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In this course, the accounting equation of Assets = Liabilities + Shareholder Equity is expanded upon to understand how debits and credits are used to stay in balance. Core accounting tools are presented, including t-accounts, ledgers, journals and trial balances.
You will gain an understanding of how each of these tools interacts with one another and its distinct purpose in an accounting system. There are many opportunities for hands-on practice in this course.
Course Series
This course is included in the following series:
11 CoursesBack to the Basics: Accounting Fundamentals
- Accounting Review: The Basics of Debits and Credits
- Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances
- Accounting Review: Overview of Financial Statements; P&L, Balance Sheet, and Cash Flow
- The Accounting Equation and Financial Statements
- Bank Reconciliations, Cash, and Internal Controls
- Accounts Receivable Training: Bad Debts
- Equipment and Depreciation
- Inventory Costing
- Purchase and Sale of Inventory
- The Adjusting Process
- The Closing Process
Learning Objectives
- Identify the classification of accounts and recognize how they are impacted by debits and credits
- Discover how to implement t-accounts and ledgers to perform transaction analysis
- Discover how to use journal entries to record transactions
- Recognize how to perform transaction analysis using journal entries
- Identify the steps of the accounting cycle
Last updated/reviewed: September 18, 2018
28 Reviews (94 ratings)Reviews
Anonymous
(Bookkeeper)
Found the course to be a great refresher course on the fundamentals of financial accounting. The instructor is clear and easy to understand. However there is one aspect of these courses that I really dislike. The instructor writes on the screen and it is very slow. This wastes time and is annoying to the viewer. I found the workbook to be very helpful in applying the concepts taught.
Anonymous
(Accountant)
this course was very 'beginner-friendly' and provided several examples. I agree with some of the other reviews that the format used with the instructor writing/drawing out everything could have been better. A simple power point presentation would have been easier to read and would have allowed plenty of space to include everything.
Anonymous
(Senior Finance Manager)
Much more clear than a general accounting course on here. Useful & understandable ... again the exam was a bit difficult for what was explained in the lessons, but it wasn't unmanageable.
Anonymous
(-)
Demonstrates how to account for standard daily transactions. How to go from the entry to the scenario represented and vice versa.
Anonymous
(Finance & Strategic Planning Consultant)
very basic, easy to follow - individuals with no accounting or finance backgrounds will get the most out of this course
Vera Nickelsen
(Fraud Agent at Intuit)
it seems kind of dry in the presentation. I would love some info on not using T-accounts.
Grant Brannum
(Agent at Treasury)
Course was a good review of debit and credit functions and was explained well.
Corey Masters
(Risk and Control Self Assessment at PNC Capital Advisors)
A good refresher course on accounting basics. Good for my new job position.
Lauren Keppler
(Tax Senior at EKS&H)
Good course for basic accounting 101, especially if you like T-accounts
Monica Burgos
(- at Monica Burgos)
Some of the exam questions need to be reevaluated as they are unclear.
Anonymous
(CPA)
Good review of basic principles to keep me in shape !
Benjamen Adams
(Not Provided at Adams Group)
Another great course and so much knowledge gained.
Steven Moore
(Certified Management Accountant; CMA at ArdentAccounting)
A decent basic accounting review. Thanks!
Anonymous
(None)
Good working examples of the concepts.
Anonymous
(Treasury and Fixed Asset Accountant/Reco..)
Took too long to write words.
Kevin Murray
(Manager of Finance at NYSTRS)
A good entry level program.
Simon Adell
(Chief Financial Officer at Undisclosed)
Solid overview of the topic.
Charles Elwis
(None at none)
Good review of bookkeeping
Todd Stanley
(Fiscal Officer at County of Passaic)
good basic refresher course
Anonymous
(Budget & Accounting Manager)
Review of journal entries
Lynne Bromley Holloman
(Accounting Manager at Woodside Equine Clinic)
Very informative course.
Theodore Zeck
(Accounting Systems Specialist at Whitestone REIT)
Enjoyed the course.
Anonymous
(None)
Good basic review.
Anonymous
(None)
Good course
Anonymous
(General Accountant & senior Auditor)
Very NICE
Anonymous
()
Good pace
Patrenia McAbee
(Owner at McAbee Consulting)
Done
John Thompson
(CEO at westward mgt)
Good
Prerequisites
Course Complexity: Foundational
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .