As it is seen in the video, Declining by Degrees: Higher Education at Risk, it is evident that the majority of students graduating from high school prefer to seek for higher education. In the United States of America, it is obvious that if an individual seeks to secure an average life it is vital for them to get a high level education.
Welcome to Mdumiseni’s video course in the basics of accounting. This course introduces the viewer to the most important principles in accounting. While this course is complicated and requires some understanding of mathematical principles, it is an introductory level course in that no prior background or experience in accounting is required.Best of luck and we welcome your feedback.
Help students grasp accounting basics, the language of business, by playing Cribbingo.
Accounting covers accounting principles and practices, the complete accounting cycle and creation of financial reports. Use of the general journal and special journals, general ledger, accounts payable, accounts receivable and proper financial reporting.This course provides instruction in the basic accounting procedures used to operate a business including sole proprietorship, partnerships, and corporations. The accounting procedures presented will also serve as a sound background for employment in office jobs and preparation for further education and training. The complete accounting cycle is covered, students learn how to us generally accepted accounting principles to prepare, analyze, verify financial transactions, reports and economic information to make decisions for organizations.The course trains students in the basics of manual and computerized accounting. Students learn accounting topics including ethics, accounting principles, computing accounting, accounting terminology, job specific accounting, and clerical duties related to accounting. Students also gain real-world applications in income tax, personal finance, and stock market.
Accounting Principles: A Business Perspective uses annual reports of real companies to illustrate many of the accounting concepts in use in business today. Gaining an understanding of accounting terminology and concepts, however, is not enough to ensure your success. You also need to be able to find information on the Internet, analyze various business situations, work effectively as a member of a team, and communicate your ideas clearly. This text was developed to help you develop these skills.
Transactions for a merchandising business related to sales and cash receipts will be discussed and practiced. New vocabulary will be reviewed. Customer service scenarios, videos, and role play will also be addressed to go along with this lesson in accounting.
Materials that make it easy for instructors to integrate data analytics into introductory accounting classes, including cases that are suitable for introductory accounting classes.
For the Principles of Accounting: Volume 2 Managerial Accounting, this video focuses on Chapter 6 (Activity Based Costing) using the Musicality, Inc. problem, exploring the calculations differences between Single Plantwide Overhead rate vs. Activity Based Costing. Covering the cost per unit / gross profit per unit only.
This assignment provides the opportunity for students to:Compare and contrast the nontax operational features of various entity forms including formalities, rights and duties of owners, liabilities, effect of bankruptcy and dissolution.Develop a list of questions to ask a business owner/client in order to perform an analysis and determine the appropriate entity form for the business.Interview a business owner to determine the owner’s specific needs concerning control, rights and duties, liabilities, taxes, formalities, effect of bankruptcy, and dissolution.Evaluate the owner’s answers to the questions concerning specific needs related to control, rights and duties, liabilities, taxes, formalities, effect of bankruptcy, and dissolution.Recommend an appropriate business form based on the business owner’s specific needs.Justify choices in making a recommendation (justification based on readings).Draft appropriate entity paperwork you would file with the Idaho Secretary of State.Communicate effectively by writing documents that are clear, concise, and compelling.
This course covers the fundamental principles of double-entry accounting, use of the general journal and general ledger, simple financial statements, the accounting cycle, control of cash, and an introduction to payroll accounting, purchases and sales.
1. Demonstrate a basic understanding of the double-entry accounting system.
2. Manually complete the entire accounting cycle for a service- based sole proprietorship on the accrual basis.
3. Prepare basic financial statements for a service-based sole proprietorship.
4. Demonstrate an understanding of control of cash processes and bank reconciliations.
5. Calculate basic payroll and payroll tax activity.
6. Prepare simple federal quarterly and annual payroll tax forms.
This course continues Practical Accounting I with more detailed explanations of the accounting cycle. Covers special journals, ledgers, business forms, including vouchers. Emphasizes accounting for partnerships.
1. Complete the entire accounting cycle for a merchandising company.
2. Demonstrate an understanding of accounting for bad debts.
3. Demonstrate an understanding of accounting for notes receivable and notes payable.
4. Compute the cost of fixed and intangible assets and natural resources.
5. Prepare basic depreciation, depletion and amortization calculations.
6. Describe the characteristics of partnerships and basic partnership accounting.
This is the third course in the Practical Accounting series. This course covers entries requiring analysis and interpretation, unearned and accrued items, depreciation of assets, manufacturing accounting and other managerial accounting procedures.
1. Describe the characteristics of a corporation.
2. Demonstrate an understanding of the accounting processes specific to stock, dividends, treasury stock and retained earnings.
