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    Accounting Professional

    If you want to kickstart your career in accounting but have no prior experience or qualifications in the field, then this accounting professional course is the right choice for you. Through this assessment-rich course, you’ll be able to understand the foundations and practical applications of professional accounting and qualify for an entry-level job in accounting.

    Program Name

    Accounting Professional

    Program Code

    BUS-ACP1

    Website Short Description

    If you want to kickstart your career in accounting but have no prior experience or qualifications in the field, then this accounting professional course is the right choice for you. Through this assessment-rich course, you’ll be able to understand the foundations and practical applications of professional accounting and qualify for an entry-level job in accounting.

    During this comprehensive and detail-oriented course, you’ll learn to:
    • Define terms related to business accounting
    • Apply accounting concepts and principles
    • Prepare corporate financial statements
    • Analyze financial statements using various ratios and tools
    • Evaluate internal controls
    • Account for partnership transactions
    • Differentiate international financial reporting standards from generally accepted accounting principles
    • Describe long-term liabilities
    • Apply concepts related to managerial accounting
    • Use financial information to guide important decisions
    • Apply concepts related to managerial accounting
    • Prepare and analyze various types of budgets

    After completing this course, you’ll be able ready for a professional entry-level accounting position in the highly competitive market. You’ll be equipped with all the skills recruiters look for in an accounting candidate. You would be able to keep accounts for small businesses or assist the accounting teams of larger enterprises.

    Duration

    6 months

    Hours

    270

    Language

    English

    Prerequisites

    There are no specific prerequisites for this program. Students should have basic keyboarding and computer skills, and be comfortable navigating the internet.

