Basic Accounting Concepts & Cycle in Less than 40 minutes

Basic Accounting Concepts & Cycle in Less than 40 minutes

Learn about the full accounting cycle with a comprehensive example! In addition, you’ll learn about the accounting equation, different types of accounts used in accounting to record various transactions, how the business transactions are recorded, and the preparation of the Income Statement and Balance Sheet. Good news! No prerequisite knowledge is required for this course and you’ll learn all this in less than 40 minutes.

When I was taking Accounting 101 and learning about the various accounting concepts, I struggled to understand the full accounting cycle and failed to tie all the bits and pieces of accounting concepts I was taught.

As such, I have designed this course, where I’ll start by teaching you about the fundamental accounting principles: the accounting equation, how debits and credits work, and how to record a business transaction in accounting. Moreover, I’ll teach you about the common accounts that are used to record business transactions. Then using a comprehensive example, I will take you through the full accounting cycle for the full accounting period and end with the preparation of the Income Statement and Balance Sheet!

I am confident after going through this course, you’ll have a strong understanding of the core accounting principles and the accounting cycle.

Learn about the accounting equation, debits & credits, and the accounting cycle with an comprehensive example!

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What you will learn

• Learn how debits and credits work
• Learn about the 5 types of accounts used in Accounting
• Learn how to make journal entries

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Level: Beginner Level

Duration: 33 mins

Instructor: Shail Patel