3. Prepare the accounting for basic bond transactions.
4. Demonstrate an understanding the cash flows statement preparation process for both the indirect and the direct method.
5. Interpret and analyze financial statements.
6. Explain how to handle transactions in a voucher system.
This course is designed to teach, reinforce and supplement payroll skills in both manual and computerized formats.
1. Compute the income tax withholding from employee wages.
2. Calculate employee's withholding allowances for IRS Form W-4.
3. Determine employer's quarterly estimated payments.
4. Describe how the Federal Insurance Contributions Act (FICA) is applied by employers.
5. Describe the federal deposit system and how the Electronic Federal Tax Payment System is used by employers.
6. Describe the difference between employees and independent contractors.
Presents financial accounting concepts and the use of accounting information in decision making. Includes an overview of the accounting cycle.
1. Use the accounting cycle to develop financial statements from business transactions.
2. Analyze basic business economic events to determine their effect on accounts and financial statements.
3. Interpret and analyze financial statements to aid in decision making.
4. Demonstrate a basic understanding of the principles of internal control and apply them to relatively straight-forward situations to identify strengths and weaknesses.
5. Interpret and analyze accrual and cash flow information presented in accounts.
6. Analyze issues relating to inventory, receivables, long-lived assets, liabilities and stockholderâ€™s equity and recommend appropriate accounting treatment.
7. Describe basic generally-accepted accounting principles.
This course demonstrates the use of accounting information to meet organization goals. Methods of extracting accounting information for decision making, management of resources, planning, and product and service costing are covered.
1. Explain the interrelationship of the accounting systems to all areas of business and business decision making.
2. Understand cost behavior and predict break-even points.
3. Recognize the components and processes related to various cost accounting systems.
4. Analyze the performance of the organization and organizational sub-units.
5. Use the budgeting process to prepare budgets and pro forma financial statements.
6. Utilize the time-value-of-money concept to analyze capital investment projects.
This course introduces financial accounting techniques, measuring and recording transactions, preparing financial statements, managerial decision making, and planning and control devices, such as budgeting, cost accounting, variance analysis, and break-even analysis. Includes assessment of financial information from managers, lenders, and investors perspective to understand and evaluate business operations. Emphasizes ethical decision-making in the work environment.
1. Gain understanding of the accounting cycle and evaluate business transactions using the accounting equation.
2. Demonstrate the communication of accounting information by the use of commercially available spreadsheet software.
3. Describe the four basic financial statements: Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Retained Earnings.
4. Describe the need for internal control procedures in an organization, and demonstrate an understanding of ethics in accounting.
5. Use Cost-Profit-Volume analysis to calculate break-even points.
6. Describe the purpose of budgeting in an organization.
7. Calculate cost and efficiency variances using standard cost information.
This course provides hands-on computer experience in accounting applications, including general ledger, accounts receivable, accounts payable, payroll, and financial statements.
1. Create a new company within the QuickBooks Environment
2. Enter a new account.
3. Demonstrate the ability to properly enter transactions into the A/R, A/P, and other functional areas of the program.
4. Properly run reconciliation reports or bank accounts.
5. Customize and print out financial statements.
This course introduces the viewer to the most important principles in accounting. This course is also designed for corporate or legal professionals to be able to better work with corporate accounting departments.
This course starts with explanations of the basic financial accounting documents: the balance sheet, the income statement and other financial statements. We’ll go over basic bookkeeping rules and where various information is entered and kept.
Modules two through four cover the accounting process. We’ll discuss the concepts of recognition and matching, accrual and deferral of revenue and what constitutes current assets. We’ll also discuss inventory and the “LIFO,” “FIFO” and just-in-time methods to track inventory. We’ll also look at the concept of depreciation, mainly relevant for income and capital gains taxation, and the various depreciation methods and rules. We’ll also look at how to account for intangible assets, securities, debt instruments, leases and capital accounts.
In module five, we’ll turn to the principles of accounting. We’ll discuss the “Generally Accepted Accounting Principles” and how they are formed and work. We’ll also discuss auditing and the principles that govern that pursuit. We’ll also look at responsibility for financial statements, gray areas and some sample cases where questions of liability for false or misleading financial statements went to the courts.
In our last module, we’ll focus on the quantitative tools that are used in valuations. We’ll look at many different types of ratio analyses and their rules and uses. We’ll look at myriads of ways to measure profitability and performance. Then, we’ll discuss the time value of money and its impact on accounting. Finally, we’ll wind up the course by discussing different ways to value a company.
This lesson was designed as part of the ESUCC BlendEd Best Practices Project by Mellissa Donohoe. In this lesson, students will learn how to account for uncollectible accounts receivable.