- Introduction
- Credits and Debits 1
- Credits and Debits 2
- Why Accounting Is Boring
- The Secret To Passing Your Boring Accounting Class
- Accounting Hacks and The ADD Learner
- Financial Simulation Income Statement
What you'll learn
- Master accounting fundamentals
- Pass their accounting class
- Gain confidence in working through accounting simulations
- Focus and study tips
Description
Unlock the fundamentals of double entry accounting and the accounting equation through engaging and practical exercises tailored to a coffee shop business. This course is designed to transform theoretical knowledge into practical skills, making accounting concepts easy to understand and apply.
Course Highlights:
Identify Journal Entries for Classic Transactions: Learn to record the correct journal entries for four classic business transactions in a coffee shop setting. By working through real-world examples, you'll internalize the process, ensuring rapid recall and application.
Visualize Journal Entries: Walk through each journal entry like a story. Understand the impact of each transaction on your accounts by visualizing the journey from the initial expense to the final entry. You'll feel, see, and know the entire process.
Practical Scenarios:
Recording an Expense: Discover how to record the purchase of inventory, such as coffee beans, and understand the impact on your financial statements.
Earning Income: Learn the correct entry for sales transactions and see how selling a cup of coffee affects your accounts.
Purchasing Equipment: Understand the entries for buying equipment, like a new coffee machine, and its implications on your business.
Investing in the Company: Record investments made from personal savings and see how it boosts your business's cash flow.
Quick Multiple Choice: Test your understanding of key concepts with quick, multiple-choice questions. Identify the accounts affected by various transactions and their impact on equity and assets.
Match the Transactions Activity: Match descriptions of financial transactions with the correct journal entries. Reinforce your learning by actively engaging with the material.
True or False: Solidify your knowledge by determining the accuracy of statements related to expenses, income, liabilities, and investments.
By the end of this course, you'll have a solid grasp of double entry accounting and the accounting equation, equipped with practical skills to manage financial transactions confidently. Join us and turn accounting theory into practical, everyday business applications!
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About the instructors
- 0 Calificación
- 499 Estudiantes
- 1 Cursos
Elisha Schwab, CPA
Accounting Fundamentals Coach
Hi, I'm Elisha Schwab, a CPA licensed in NJ since 2019. With a passion for teaching and helping students master accounting fundamentals, I transitioned from being a Financial Controller in healthcare to accounting coaching and content creation. Despite initial challenges in college, I overcame them and noticed gaps in how accounting is taught in colleges and universities. Now, I simplify complex topics and focus on key areas. My motto: “Making the complex simple.” I believe in brevity and practical teaching over traditional, lengthy methods.