Financial accounting for a service business

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.MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Genre: eLearning | Language: English + .VTT | Duration: 3 hours | Size: 1.12 GB
Concepts and analysis in financial accounting

What you'll learn
Students will learn how to define accounting and identify the users of accounting information.
Students will learn about the main assumptions used in accounting and why they are used.
Students will learn about the matching concept and why it is important in accounting.
Students will learn about accounting standards and conventions and why they are used in accounting.
Students will learn about the cash and accrual systems used in accounting.
Students will learn about the accounting cycle and the stages in the accounting cycle.
Students will learn how to view the accounting system in terms of inputs, processes and outputs.
Students will learn about different business structures such as sole traders, partnerships and companies.
Students will learn about service businesses.
Students will learn about a goods and services tax and how to record transactions which include a goods and services tax.
Students will learn about sales and purchase discounts and how to record transactions involving purchase and sales discounts.
Students will learn about accounts receivable and accounts payable.
Students will learn about depreciation and how to record transactions involving depreciation.
Students will learn about the basic and extended form of the accounting equation.
Students will learn about the components in the basic and extended form of the accounting equation and what they mean.
Students will learn how to rearrange the components of the extended form of the accounting equation.
Students will learn about the double entry rules of accounting and how they are applied to the basic and extended form of the accounting equation.
Students will learn how to classify and analyse transactions involving a service business using a transaction analysis table.
Students will learn how to process general journal entries for a service business.
Students will learn how to post general journal entries to the general ledger accounts.
Students will learn how to construct a trial balance.
Students will learn how to record adjusting journal entries for a service business.
Students will learn how to construct an adjusted trial balance using a 10-column worksheet.
Students will learn how to prepare an income statement for a service business.
Students will learn how to prepare a balance sheet for a service business.
Students will learn how to prepare a cash flow statement for a service business.
Requirements
There are no formal prerequisites for this course.
Understanding of basic maths will be helpful.
A basic calculator, pen and writing paper is required.
Description
*This course will facilitate the development of accounting knowledge and skills for students.
*Students will be introduced to the conceptual foundations of accounting including the accounting cycle and double-entry rules of accounting.
Students will learn how to:
*Classify and analyze transactions.
*Process general journal entries.
*Construct general ledger accounts.
*Prepare an adjusted trial balance and 10-column worksheet.
*Prepare financial statements such as an income statement and balance sheet.
Course requirements
*Students can successfully complete this course with minimal or no prior knowledge of accounting.
*Understanding of basic math is recommended.
*A basic calculator, pen and writing paper are required.
Who this course is for:
Beginning or continuing students of accounting will find this course valuable.
Small business owners and managers will find this course useful.








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