Accounting for Everyone in Business
Knowing accounting is a must for everyone in business. It is a game changer. It leads us towards success in our chosen path.
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IntroductionDefinition of AccountingDefinition of BusinessHistory of AccountingPurpose of AccountingThe Accounting ProfessionAccounting and Information Technology
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Basic Accounting Concepts and Financial StatementsIFRS and GAAPBasic Accounting ConceptsConceptual Framework for Financial Reporting (CFFR)
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The Accounting Equation and the Double Entry Bookkeeping SystemBusiness TransactionsThe Accounting EquationThe Chart of Accounts
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The Accounting Cycle of a BusinessPreparing the Trial BalancePreparing the Financial StatementsPreparing the post-closing trial balancePreparing the reversing entries for the next cycle
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Accounting for a Service BusinessChart of Accounts for a Service BusinessIllustrative example of Accounting Cycle for a Service BusinessPreparing the Trial BalancePreparing the Financial StatementsPreparing the Post-Closing Trial BalancePreparing the Reversing Entries for the next Accounting Cycle
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Accounting for a Merchandising BusinessOverview of a Merchandising BusinessChart of accounts for a Merchandising BusinessIllustrative Example of Accounting Cycle for a Merchandising BusinessPreparing the Trial BalancePreparing the Financial StatementsPreparing the Post - Closing Trial BalancePreparing the Reversing Entries for the Next Accounting Cycle
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Accounting for a Manufacturing BusinessOverview of a Manufacturing BusinessChart of Accounts for a Manufacturing BusinessIllustrative Example of Accounting Cycle for a Manufacturing BusinessPreparing the Trial BalancePreparing the Financial StatementsPreparing the Post-Closing Trial BalancePreparing the Reversing Entries for the next Accounting Cycle
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Special Journals and Subsidiary LedgersControlling and Subsidiary LedgersSpecial Journals
This course is a must for everyone who is engaged in business or those who are planning to put up one. Not to be discounted, but goiing into business is the last resort for everyone who thinks that employment is just a stepping stone in achieving one's financial independence. Putting up your own business is the key and learning accounting is one of the basic ingredients in starting a business.
This will serve as a confidence booster to undertake and pursue a bolder attitude towards our determination to engage in business. A feeling of security to know the status of where our money went and where it will go in the years ahead.
There is a truth in saying that "accounting is the language of business". A language is a tool for communicating ideas, thought, and information to others. Technological advancement in information cannot be achieved without computer languages developed by the programmers to communicate with machines in order to get the desired result. Likewise, accounting is the language used to communicate financial information from a business to interested stakeholders. it is a medium with which users of financial information understand the status of a business enterprise.
Why is it that accounting information is that so important? Because it shows not only the wholistic view of the total business, but also it provides us a complete detail of what is happening inside the business..There is no other source except this one. You may physically visit the business facilitites, but you do not know in reality the details of what is inside unless you are provided with financial information. If you do not know how to read and understand it. Sorry for you. You might just be wasting your time and money,
Our success in business is the only lasting legacy that we can provide to our children - an everlasting contribution to the succeeding generation. A fitting remembrance for a worthwhile cause we dare to explore.
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