Accounting & Bookkeeping (US) Course

Make sure you’re on top of your accounts by taking our Accounting & Bookkeeping course for business minded individuals.

Everyone who works in a business has accounts. All Business and Accounting majors have accounts exams. We all know that they are hugely important, however few can claim to understand accounts properly.

 

Skillsology guides you through the complex maze of the accounting world by teaching in language that is easy to understand. Topics covered include payroll, shareholders' equity, balancing the books and preparing financial statements

Whether you are interested in becoming an Accountant or Bookkeeper or  simply want to understand more about the numbers at your business, our online course will teach you how to get on top of accounts painlessly.

 

Highlights

  • Use the diagnostic tool before starting enabling us to tailor the course for you
  • The Course features engagingly written text-based articles, a series of practical exercises, Videos tutorials, and a multiple-choice test to benchmark and measure your progress
  • Contains 20 hours of learning materials but can be completed in as little as 12 hours of dedicated study
  • Provides 24/7 access to all learning materials from the date you register
Video Taken From Unit 5.3 Preparing Financial Statements

Preview

Course Content

Syllabus

Video

User Dashboard

The Test

Course Certificate

Syllabus

Section 1: Foundation

Unit 1.1 - What Accounting Can Do for Your Business

Unit 1.2 - Key Decisions

Unit 1.3 - The Language of Accounting

Section 2: Organisation

Unit 2.1 - Organizing Your Accounts

Unit 2.2 - The Accounting Cycle

Unit 2.3 - Computerized Accounting

Unit 2.4 - Computerized Accounting Behind the Scenes

Section 3: Inventory & Sales

Unit 3.1 - Managing Inventory

Unit 3.2 - Tracking Sales

Unit 3.3 - Reconciling Cash

Section 4: Expenses

Unit 4.1 - Tracking Expenses

Unit 4.2 - Payroll

Unit 4.3 - Buying and Selling Long-Term Assets

Unit 4.4 - Liabilities

Unit 4.5 - Shareholders' Equity

Section 5: Bookkeeping

Unit 5.1 - Testing Your Books Balance

Unit 5.2 - Adjusting Entries

Unit 5.3 - Preparing Financial Statements

Unit 5.4 - Analyzing Profitability

Unit 5.5 - Testing Liquidity

Unit 5.6 - The Importance of Internal Controls

Section 6: Taxes & Reporting

Unit 6.1 - Business Taxes

Unit 6.2 - Year End Government Reporting

Unit 6.3 - Closing the Books

Unit 6.4 - Restarting the Accounting Cycle

Unit 6.5 - How to Value a Company

Section 1: Foundation

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Unit 1.1 - What Accounting Can Do for Your Business

Importance of accounting ● Different types of accounting ● Financial accounting ● How the course works and what it covers

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Unit 1.2 - Key Decisions

Choose the right type of business organisation ● Cash and accrual accounting

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Unit 1.3 - Language Of Accounting

What are debits and credits● Key terms explained ● Statement of Position ● Statement of Activities ● Key terms explained

Section 2: Organisation

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Unit 2.1 - Chart of Accounts

Deciding on an appropriate level of detail ● Using account numbers ● Grouping accounts under headings

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Unit 2.2 - The Accounting Cycle

Understanding the accounting jigsaw ● From transactions to financial statements – how all the steps in the bookkeeping and accounting process fit together

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Unit 2.3 - Computerized Accounting

The benefits of using a computerized system ● Are there any drawbacks? ● On your computer or online? ● The key players includingQuickBooks, Sage, Bookkeeper and Xero

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Unit 2.4 - Computerized Accounting Behind the Scenes

Understanding what goes on in your computerized system and how your transactions inputs are turned into meaningful accounts

Section 3: Inventory & Sales

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Unit 3.1 - Managing Inventory

Making sure you have what your customers want to buy when they want to buy it ● Differences between manufacturers and retailers ● The different methods for valuing stock ● FIFO, LIFO, Weighted average ● Periodic and perpetual ● Lower of cost and market value

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Unit 3.2 - Tracking Sales

Cash and credit sales ● Discounts and how to account for them – gross or net ● Accounting for doubtful debts using the percentage sales and aging methods ● The accounting entries

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Unit 3.3 - Reconciling Cash 

Cash in hand and bank accounts ● Safeguarding cash – the key controls to keep cash safe ● Bank reconciliations – the different methods and how to use them

Section 4: Expenses

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Unit 4.1 - Tracking Expenses

Business or private? How to identify expenses properly ● Keeping a tight grip on your costs ● Managing petty cash for smaller expense amounts

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Unit 4.2 - Payroll

Differences between employees and independent contractors ● How to record payroll transactions

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Unit 4.3 - Buying And Selling Long-Term Assets

How to deal with long term assets ● Different types of long-term assets ● Accounting entries of acquisitions and disposals ● Depreciation and amortization ● Intangible assets

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Unit 4.4 - Liabilities

Liabilities explained ● Types of current liability ● Calculating current liabilities ● Types of noncurrent liability ● Calculating noncurrent liabilities

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Unit 4.5 - Shareholders' Equity

Types of equity ● Recording equity transactions ● Dividends: key dates and recording dividends ● Equity disclosure in the Balance Sheet

Section 5: Bookkeeping

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Unit 5.1 - Testing Your Books Balance

Why bother with a trial balance? ● Finding common bookkeeping and accounting errors and sorting them out

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Unit 5.2 - Adjusting Entries

Moving from bookkeeping to accounting ● Accruals and prepayments ● Depreciation methods – straight line, reducing balance, sum of digits, unit of production

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Unit 5.3 - Preparing Financial Statements

The importance of financial statements ● Format of financial statements ● Statement of Activity ● Statement of Shareholders' Equity ● Statement of Position ● Statement of Cash Flows

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Unit 5.4 - Analyzing Profitability

Using accounts figures to make business decisions ● The key accounts measures that tell you how well a business is doing ● Return and margin ratios

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Unit 5.5 - Liquidity and Solvency Ratios

CLiquidity and solvency ● Current Ratio ● Quick Ratio ● Debt-to-Equity Ratio

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Unit 5.6 - The Importance of Internal Controls

How the right controls can protect your business ● Safeguarding your cash ● Protecting against fraud and theft ● Employee bonding

Section 6: Taxes & Reporting

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Unit 6.1 - Business Taxes

Understanding and calculating the most important business taxes ● Employee Taxes ● Sales Taxes ● Corporate Taxes

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Unit 6.2 - Year End Government Reporting

The reports your accounting system needs to produce to send to government ● Dates and deadlines● Employee and payroll reports ● Tax reports

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Unit 6.3 - Closing the Books

What you need to do at the end of each year ● The accounting entries that are necessary to get you ready for the next year

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Unit 6.4 - Restarting the Accounting Cycle

Review of the accounting cycle and how everything starts again

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Unit 6.5 - How to Value a Company

Reasons to value a company ● Different valuation methods ● Assets, Market, Income

Pricing

Pricing is for 12 months access.

*The AUD price shown above is an estimate. Actual charges are based on the current exchange rate from GBP

Requirements

Software:

  • Required: none
  • Suggested: Microsoft Excel, Numbers or equivalent. Google Docs or Microsoft Web Apps could also be used.

Completion Time: 12 hours (average)

About the Author

Our author Lita, has an outstanding reputation for explaining essential accounts concepts clearly to business audiences. Lita has written this course with a practical focus explicitly in mind. We have overlaid the writings with some further practical examples and downloadable templates by our own in-house writing team. The course is also updated with responses to customer requests and updates in the world of accounts - you get all this for free.

 

Lita Epstein, MBA