Accounting Fundamentals II

Explore the world of corporate accounting and increase your financial know-how while gaining in-demand skills. This course will provide you with a solid understanding of recording and analyzing plant assets, depreciation, interest, dividends, revenue and other important corporate money matters.

6 Weeks / 24 Course Hrs

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Offered in partnership with your preferred school

Florida International University

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Learning method

Self-Guided

$129

No instructor. Study on your own schedule

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Instructor-Moderated

$129

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Starting September 11 | October 16

Details + Objectives

Course code: af2

While it is true that accounting professionals are scarce, those with corporate accounting experience are even scarcer. This course will provide you with a solid understanding of corporate accounting practices.

In Accounting Fundamentals II, you will explore such topics as special journals, uncollectible accounts receivable, plant assets, depreciation, notes and interest, accrued revenue and expenses, dividends, retained earnings, and various financial reports for corporations.

If you're interested in increasing your financial awareness and accountability while also gaining a marketable skill, this is the course for you.

What you will learn

Learn about accounts payable and receivable
Understand how to represent uncollectible accounts in reports
Learn about plant assets and timely depreciation of these assets
Learn how to deal with accrued income and accrued expenses
Understand stock dividends and retained earnings
Learn how to prepare year-end financial documents including tax forms

How you will benefit

Become more indispensable to any organization as you develop higher level accounting skills
Learn everything you need to know to accurately keep the books for any type of business
Become more aware of the accuracy of your own personal pay stubs and tax documents
Open the door to more career opportunities in accounting

How the course is taught

Instructor-Moderated or Self-Guided online course
6 Weeks or 3 Months access
24 course hours

Outline

In this lesson, you will learn all about accounts payable. You will be journalizing and posting your company's purchases and preparing a Schedule of Accounts Payable. This lesson will give you the tools you need to successfully track those accounts.

In this lesson you will take a close look at accounts receivable. After completing this lesson, you will know how to enter charge sales into your Sales Journal and then post them to your General Ledger. You will have also learned how to journalize payments on account received from your charge customers.

In this lesson you will learn about uncollectible accounts receivable. While many believe customers will always pay what they owe, that is not always the case. You will learn how to account for long overdue receivables that probably won't ever be paid.

In this lesson, you will learn about plant assets and depreciation. Just like your car, business assets depreciate over time, so you will need to know how to account for that expense in your records. You will also need to record these assets and calculate their depreciation in a timely manner.

This lesson is all about notes payable and notes receivable. You will learn all you need to know about accounting for these situations as you learn how to record the issuance and payment of these notes payables and notes receivables.

In this lesson, you will learn how to deal with accrued income and accrued expenses. Accrued income is money that the company earns in one fiscal period but doesn't receive until after another fiscal period begins.

In this lesson, you will be dealing with dividends, which is money paid to the company's stockholders on their investment. You will learn how the business accounts for the dividends it pays to its stockholders. You will also look at retained earnings, or the amount of profit the corporation retains for future use.

In this lesson, you will determine whether your business has a net income or a net loss by completing the worksheet started in the previous lesson. Because many General Ledger accounts change throughout the fiscal period, you will also need to bring these accounts up to date.

It's time to begin wrapping up your books for the end of the fiscal period. In this lesson, you will learn how to compile most of the various financial reports a corporation needs to complete at the end of the fiscal period.

In this lesson, you will get the books all caught up and ready for the next fiscal period. You will go back and journalize those adjusting entries you entered into your worksheet, then you will enter closing entries into your journal.

This lesson covers every employee's favorite subject: Payroll. You will learn about various mandatory and voluntary deductions from employees' pay, as well as how to journalize and post an entire payroll. As an added bonus, after this lesson, you will be able to check the accuracy of your own paycheck.

The final lesson focuses on preparing a variety of end-of-year tax reports. Here's your chance to go step-by-step through a multitude of IRS forms with instructions that are much easier to understand. You will fill out the federal Form 941, then learn how to make federal income tax deposits.

Instructors & Support

Nancy Koenig

Nancy Koenig is an experienced industry professional with over 40 years in the workforce, including decades in finance. Nancy has worked in various finance roles in banking, insurance, and a hospital billing office. For the last 27 years of her career, she was an administrative assistant at a technical school, which involved running and overseeing the entire budget, amongst other duties. Nancy has also held part-time jobs as a bookkeeper for an auto parts store and a cable company, where she used QuickBooks computerized software. Over the past several years, she has also co-taught the Accounting Fundamentals and Accounting Fundamentals II courses with Charlene Messier.

Instructor Interaction: The instructor looks forward to interacting with learners in the online moderated discussion area to share their expertise and answer any questions you may have on the course content.

