Financial Accounting-Accounting Cycle

Financial Accounting-Accounting Cycle - financial accounting-accounting cycle

Financial Accounting-Accounting Cycle – complete financial accounting cycle recording transactions, entering adjusting entries, creating financials & Closing.

The full accounting cycle including an introduction to accounting, accounting objectives, accounting methods, recording transactions using both the accounting equation and debits and credits, the adjusting process, creating financial statements, the closing process, and a comprehensive problems. 

In addition to instructional video, this course will include downloadable

•    Downloadable PDF Files

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.

Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.

Summary of what will be covered: 

Financial Transaction:

  • We will discuss what accounting is and whey is it used
  • We will learn accounting concepts including accrual accounting, the revenue recognition principle, and matching principle.
  • We well learn to record transaction using the accounting equation
  • We will record transactions using debits and credits.

Adjusting Process & Financial Statement Creation:

  • We will describe the adjusting process
  • We will discuss the categories of adjusting entries.
  • We will create an adjusting entry worksheet
  • We will enter adjusting entries
  • We will create the financial statements from the adjusted trial balance.

Closing Process:

  • Describe what the closing process is
  • Perform closing process in one step
  • Perform closing process in two step
  • Perform closing process in four steps
  • Prepare a post closing trial balance