uCertify

Accounting All-in-One

(ACCOUNTS.AE1)/ISBN:978-1-64459-449-0

This course includes
Lessons
Hands-On Labs
Accounting All-in-One

Accounting All-In-One For Dummies, 3rd Edition, is your all-encompassing guide to mastering various aspects of accounting. In this course, you'll explore critical topics like financial reporting, budgeting, and financial decision-making, equipping you with the skills needed to succeed in the world of accounting. From setting up accounting systems to fraud prevention, this course offers a comprehensive understanding of accounting. With interactive lessons and practice tests, you'll not only enhance your expertise but also embark on a journey to conquer the realm of numbers. Whether you're a student, a business owner, or a professional, this course paves the way for financial success.

Lessons

52+ Lessons | 70+ Exercises | 258+ Quizzes | 255+ Flashcards | 255+ Glossary of terms

Hands-On Labs

22+ LiveLab | 22+ Video tutorials | 43+ Minutes

Video Lessons

11+ Videos | 02:06+ Hours

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Here's what you will learn

Download Course Outline

Lessons 1: Introduction

  • About This Course
  • Where to Go from Here

Lessons 2: Accounting for the Basics

  • Knowing What Bookkeeping and Accounting Are All About
  • Wrapping Your Brain around the Accounting Cycle
  • Working the Fundamental Accounting Equation

Lessons 3: Charting Your Accounts

  • Navigating the Chart of Accounts
  • Setting Up Your Chart of Accounts
  • Giving Credit (Or Is It Debit?)
  • Understanding Double-Entry Accounting

Lessons 4: Using Journal Entries and Ledgers

  • Keeping a Journal
  • Bringing It All Together in the Ledger
  • Putting Accounting Software to Work for You

Lessons 5: Choosing an Accounting Method

  • Choosing Your Method
  • Sorting through Standards for Other Types of Accounting

Lessons 6: Setting the Standards

  • Exploring the Origins of Accounting Standards
  • Recognizing the Role of the American Institute of Certified Public Accountants
  • Checking Out the U.S. Securities and Exchange Commission
  • Getting to Know the Financial Accounting Standards Board
  • Grasping Accounting Standards Around the Globe

Lessons 7: Keeping the Books

  • Analyzing the Effect of Business Transactions
  • Managing Your Bookkeeping and Accounting System
  • Wrapping Up with End-of-Period Procedures

Lessons 8: Tracking Purchases

  • Keeping Track of Inventory
  • Buying Supplies
  • Handling Billing and Payables

Lessons 9: Tallying Your Sales

  • Collecting on Cash Sales
  • Selling on Credit
  • Proving Out the Cash Register
  • Tracking Sales Discounts
  • Recording Returns and Allowances
  • Monitoring Accounts Receivable
  • Accepting Your Losses

Lessons 10: Processing Employee Payroll and Benefits

  • Staffing Your Business
  • Collecting Employee Taxes
  • Determining Net Pay
  • Surveying Your Benefits Options
  • Preparing Payroll and Posting It in the Books
  • Depositing Employee Taxes

Lessons 11: Taxing Payrolls

  • Paying Employer Taxes on Social Security and Medicare
  • Completing Unemployment Reports and Paying Unemployment Taxes
  • Carrying Workers’ Compensation Insurance
  • Maintaining Employee Records

Lessons 12: Depreciating Your Assets

  • Appreciating Depreciation
  • Comparing Depreciation Options
  • Tackling Taxes and Depreciation

Lessons 13: Interesting Rates

  • Deciphering Types of Interest
  • Handling Interest Income
  • Delving into Loans and Interest Expenses

Lessons 14: Proving Out Cash

  • Making Sure That Ending Cash Is Right
  • Closing the Cash Journals
  • Using a Temporary Posting Journal

Lessons 15: Reconciling Accounts and Closing Journal Entries

  • Reconciling Bank Accounts
  • Prepping to Close: Checking for Accuracy and Tallying Things Up
  • Posting to the General Ledger
  • Checking Out Computerized Journal Records

Lessons 16: Checking Your Accuracy

  • Working with a Trial Balance
  • Testing Your Balance by Using Computerized Accounting Systems
  • Developing a Financial Statement Worksheet
  • Replacing Worksheets with Computerized Reports

Lessons 17: Adjusting the Books

  • Adjusting All the Right Areas
  • Testing an Adjusted Trial Balance

Lessons 18: Stating Your Income

  • Understanding the Nature of Profit
  • Choosing the Income-Statement Format
  • Deciding What to Disclose in the Income Statement
  • Examining How Sales and Expenses Change Assets and Liabilities
  • Considering the Diverse Financial Effects of Making a Profit
  • Reporting Extraordinary Gains and Losses
  • Correcting Common Misconceptions about Profit

