take the next level. Thank you again.
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