Learning the fundamentals of accounting is not only essential in understanding a business, but your personal finances as well. So if you're someone starting a business and want to know what's going on with your financials, you're looking for a career as a bookkeeper/accountant, you're a business student, or you're someone who wants to make sense of their personal income and net worth, this Accounting 101 course is designed for you.
One of the reasons accounting can seem difficult is that it uses special terminology and equations. Lucky for you, I've created a cheat sheet to that contains the basics of what you need to know.
Using it you can not only learn the basics of accounting, but you can use it to practice different accounting scenarios. It's a simple yet powerful spreadsheet designed to show you what's happening when you debit and credit accounts. Even after years of recording accounting transactions, I still find this cheat sheet helpful in quickly figuring out how to record a specific accounting scenario. It's my own special accounting calculator, something that I use in conjunction with talking to accounting professionals and using accounting software.I've created a set of 6 lessons, that help you understand the basics of accounting, using the Accounting Equation Cheat Sheet as its foundation. However, if you're already familiar with the basics, please feel free to skip ahead to lesson 7, which is a crash course on how to use the Accounting Equation Cheat Sheet.One last thing, because this whole set of accounting 101 lessons were created as video lessons using the Accounting Equation Cheat Sheet, you'll most likely understand the lessons a lot better by watching the videos.
Check in here to see how far you've progressed in the course (if the bar below is completely blank, you've got a bit of work to do). If you want to see your quiz results, please visit the member page.