4.58 out of 5
637 reviews on Udemy

Accounting 1 Simplified for You

Your no-nonsense guide to understanding accounting principles in easy to follow explanations and step-by-step examples.
Majo Jacinto
4,360 students enrolled
Design an accounting information system for a small business
Identify, classify and journalize the transactions of small business start up.
Prepare adjusting entries, generate a trial balance and maintain the general ledger.
Prepare financial statements - Income Statement, of Owner's Equity, Balance Sheet & Statement of Cash Flows
Understand and apply the value of financial information in managing a business.
Discover career opportunities in accounting
Appreciate and apply the value of accounting in your career

Accounting 1 Simplified for You – is a unique, no-nonsense and meaningful way of understanding accounting basics by illustrating how business transactions are recorded in simple terms and step-by-step easy to follow exercises. Discover how easy it is to prepare financial statements and design your own accounting information system.

Empower yourself with the advantage of knowing and understanding your organization’s economic conditions through financial statements. Possess the ability to convert data into information that is meaningful to you. Convert your fear in accounting to confidence based on understanding the “jargon” in your own terms. Sharpen your analytical skills and empower yourself with understanding accounting for your business.

In this class, you will have a series of thoughtfully prepared video lectures, using real-life business examples and practice exercises after each section to reinforce your learning. Dr. Jacinto promotes and encourages lively discussions and feedback sessions. All your questions directly related to the topic will be answered within 24 hours. This course is ideal for college business and accounting students, bookkeepers, business owners, managers and anyone who wants to better understand accounting in business in a way that makes sense to you. This is an excellent study guide and supplement for students in accounting and those who are looking for a quick refresher. This course is an excellent complement to Accounting 2 Simplified You.

Dr. Majo Jacinto's Student Testimonials

Successful graduates. Experience with Dr. Majo Jacinto

Understanding Business, Making Decisions and Accounting Basics

How does business work? What do I need to know?

Purpose of business. Service, Merchandising & Manufacturing. Sole proprietorship, Partnership & Corporation.

What is Accounting? Role of accounting and ethics in business. GAAP

Accounting information system for business management, borrowing, regulatory and compliance. Results communicated in financial statements. Internal and external users of financial statements. Managerial accounting & Financial accounting.

Test your Knowledge

A multiple choice quiz for the section we just covered.

Discover how it's done in a real business setting.

Setting the stage and sample company text

Setting up a small business. Sample company transactions. .

Accounting Equation and Recording business transactions. New company setup

Using the accounting equation to record business transactions. Assets = Liabilities + Owner's Equity. Capital + Revenue - Expenses. Starting a new business.

Financial Statements and the reporting process.

Income Statement, Statement of Owner's Equity, Balance Sheet, Statement of Cash Flows. Profit and Loss Statement. Operating, Investing and Financing activities. Sequence of financial statement preparation.

Test your Knowledge

Test your understanding of the recording process for a small business.

Let's design the accounting system for your business.

Chart of Accounts

List of accounts used to record business transactions. Assets, Liabilities, Capital, Revenues and Expenses. Account numbers.

Journalizing transactions. Rules of Debits and Credits

The recording process. Journal entries. When to debit or credit?

General Ledger - keeping track of account balances

Posting journal entries to the general ledger. Importance of the ending balances.

Preparing a trial balance report for what purpose?

Unadjusted trial balance report

Test your Knowledge

Chart of accounts, journal entries, general ledger and trial balance

Cash versus Accrual. Adjusting Entries & Financial Statements

Cash versus Accrual. Adjusting Entries

Basis of recording transactions. Prepaid Expenses, Deferred Revenue, Accrued Revenues and Accrued Expenses.

CONCLUSION - Financial Reports preparation, sequence and analysis.

Income Statement, Statement of Owner's Equity, Balance Sheet and Statement of Cash Flows. Sequence of preparing financial reports.

Test your Knowledge

Cash basis and accrual basis accounting. Adjusting entries.

Career Opportunities in Accounting

Explore opportunities in the accounting field
You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
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2 hours on-demand video
Full lifetime access
Access on mobile and TV
Certificate of Completion