Key Accounting Concepts and Principles

  • 7 Videos | 24m 30s
  • Includes Assessment
  • Earns a Badge
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How do organizations communicate vital business and finance information? Achieving the utmost clarity in communication requires knowledge of financial management and a strong understanding of accounting basics. Accounting an internal function that involves identifying, recording, summarizing, and reporting business transactions and financial events in an organization. In this course, you’ll learn the core concepts and financial essentials of accounting, such as the accounting equation and its components, as well as the rule of debits and credits. You'll also develop your financial acumen by exploring the accounting cycle, and the effect of cash and accrual-based accounting systems.

WHAT YOU WILL LEARN

  • match basic accounting practices to their descriptions
    recognize examples of assets, liabilities, and shareholder's equity
    determine how given transactions affect the accounting equation
  • determine how common transactions affect specific accounts using the debit and credit rule
    sequence the steps of the accounting cycle
    identify key characteristics of cash and accrual accounting

IN THIS COURSE

  • Playable
    1. 
    Key Accounting Concepts and Principles
    46s
    UP NEXT
  • Playable
    2. 
    Basic Accounting Practices
    3m 51s
  • Locked
    3. 
    Assets, Liabilities, and Shareholders Equity
    3m 20s
  • Locked
    4. 
    Understanding The Accounting Equation
    3m 21s
  • Locked
    5. 
    The Rule of Debits and Credits
    3m 36s
  • Locked
    6. 
    The Accounting Cycle
    3m 29s
  • Locked
    7. 
    Cash or Accrual Accounting?
    3m 8s

EARN A DIGITAL BADGE WHEN YOU COMPLETE THIS COURSE

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