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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

  1. Accounting Review: The Basics of Debits and Credits
  2. Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances
  3. Accounting Review: Overview of Financial Statements; P&L, Balance Sheet, and Cash Flow
  4. The Accounting Equation and Financial Statements
  5. Bank Reconciliations, Cash, and Internal Controls
  6. Accounts Receivable Training: Bad Debts
  7. Equipment and Depreciation
  8. Inventory Costing
  9. Purchase and Sale of Inventory
  10. The Adjusting Process
  11. 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 Author
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.
4
Anonymous Author
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.
4
Anonymous Author
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.
5
Anonymous Author
Demonstrates how to account for standard daily transactions. How to go from the entry to the scenario represented and vice versa.
5
Anonymous Author
very basic, easy to follow - individuals with no accounting or finance backgrounds will get the most out of this course
4
Member's Profile
it seems kind of dry in the presentation. I would love some info on not using T-accounts.
4
Member's Profile
Course was a good review of debit and credit functions and was explained well.
5
Member's Profile
A good refresher course on accounting basics. Good for my new job position.
4
Member's Profile
Good course for basic accounting 101, especially if you like T-accounts
3
Member's Profile
Some of the exam questions need to be reevaluated as they are unclear.
4
Anonymous Author
Good review of basic principles to keep me in shape !
5
Member's Profile
Another great course and so much knowledge gained.
5
Member's Profile
A decent basic accounting review. Thanks!
4
Anonymous Author
Good working examples of the concepts.
3
Anonymous Author
Took too long to write words.
Member's Profile
A good entry level program.
5
Member's Profile
Solid overview of the topic.
5
Member's Profile
Good review of bookkeeping
4
Member's Profile
good basic refresher course
5
Anonymous Author
Review of journal entries
5
Member's Profile
Very informative course.
5
Member's Profile
Enjoyed the course.
5
Anonymous Author
Good basic review.
5
Anonymous Author
Good course
4
Anonymous Author
Very NICE
5
Anonymous Author
Good pace
4
Member's Profile
Done
4
Member's Profile
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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:11Introduction to Day to Day Transactions
Day to Day Transactions
  12:02Basics of Debits and Credits
  14:04Utilizing T Accounts
  9:57Exploring Journal Entries
  9:43Journal Vs. Ledger
  6:25Example: Posting Journal Entries to Ledger
  4:47Review of Journal Entry and Ledger Posting
CONCLUSION
  14:50Creating a Trial Balance
CONTINUOUS PLAY
  1:15:59Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances ful video Udemy
SUPPORTING MATERIALS
  PDFNotes Template: Day to Day Transactions
  PDFWorkbook: Day to Day Transactions
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM