Fundamentals of Accounting

Boost your financial awareness and gain a marketable skill with our comprehensive Accounting Fundamentals course. You will learn the basics of double-entry bookkeeping, how to analyze and record financial transactions, and gain hands-on experience with accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities. This course covers everything from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Whether you're a sole proprietor looking to manage your business finances or seeking to understand accounting basics for career advancement or personal use, this course will provide you with a solid foundation in financial matters.

Learning Outcomes
By the end of this course, you will be able to:

1. Describe and apply the principles of double-entry bookkeeping to accurately record financial transactions.

2. Analyze and record various financial transactions using standard accounting practices.

3. Manage accounts receivable and accounts payable effectively, ensuring accurate financial records.

4. Handle payroll procedures and sales taxes with confidence and accuracy.

5. Perform common banking activities such as writing checks and reconciling bank statements.

6. Prepare financial reports, including income statements, and close out accounts at the end of a fiscal period.

7. Utilize accounting knowledge to manage business finances or advance your career in the accounting and finance field.

Outline

• Account Classifications, Account Titles, T Accounts, and the Accounting Equation

• General Ledger Accounts and Balance Sheet

• Journalizing Transactions and Posting to the General Ledger

• Journalizing and Posting Cash and Charge Purchases and Payments on Account

• Journalizing and Posting Cash and Charge Sales and Cash Received on Account

• Payroll and Various Deductions

• Banking Services and Reports

• Posting Journal Totals to the General Ledger and Schedule of Accounts Payable and Schedule of Accounts Receivable

• End-Of-Year Worksheet

• End-Of-Year Financial Reports

• Journalizing and Posting Adjusting Entries

• Journalizing and Posting Closing Entries and Preparing a Post Closing Trial Balance

External Partnership
In an effort to broaden our course offerings, Syracuse University has partnered with leaders in their respective fields to provide learning opportunities for our students. This course is brought to you through our partnership with ed2go. Once you have completed the checkout process, you should expect to be contacted by a ed2go representative within 1-3 business days with information on how to access your course material and getting started. They will be your main point of contact while you are going through the coursework. Feel free to reach out to Syracuse University if you have any questions at microcredential@syr.edu or 315.443.2588.