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Course Description

Following basic accounting principles is an essential and necessary part of any business, regardless of size. As a small business owner, it is crucial to recognize the importance of maintaining proper financial records. Accounting records help identify sources of revenue, monitor the progress of business operations, assist in identifying areas that need improvement, and aid in preparing accurate financial statements. This course will introduce you to fundamental accounting concepts and develop your ability to record and analyze business transactions and prepare the four major financial statements.

Learning Outcome

Understand the business entity concept and how it is applied

Apply the rules of double-entry accounting

Create and record business transactions

Understand how to post transactions to the general journal and general ledger

Explain the concept of T-accounts

Discuss the systematic classification of accounts in the chart of accounts

Interpret the rules of debit and credit

Explain the general purpose of financial statements

Describe the relationships between financial statements

Analyze and interpret information from each of the four financial statements

Applies Towards the Following Certificates

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Section Title
Accounting Fundamentals for Small Businesses
Section Schedule
Date and Time TBA
Course Fee(s)
fee non-credit $99.00
CEUs
0.5 CEUs
Drop Request Deadline
1 day after enrollment
Transfer Request Deadline
1 day after enrollment
Section Notes

Following basic accounting principles is an essential and necessary part of any business, regardless of size. As a small business owner, it is crucial to recognize the importance of maintaining proper financial records. Accounting records help identify sources of revenue, monitor the progress of business operations, assist in identifying areas that need improvement, and aid in preparing accurate financial statements. This course will introduce you to fundamental accounting concepts and develop your ability to record and analyze business transactions and prepare the four major financial statements.

Learning Outcome

Understand the business entity concept and how it is applied

Apply the rules of double-entry accounting

Create and record business transactions

Understand how to post transactions to the general journal and general ledger

Explain the concept of T-accounts

Discuss the systematic classification of accounts in the chart of accounts

Interpret the rules of debit and credit

Explain the general purpose of financial statements

Describe the relationships between financial statements

Analyze and interpret information from each of the four financial statements

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