    Outline

    Principles of Accounting Level 1 Module 1
    Role of Accounting in Society
    • Difference Between Financial and Managerial Accounting
    • Users of Accounting Information
    • Typical Accounting Information
    • Identifying, Recording, and Reporting
    • Importance to Business Stakeholders
    Principles of Accounting Level 1 Module 2
    Introduction to Financial Statements
    • Income Statement
    • Owner’s Equity
    • Balance Sheet
    • Cash Flows
    • Current and Noncurrent Assets
    • Current and Noncurrent Liabilities
    • Revenues
    • Expenses
    Principles of Accounting Level 1 Module 3
    Analyzing and Recording Transactions
    • Financial Statements
    • Expanded Accounting Equation
    • Analyzing Transactions
    • Recording Transactions
    • T-Accounts
    • Trial Balance
    Principles of Accounting Level 1 Module 4
    The Adjustment Process
    • Concepts Affecting Adjusting Entries
    • The Need for Adjusting Entries
    • Types of Adjusting Entries
    • Ledger Balances
    • Accruals
    • Adjusted Trial Balance
    Principles of Accounting Level 1 Module 5
    Completing the Accounting Cycle
    • Closing Entries
    • Journaling and Posting Closing Entries
    • Post-Closing Trial Balance
    • Cash Basis vs. Accrual Basis Accounting
    • The Classified Balance Sheet
    • Evaluating Liquidity
    Principles of Accounting Level 1 Module 6
    Merchandising Transactions
    • Merchandising Transactions vs. Service Transactions
    • Characteristics of Merchandising Transactions
    • Characteristics of Sales Transactions
    • Characteristics of Perpetual and Periodic Inventory Systems
    • Pros and Cons of Inventory Systems
    • Purchase Transaction Journal Entries
    • Sales Transaction Journal Entries
    • Freight-In Methods
    Principles of Accounting Level 1 Module 7
    Accounting Information Systems
    • Manual and Computerized Accounting Information Systems
    • Inputting/Entering Data
    • Processing Data
    • Output: Presenting Information
    • Storing Data
    • Special Journals and Importance to Stakeholders
    • Subsidiary Ledgers
    Principles of Accounting Level 1 Module 8
    Fraud, Internal Controls, and Cash
    • Analyze Fraud in the Accounting Workplace
    • The Role of Internal Controls
    • Sarbanes-Oxley Act
    • Internal Controls within an Organization
    • Petty Cash Fund
    • Preparing Petty Cash Journal Entries
    • Management Responsibilities for Maintaining Internal Controls
    • Bank Reconciliation
    • Fraud in Financial Statements
    Principles of Accounting Level 2 Module 1
    Accounting for Receivables
    • Revenue Recognition Principle
    • Fundamentals of Bad Debt Expenses and Allowances for Doubtful Accounts
    • Efficiency of Receivables Management
    • Receivables Ratios
    • Earnings Management
    • Long-Term Projects
    • Notes Receivable vs. Accounts Receivable
    Principles of Accounting Level 2 Module 2
    Inventory
    • Fundamentals of Inventory
    • Periodic Inventory Method
    • Four Basic Inventory Valuation Methods
    • Cost of Goods Sold
    • Ending Inventory Using the Period Method
    • Ending Inventory Using the Perpetual Method
    • Impact of Inventory Valuation Errors on Income Statement and Balance Sheet
    Principles of Accounting Level 2 Module 3
    Long-Term Assets
    • Distinguish Between Tangible and Intangible Assets
    • Patents
    • Capitalized Costs vs. Expenses
    • Fundamentals of Depreciation
    • Fundamentals of Intangible Assets
    • Special Issues for Long-Term Assets
    Principles of Accounting Level 2 Module 4
    Current Liabilities
    • Fundamentals of Current Liabilities
    • Analyze, Report, and Journal Current Liabilities
    • Contingent Liabilities
    • Short-Term Notes Payable
    • Recording Transactions Incurred in Preparing Payroll
    Principles of Accounting Level 2 Module 5
    Long-Term Liabilities
    • Pricing of Long-Term Liabilities
    • Types of Long-Term Funding
    • Effective-Interest Method
    • Life Cycle of Bonds
    • Bonds Payable
    Principles of Accounting Level 2 Module 6
    Corporation Accounting
    • Organization of a Corporation
    • Advantages of the Corporate Form
    • Typical Common Stock Transactions
    • Nature and Purposes of Dividends
    • Owners’ Equity vs. Retained Earnings
    • Earnings per Share
    Principles of Accounting Level 2 Module 7
    Partnership Accounting
    • Characteristics of a Partnership
    • Disadvantages of Organizing as a Partnership
    • Types of Partnerships
    • Dissolution of a Partnership
    • Creation of a Partnership
    • Allocation of Income and Loss
    • Admission of New Partner
    • Fundamentals of Partnership Dissolution
    Principles of Accounting Level 2 Module 8
    Statement of Cash Flows
    • Approaches to Preparing the Statement of Cash Flows
    • Operating, Investing, and Financing Activities
    • Indirect Method
    • Assessing Liquidity
    • Solvency
    • Free Cash Flow

    Audience

    This course is for anyone who would like a firm grasp of the foundations and practical applications of professional accounting.

    Instructor Description

    This class supported by an Educational Mentor. Educational mentors have worked or are working in the subject they mentor. Educational Mentors review student work, student progress, and interact with students as needed. They respond to any questions or concerns you might have, as well as encouraging and motivating you to succeed.

    Required Materials

    All required reference materials are provided with this program. Technical requirements:

    Internet Connection
    • Broadband or High-Speed (DSL, Cable, Wireless)
    Hardware Requirements
    • Processor - 2GHz Processor or Higher
    • Memory - 1 GB RAM Minimum Recommended

    Software Requirements
    • Operating Systems - Windows 7, 8 or 10; Mac OS x 10 or higher
    • Microsoft Office 2007, 2010 or 2013 or a Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
    • Internet Browsers - Google Chrome is highly recommended
    • Cookies MUST be enabled
    • Pop-ups MUST be allowed (Pop-up Blocker disabled)
    • Adobe PDF Reader

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