Lessons 19: Balancing Your Sheets

  • Homing in on Historic Cost
  • Discovering What Makes an Asset Current
  • Exploring the Asset Section of the Balance Sheet

Lessons 20: Digging for Debt in the Balance Sheet

  • Seeing How Businesses Account for Liabilities
  • Keeping Current Liabilities under Control
  • Planning for Long-Term Obligations
  • Accounting for Bond Issuances

Lessons 21: Explaining Equity

  • Understanding How Owner Equity Varies among Business Entities
  • Distinguishing between Two Types of Capital Stock
  • Defining Paid-In Capital
  • Recording Retained Earnings
  • Spotting Reductions to Stockholders’ Equity
  • Exploring Stock Splits
  • Computing Earnings per Share

Lessons 22: Interpreting Income Statements and Balance Sheets

  • Rejoining the Income Statement and Balance Sheet
  • Introducing Operating Ratios
  • Adding Fixed Assets, Depreciation, and Owners’ Equity
  • Completing the Balance Sheet with Debt

Lessons 23: Valuating Finances

  • Clarifying the Values of Assets in Balance Sheets
  • Introducing Business Valuation
  • Comparing Business Valuation Methods

Lessons 24: Watching Cash Flow and Equity

  • Understanding the Difference between Cash and Profit
  • Flowing Through Cash Transactions
  • Navigating the Three Flows
  • Preparing the Statement of Cash Flows
  • Interpreting the Statement of Cash Flows
  • Stating Changes in Stockholders’ Equity

Lessons 25: Analyzing Financial Statements

  • Judging Solvency and Liquidity
  • Driving the Balance Sheet
  • Measuring Profitability
  • Exploring Activity Measures
  • Comparing Horizontal and Vertical Analysis
  • Using Common Size Financial Statements

Lessons 26: Explaining Disclosures

  • Questioning Self-Governance
  • Identifying Corporate Characteristics
  • Reviewing Common Explanatory Notes
  • Putting the Onus on the Preparer

Lessons 27: Sharing Public Reports

  • Differentiating between Private and Public Companies
  • Finding Purpose in Reports
  • Reading the Annual Report to Shareholders
  • Walking through Form 10-K

Lessons 28: Looking at the Legals

  • Surveying Structures
  • Going It Alone: Sole Proprietorships
  • Choosing the Right Legal Structure for Income Tax

Lessons 29: Incorporating Your Business

  • Securing Capital: Starting with Owners
  • Recognizing Legal Roots
  • Incorporating a Business

Lessons 30: Drawing Up a Business Plan

  • Outlining the Basic Business Plan
  • Developing a Business Plan
  • Incorporating Third-Party Information into Your Plan

Lessons 31: Budgeting for a Better Bottom Line

  • Brushing Up on Budgeting
  • Recognizing Factors That Affect Your Budgeting Process
  • Understanding Budgeting Basics
  • Reviewing Revenue and Production Budgets

Lessons 32: Mastering Budgeting Strategies

  • Budgeting with Cash or Accrual Accounting
  • Budgeting to Produce the Income Statement and Balance Sheet
  • Flexing Your Budget: When Plans Change

Lessons 33: Planning for Long-Term Obligations

  • Managing Long-Term Debt
  • Accounting for Bonds

Lessons 34: Costing Jobs

  • Understanding How Job Costing Works
  • Taking a Closer Look at Indirect Costs by Using Normal Costing
  • Following the Flow of Costs through a Manufacturing System

Lessons 35: Costing by the ABCs

  • Avoiding the Slippery Slope of Peanut Butter Costing
  • Designing an Activity-Based Costing System
  • Using Activity-Based Costing to Compute Total Cost, Profit, and Sale Price

Lessons 36: Contributing to the Margin

  • Computing Contribution Margin
  • Preparing a Cost-Volume-Profit Analysis
  • Generating a Break-Even Analysis
  • Shooting for Target Profit
  • Setting a Margin of Safety
  • Measuring Operating Leverage

Lessons 37: Accounting for Change with Variance Analysis

  • Setting Up Standard Costs
  • Understanding Variances
  • Teasing Out Variances

Lessons 38: Pricing Wisely

  • Differentiating Products
  • Taking All Costs into Account with Absorption Costing
  • Pricing at Cost Plus
  • Accounting Extremes: Trying Variable-Cost Pricing
  • Hitting the Bull’s-Eye (Your Target Cost)

Lessons 39: Formulating Equations

  • Analyzing Profitability
  • Using Assets Effectively
  • Evaluating Firm Liquidity
  • Checking on Company Solvency
  • Managing Projects and Debt