Requirements

Prerequisites:

Completion of Accounting Fundamentals (or equivalent experience)

Requirements:

Hardware Requirements:

This course can be taken on either a PC, Mac, or Chromebook.

Software Requirements:

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.
Adobe Acrobat Reader.
Software must be installed and fully operational before the course begins.

Other:

Email capabilities and access to a personal email account.
A calculator and a printer.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment and will be available online.

FAQ

Instructor-Moderated: A new session of each course begins each month. Please refer to the session start dates for scheduling.

Self-Guided: Your course begins immediately after you enroll.

Instructor-Moderated: Once a course session starts, two lessons will be released each week for the 6 week duration of your course. You will have access to all previously released lessons until the course ends. You will interact with the instructor through the online discussion area. There are no live sessions or online meetings with the instructor.

Self-Guided: You have 3 months of access to the course. After enrolling, you can learn and complete the course at your own pace, within the allotted access period. You will have the opportunity to interact with other students in the online discussion area.

Instructor-Moderated: The interactive discussion area for each lesson automatically closes two weeks after each lesson is released, so you're encouraged to complete each lesson within two weeks of its release. However, you will have access to all lessons from the time they are released until the course ends.

Self-Guided: There is no time limit to complete each lesson, other than completing all lessons within the allotted access period. Discussion areas for each lesson are open for the entire duration of the course.

Instructor-Moderated: Students enrolled in a six-week online class benefit from a one-time, 10-day extension for each course. No further extensions can be provided beyond these 10 days.

Self-Guided: Because this course is self-guided, no extensions will be granted after the start of your enrollment.

Reviews

Accounting Fundamentals I & II were very informative classes for me. The instructor was great as well. She helped me understand accounting concepts that a 1000-paged textbook could not make clear for me. I would definitely recommend this class to anyone who is beginning the study of accounting.

I had just finished Accounting Fundamentals I when I started Accounting Fundamentals II, and I thought this class was the perfect next step. It built on the first class but didn't jump too far ahead, so I always felt comfortable with the new lessons even though it was all still new to me. I think the instructor has a very good lesson plan here and I would certainly take any other courses she offers.

I just want to thank y'all for six great weeks. I am a new American just here a few months from Canada and have learned so much about the USA accounting system. This course was great, as was part one. You are a wonderful instructor Charlene and I must say I am enjoying learning online. I hope I see a few classmates in other online courses.

I took a college Accounting course in 1983, and I took it again in 1999. I got nothing out of either of those courses. But now that I have taken your two courses, I can honestly say a light bulb has just come on......I understand the concept now. Thank you for making this seem easy. My husband owns a small business and I have tried to learn how to do the books, but have struggled. I have taken Quickbooks I and II. I should have enrolled in your courses first. I have downloaded every course I have enrolled in, now I can go back and refresh my knowledge.

Thank you for your help with accounting. I have taken both of your courses and I enjoyed then both very much. I will definitely use what I have learned from you not only for work but througout my lifetime. Thank you.

This course and part one has taught me more info then I think I learned in a two semester course at college. Charlene Messier is a great teacher. I will be taking other online courses because the educational experience was enjoyable.

I wish there were more levels of this course, but I am planning on starting my bachelor's degree in accounting at Columbus State University this summer. Thank you, Ms. Messier, for building upon the knowledge of Accounting Fundamentals. I felt more experienced with this course because it picks up where Accouting Fundamentals left off. I am going to use Accounting Fundamentals and Accounting Fundamentals II as a stepping to improve my career and my education. Before I took these courses I did not have any experience with accoutning. Two courses later and with my job, I am much more experienced.

Just completed the course and I must say that it was very informative and once again excellently done. As a business owner and the CFO of said business, taking Accounting Fundamentals and Accounting Fundamentals II has helped me run my business more efficently. Thanks to Ms. Messier's well put together online instructional methods and course materials I now have better understanding of the financial aspects of the business and I do not have to rely on our accountants as much.

I just took Accounting Fundamentals and found the lessons to be very easy to follow. It can be difficult teaching complicated topics that require a lot of forms, such as accounting, let alone in this type of format, but you somehow made it very easy! I have taken classes before that were made much more complicated than they needed to be, as a student this is very frustrating. I appreciate you taking the time to teach these classes and making the concepts easy to understand. You are a wonderful teacher. Looking forward to digging deeper into accounting.

I took Ms. Messier's first course and learned a lot as well as thoroughly enjoyed the format. My success on this pretest is directly related to her instruction, as my pretest for the first course had a very different outcome.

Accounting Fundamentals II

Florida International University