Financial Accounting : Learn the Basics of Debits & Credits

Financial Accounting Skills of applying of Debits & Credits logics, & Recording Transactions & posting to General Ledger

4.50 (7 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
instructor
Financial Accounting : Learn the Basics of Debits & Credits
24
students
3.5 hours
content
Jun 2023
last update
$44.99
regular price

What you will learn

Learn Accounting Concepts, Types of Accounts - Asset, Liability, Revenue & Income, and Expense & Loss

Rules of Debits & Credits and how to apply those to different types of accounts, General Journal, General Ledger & GL Accounts, Subsidiary Books, Trail Balance

Accounting Students can learn the basic foundation of course which is a supplement for them, become more confident and expect increase class participation

Working Professionals, whether or not working in accounting field, can learn the accounting from scratch -> expect more work productivity & appreciation at work

Business owners who want to learn accounting and maintain their books of accounting

Description

Welcome and thanks for visiting this course!

This course is designed to provide individuals with a comprehensive understanding of the fundamental principles and concepts of accounting, aimed at building a solid foundation in the field.


Do you struggle to create balance sheet or income statement? Do you struggle to understand the different types of GL Accounts and what account to debit or credit in an accounting transaction?


Well, if the answer is yes, then you are at the right place. Starting from the building solid foundation of accounting, which is what this course is about, we will go to the advance accounting throughout my different level of courses.

Throughout this course, you will embark on a journey that covers the essential elements of accounting, enabling you to develop a strong understanding of financial transactions with a detailed explanation of debits and credits, different types of GL Accounts and recognizing them in the financial transactions, and the overall recording and reporting processes. You will explore topics such as the accounting equation, double-entry bookkeeping, the classification and analysis of assets, liabilities, equity, expense and revenue as well as the exceptional introduction of revenue recognition and expense allocation (such as depreciation).

Through a combination of theoretical knowledge and practical examples, you will gain hands-on experience in applying accounting principles to real-world scenarios. You will learn main Accounting Concepts, Principle of Double Entry and applying this to different type of GL Accounts, the application of Debit and Credit on different types of GL Accounts, General Journal, Posting the Journal Entries (Accounting Transaction) to GL Accounts, Balancing of GL Accounts, Subsidiary Books and Trial Balance.

By the end of this course, you will have a strong foundation in accounting, allowing you to confidently navigate the world of financial accounting. Whether you plan to pursue a career in accounting or simply want to improve your accounting literacy, this course will equip you with the necessary skills and knowledge to succeed. Join me and embark on a journey towards accounting proficiency and a solid understanding of accounting basics.


Anyone can learn Accounting!

You can learn accounting if you get the good guidance and the right reading & practice material. The most efficient way to learn anything is to follow:


1. The right reading material

2. The proper order of learning. There is a lot of information available online, but to learn something new, you always have to start step by step. So, its very important to not overload yourself with too much information, and follow the correct way of learning.

3. The practice exercises. You need to practice as many exercises as you can till you believe that you have learnt and confident enough about the topic learnt


You yourself also have to be curious to know the reason behind the accounting process. Why do we debit, why do credit, and what are the reasons behind it? There are many online reading material available but nobody explains the reason that why do we debit or credit. Why are liabilities considered to be liability? Every question is answered in this course.


To learn fast, you also need to do practical exercises, which you will do in this course!

And I have explained all the practical exercises in detail.


What you’ll learn

1. Important Accounting Concepts

2. What is a Business Transaction? And what type of business transaction is recorded in the books of accounting?

3. What is General Ledger Account? And what are different types of GL Accounts? How to balance General Ledger Account.

4. Principle of Double Entry and the application of Debits and Credits

5. Create Accounting Transactions by yourself and post to different General Ledger Accounts.

6. Trial Balance. And why is it important?


Are there any course requirements or prerequisites?

There are no prerequisites to this course.


Who this course is for:

1. Accounting Students for whom this course will act as a supplement to their studies, who want to clear their accounting basics, and you can expect more class participation

2. Working Professionals who wants to learn accounting or want to make their accounting basics strong

3. Business Owners who want to learn the accounting basics and how it can help in applying accounting logics in real time. And help them to maintain their accounting books


Content

Introduction to Accounting

Introduction to Accounting
An Example of how this Course Explains Accounting Topics
Overview of Accounting
Purpose of Accounting
Audience - Internal and External Users

Overview of Different Accounting Concepts

Accounting Concepts Overview
The Entity Concept
The Money Measurement Concept
The Going Concern Concept
The Periodicity Concept
The Cost Concept
The Realization Concept
The Accrual Concept
The Matching Concept

Accounting Process

Overview of Business Transaction
Accounts and Types of Accounts
Principle of Double Entry
The Concept and Application of Debit and Credit
Analysis of Business Transactions
General Journal

Create and Post to General Ledger Accounts

General Ledger Account
Create Journal Entries and Post to GL Accounts Part I
Create Journal Entries and Post to Accounts Part II
Balancing of the General Ledger Accounts

Subsidiary Books and Trial Balance

Subsidiary Ledgers - Special Journals
Trial Balance

Reviews

Neha
October 10, 2023
I recently completed the "Financial Accounting: Learn the Basics of Debits & Credits" course on Udemy and was thoroughly impressed. The instructor masterfully broke down complex accounting principles into easily digestible segments, making the content approachable even for someone without a background in the subject. The incorporation of examples and interactive material kept the course engaging from start to finish. I particularly appreciated the module on "The Concepts and Applications of Debit and Credit." It cleared up many uncertainties I had. The supplementary resources provided proved to be invaluable for deepening my understanding and will be resources I turn to in the future. While I initially wished for more practical exercises, the depth and clarity of the content more than made up for it. This course offers a comprehensive introduction to financial accounting, and I'd wholeheartedly recommend it to anyone looking to get started in the field. It has given me a solid foundation, and I feel confident in my grasp of the basics of debits and credits.
Denish
June 27, 2023
"I recently completed the Accounting course with Professor Aman and I highly recommend it. Teaching style was engaging and effective, making complex accounting concepts easy to understand. They provided clear explanations and practical examples that helped me grasp the material more easily. The material was presented in a way that was easy to follow, even for someone new to accounting."
Ankit
June 20, 2023
The content and structure is well-organized, and clarification on complex topics with interactive whiteboard really helps understand the concept. I like how it follow every day examples and how to use those principles in day to day activities.
Mrig
June 4, 2023
Finally, I got to see the course which I really needed. Difficult accounting topics explained in very simple terms is what anyone will get in this course. Given I have little accounting background and my job in Finance require to have some accounting basic knowledge, this course helped me to understand the topics. I am so glad I enrolled for this course given its a new course and with less reviews. Worth the investment! Thank you to the professor who understood the pain of people who seeks to learn accounting with less accounting knowledge.

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4467260
udemy ID
12/30/2021
course created date
4/21/2023
course indexed date
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