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Financial Accounting Basics

Bookkeeping Tutorials

What’s Included ?
This basic financial accounting course is composed of 22 classroom video accounting lectures. My cartoon representative Professor Bean Counter introduces each lecture. A written transcript or summary of each of the video lectures is also included as a review.

What’s Covered ?
The course is organized into 3 major groups or categories as follow:
Introduction to Bookkeeping
Brief History Of Accounting
What Is Accounting
Purpose Of Accounting
Types Of Accounting

Basic Accounting and Bookkeeping Concepts
Accounting Methods
Accounting Rules
Accounting Equation
Accounting Terms
Debits and Credits
Accounting Cycle
Analyze Transactions
Journalize Transactions
Posting Transactions
Unadjusted Trial Balance
Adjusting Entries
Adjusted Trial Balance
Financial Statements
 Single Step Income Statement
 Multi Step Income Statement
 Balance Sheet
 Owner's Equity Statement
Nets Sales and Gross Profit
Closing Entries
After Closing Trial Balance
Learning Objectives
After completing this course, you should know or be able to perform the following:

Understand what accounting and bookkeeping is, why it’s important, and the key terms needed to discuss and properly use financial information.
Understand what makes bookkeeping “work”:
  • Accounts/Chart Of Accounts
  • Accounting Equation(s)
  • Double Entry Accounting System
  • Debits and Credits
  • Rules
  • Formal Records and Documents
  • Accounting Cycle

How to analyze and record transactions using the formal financial records such as Journals and the General Ledger.

What Financial Statements are and how they are prepared and used.

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