In this course we will discuss debits and credits, the primary building blocks of accounting and financial statements. We will start with a brief overview of the core financial statements. From this we will discuss how each financial statement has accounts that are used to keep track of all the transactions a business takes part in. This leads to a conversation about “t-accounts”, debits and credits, and the behavior of accounts. Then we will work through an example of recording a variety of transactions into a ledger represented by t-accounts. Then we will prepare basic financial statements. This course will serve as review for accounting and finance professionals who need to sharpen their fundamental understanding of core accounting concepts and how they translate into the accounting and financial concepts we use to run companies.
- Teacher: umer data
SKU *: crs-1630095
Sell price $: 24.00
Course Preview:
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Course Short Description:
Sales 5
credit Hours: 0
CPE Credits Awarded *: 0
Approval Status: - None -
Course is for: ** Main Course Library **
Course Duration: 0
Complexity of Content: Foundational
Suppress in lists: No
Last Updated/Reviewed Date: March 4, 2024
Prerequisitses:
No Advanced Preparation or Prerequisites are needed for this course.
Learning Objective:
- Identify the accounting terms debit and credit.
- Identify how debits and credits are used in the double entry bookkeeping system.
- Discover how to record business transactions into an accounting ledger represented by t-accounts using debits and credits.
- Explore how a trial balance and the accounting equation provide a framework for companies to prepare financial statements.
Course Type: Non-CPE Course
Format: On Demand
Audit & Accounting: No
Careers: No
Ethics (NASBA): No
Excel: No
Finance: No
Human Resources (HR): No
Internal Audit: No
Leadership & Management: No
Marketing: No
Operations: No
Productivity & Tech: No
Risk Management: No
Sales: Yes
Tax: No
Field of Study: - None -
Other: No
CPA: No
CPD-IES7: No
CPD-IES8: No
CMA: No
CFE: No
Yellow Book: No
CGFM: No
CIA: No
CRMA: No
CPP: No
FPC: No
CTP: No
FP&A: No
CISM: No
CRISC: No
CISA: No
CIST: No
CRFS: No
SHRM-CP: No
SHRM-SCP: No
PHR: No
SPHR: No
GPHR: No
aPHR: No
PHRca: No
PHRi: No
SPHRi: No
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No advanced preparation or prerequisites are required for this course.
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*Prerequisites:
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 19 ILL 000</span> has been approved for 1.0 Recertification Credit Hour(s) toward CPP recertification through the American Payroll Association (APA). Please make note of the Course Code on your CPP Recertification Log. For more information about certification or recertification, please visit the APA website at <a href="http://www.americanpayroll.org/certification/recertification/">www.americanpayroll.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI"></td>
<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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