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 training 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.
Completion Time
5 hours
Access Time
90 Days
Outcome
Individual Skill Course
Language
English
Training Level
Beginner
Delivery Information:
Online
Asynchronous
Self-paced
Description
Learning Outcomes
After completing this course, the learner should be able to:
- 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
Additional Information
This course includes an “Ask the Expert” feature. You can use this feature to submit questions about course content. A subject matter expert will provide guidance or point you to additional resources for the topics you’re studying. Questions are answered as quickly as possible and usually within 24 hours.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs.
Requirements
Technology Requirements
Hardware Requirements: This course can be taken on either a PC, Mac, or Chromebook.
Software Requirements: Software must be installed and fully operational before the course begins.
- PC: Windows 8 or later.
- Mac: macOS 10.6 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible. Cookies and JavaScript must be enabled
- The latest Adobe Reader/Acrobat Reader ( free download available at https://get.adobe.com/reader/ )
- Any modern Office suite: Microsoft Office, Apple iWork, OpenOffice, or LibreOffice
- Reliable internet connection. Broadband cable or highspeed DSL is recommended for optimal experience.
- E-mail account (to be able to register and to receive e-mail from the course system regarding registration, course status, etc.)
Reviews
"This was pretty insightful, educational and easy to use!"
Rob L.
"I thought this was very informative, thanks!"
Micaela M.
Enroll My Team
Are you looking to enroll your team in this training Course? You Can: