Accounting Fundamentals II (Self-Guided)

If you want to increase your financial awareness and gain marketable skills, this online accounting course is for you.

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3 Months / 24 Course Hrs
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Accounting Fundamentals II (Self-Guided)

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Course code: T9266

In this comprehensive course, you will learn accounting basics like double-entry bookkeeping, as well as how to analyze and record financial transactions. You will get hands-on experience with handling accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities.

This accounting course for beginners covers all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Whether you are a sole proprietor looking to manage your business finances or you simply want to gain an understanding of accounting basics for career advancement or for personal use, our online accounting course will give you a solid foundation in financial matters.

What you will learn

  • Learn the basics of double-entry bookkeeping, how to analyze and record financial transactions
  • Obtain hands-on experience with handing accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities
  • Review writing checks, preparing an income statement, and closing out accounts at the end of a fiscal period

How you will benefit

  • Learn everything you need to know to better manage your finances
  • Gain a solid understanding of accounting basics to be able to manage business finances or advance your career
  • Open the door to more career opportunities in the in-demand field of accounting and finance

How the course is taught

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

Accounts Payable

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.

Accounts Receivable

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.

Uncollectible Accounts Receivable

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.

Plant Assets and Depreciation

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.

Notes Payable and Notes Receivable

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.

Accrued Income and Accrued Expenses

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.

Dividends and Starting the Year-End Worksheet

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.

Complete Year-End Worksheet with Adjustments

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

End-of-Fiscal-Period Financial Reports

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.

Adjusting and Closing Entries and Post Closing Trial Balance

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.

Preparing a Payroll

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.

Preparing Federal Tax Deposits and Year-End Tax Reports

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.

Self-Study

Prerequisites:

Completion of Accounting Fundamentals (or equivalent experience)

Instructional Material Requirements:

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

Requirements:

Hardware Requirements:

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

Software Requirements:

  • PC: Windows 8 or later.
  • Mac: macOS 12 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.

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.

This online accounting course will give you the basic accounting knowledge you need to effectively manage your personal finances or even do some bookkeeping for your company. You will understand how to keep accurate financial records and use software like QuickBooks to record transactions, produce reports, and check financial information for accuracy. You will also know how to handle expenses, receipts, payables, and accounts receivable.

Not exactly. There are five major parts to the accounting process, and they include: recording, interpreting, classifying, analyzing, and reporting financial information. Bookkeeping is the first, foundational part of the accounting process — recording financial transactions.

Making a big investment, like buying a car, can be overwhelming for most of us. Knowledge of accounting basics can help you understand how the business works and help you negotiate better deals with confidence. With this knowledge you will understand inventory, profit margin, receivables, and how to negotiate a better deal—you may even gain the respect of the salesperson by speaking a language they understand.

Yes. Understanding the financial statements of a company, something you'll learn in detail during this accounting fundamentals course, will help you understand the best companies to invest in. This can help you with your retirement savings as you choose individuals stocks and portfolios where you will invest your hard-earned money.

Absolutely! It's always good when you can explain where your money goes, how much you'll receive on your paycheck, and why it is never as high as you think—accounting knowledge can help you achieve this. You will gain a deeper understanding of what goes into your finances and learn how to track expenses and operate within a budget.

Yes. Basic accounting knowledge may help you impress your boss with understanding of financial statements and impacts on the company bottom line. It can also help you understand current events as there is no shortage of people who manipulate numbers to get what they want. Now, instead of relying on the bias of media outlets, you'll understand the impact of what was done wrong and how it affected those involved.