Lessons 40: Matching Costs with Revenue

  • Defining Costs and Expenses in the Business World
  • Discovering Which Costs Are Depreciated
  • Preparing a Depreciation Schedule
  • Deciding When to Recognize Revenue

Lessons 41: Exploring Inventory Cost Flows

  • Stating Inventory Valuation
  • Logging Inventory for Service Companies
  • Classifying Inventory Types
  • Knowing Inventory Valuation Methods
  • Preparing an Inventory Worksheet

Lessons 42: Buying Wisely

  • Identifying Incremental and Opportunity Costs
  • Keeping Things Simple: The Cash Payback Method
  • Netting Present Value
  • Measuring Internal Rate of Return
  • Considering Qualitative Factors

Lessons 43: Financing with Debt

  • Understanding the Basics of Debt Capital
  • Determining When Debt Is Most Appropriate
  • Using Loans, Leases, and Other Sources of Debt
  • Getting Creative with Capital

Lessons 44: Managing Results

  • Approaching Financial Reports
  • Reviewing Profit and Earnings
  • Judging the Company’s Cash Position
  • Tackling Extraordinary Gains and Losses
  • Recognizing the Risks of Restatement

Lessons 45: Acquiring New Business

  • Maximizing Business Value
  • Becoming a Team Player
  • Funding a Business Purchase
  • Working through Due Diligence
  • Coming to Terms with a Sale Price

Lessons 46: Regulating Securities

  • Early Securities Laws
  • The Scope of SOX: Securities and Issuers
  • The Post-SOX Paper Trail

Lessons 47: Preventing Cash Losses from Embezzlement and Fraud

  • Preventing Loss with Internal Controls
  • Putting Internal Controls to Work
  • Recognizing Limitations of Internal Controls

Lessons 48: Assessing Audit Risk

  • Introducing Audit Risk
  • Recognizing the Nature of a Client’s Business: Inherent Risk
  • Assessing a Client’s Ability to Detect and Correct Problems: Control Risk
  • Figuring Your Chances of Overlooking Inaccuracies: Detection Risk
  • Following Risk Assessment Procedures
  • Figuring Out What’s Material and What Isn’t
  • Evaluating Your Audit Risk Results

Lessons 49: Discovering Audits

  • Management Assertions: Assessing the Information a Client Gives You
  • Eyeing the Four Concepts of Audit Evidence
  • Applying Professional Judgment
  • Using Your Audit Program to Request the Right Evidence
  • Documenting the Audit Evidence

Lessons 50: Auditing Internal Controls

  • Defining Internal Controls
  • Identifying the Five Components of Internal Controls
  • Determining When You Need to Audit Internal Controls
  • Testing a Client’s Reliability: Assessing Internal Control Procedures
  • Limiting Audit Procedures When Controls Are Strong
  • Tailoring Tests to Internal Control Weaknesses
  • Timing a Client’s Control Procedures

Lessons 51: Scheming Scams

  • Frauds Committed by Businesses
  • Frauds Committed against Businesses

Lessons 52: Cooking the Books

  • Exploring the Financial Statement Fraud Triangle
  • Spotting the Common Methods of Fraud
  • Uncovering Financial Statement Fraud

Hands-on LAB Activities

Charting Your Accounts

  • Understanding the Balance Sheet

Using Journal Entries and Ledgers

  • Understanding Journal, Ledger, and Trial Balance

Tracking Purchases

  • Calculating the Cost of Goods Sold Using the Weighted Average Method
  • Calculating the Cost of Goods Sold Using the FIFO Method
  • Calculating the Cost of Goods Sold Using the LIFO Method

Tallying Your Sales

  • Selling on Credit Sales
  • Understanding Cash Sales, Discount, and Sales Return

Proving Out Cash

  • Understanding the Double-Entry System

Reconciling Accounts and Closing Journal Entries

  • Reconciling Bank Accounts

Checking Your Accuracy

  • Working on the Trial Balance

Adjusting the Books

  • Depreciating the Asset

Stating Your Income

  • Understanding the Income Statement
  • Calculating the Net Income

Digging for Debt in the Balance Sheet

  • Calculating Working Capital
  • Calculating the Current Ratio

Explaining Equity

  • Calculating Total Liabilities and Owners' Equity

Interpreting Income Statements and Balance Sheets

  • Working with a Balance Sheet

Watching Cash Flow and Equity

  • Understanding the Cash Flow Statement
  • Preparing a Cash Flow Statement

Accounting for Change with Variance Analysis

  • Calculating Total Overhead
  • Understanding the Overhead Cost

Financing with Debt

  • Calculating the Debt-to-Equity Ratio