Accounting Guidance

Accounting Guidance

This course is for small retail/service business owners, retail store managers, department managers, ecommerce entrepreneurs, accounting students, or for anyone wanting to learn basic accounting. 

In this course, you will learn:

• You will learn basic accounting in order to record and analyze business transactions through the three major financial statements: Income Statement, Balance Sheet, and Statement of Cash Flow. 

• You will learn what debits and credits are, how to create journal entries, learn what normal account balances are, and what permanent and temporary accounts are. 

• You will learn what the all important accounting equation is and learn why every business transaction affects this equation. 

• You will learn what adjusting entries are during the accounting period close process.

• You will learn long-term asset cost allocation through depreciation. 

• You will learn inventory systems and inventory costing methods.

• You will learn how to record uncollectible receivables.   

• You will learn the accounts payable process and invoicing payment terms.

• You will learn financial ratios that every business owner and manager need to know in order to operate their business effectively.

• You will learn how to reconcile your business bank account.

• You will learn what the chart of accounts is and why you should tailor it to your specific business needs.

Learn Basic Accounting for Small Business and Ecommerce

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What you will learn

• Learn what accounting is and who are the users of your business financial information
• Learn what the balance sheet, income statement, and statement of cash flow are and what are the components of each
• Learn what accrual accounting is and what the revenue, matching, and cost principles mean and how each applies to accrual accounting

Rating: 4.16667

Level: Beginner Level

Duration: 3 hours

Instructor: Jon Searfoss