***LOGIN REQUIRED*** 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.
Basic accounting principles using a computerized accounting package.
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.
1. Accounting and its use in business decisions
2. Recording business transactions
3. Adjustments for financial reporting
4. Completing the accounting cycle
5. Accounting theory
6. Merchandising transactions
7. Measuring and reporting inventories
8. Control of cash
9. Receivables and payables
10. Property, plant, and equipment
11. Plant asset disposals, natural resources, and intangible assets
12. Stockholders' equity: Classes of capital stock
13. Corporations: Paid-in capital, retained earnings, dividends, and treasury stock
14. Stock investments
15. Long-term financing: Bonds
16. Analysis using the statement of cash flows
17. Analysis and interpretation of financial statements
18. Managerial accounting concepts/job costing
19. Process: Cost systems
20. Using accounting for quality and cost management
21. Cost-volume-profit analysis
22. Short-term decision making: Differential analysis
23. Budgeting for planning and control
24. Control through standard costs
25. Responsibility accounting: Segmental analysis
26. Capital budgeting: Long-range planning
Reviews available here: https://open.umn.edu/opentextbooks/textbooks/accounting-principles-a-business-perspective
Agenda:* Tour of Quickbooks Online interface* Overview of the Chart of Accounts for both Omni and Sudo Mesh* We'll reconcile some bank transactions together* Creating Invoices, Receipts, and related Customer and Vendor income and expense accounts* Creating Budgets* How to generate financial reportsFor those who want to dig deeper into accounting principles and filing nonprofit taxes, I'll put together an Advanced QBO workshop toward the end of the year.