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Explore the world of corporate accounting and increase your financial know-how while gaining in-demand skills. This course will provide you with a solid understanding of recording and analyzing plant assets, depreciation, interest, dividends, revenue and other important corporate money matters.
While it is true that accounting professionals are scarce, those with corporate accounting experience are even scarcer. This course will provide you with a solid understanding of corporate accounting practices.
In Accounting Fundamentals II, you will explore such topics as special journals, uncollectible accounts receivable, plant assets, depreciation, notes and interest, accrued revenue and expenses, dividends, retained earnings, and various financial reports for corporations.
If you're interested in increasing your financial awareness and accountability while also gaining a marketable skill, this is the course for you.
What you will learn
How you will benefit
In this lesson, you will learn all about accounts payable. You will be journalizing and posting your company's purchases and preparing a Schedule of Accounts Payable. This lesson will give you the tools you need to successfully track those accounts.
In this lesson you will take a close look at accounts receivable. After completing this lesson, you will know how to enter charge sales into your Sales Journal and then post them to your General Ledger. You will have also learned how to journalize payments on account received from your charge customers.
In this lesson you will learn about uncollectible accounts receivable. While many believe customers will always pay what they owe, that is not always the case. You will learn how to account for long overdue receivables that probably won't ever be paid.
In this lesson, you will learn about plant assets and depreciation. Just like your car, business assets depreciate over time, so you will need to know how to account for that expense in your records. You will also need to record these assets and calculate their depreciation in a timely manner.
This lesson is all about notes payable and notes receivable. You will learn all you need to know about accounting for these situations as you learn how to record the issuance and payment of these notes payables and notes receivables.
In this lesson, you will learn how to deal with accrued income and accrued expenses. Accrued income is money that the company earns in one fiscal period but doesn't receive until after another fiscal period begins.
In this lesson, you will be dealing with dividends, which is money paid to the company's stockholders on their investment. You will learn how the business accounts for the dividends it pays to its stockholders. You will also look at retained earnings, or the amount of profit the corporation retains for future use.
In this lesson, you will determine whether your business has a net income or a net loss by completing the worksheet started in the previous lesson. Because many General Ledger accounts change throughout the fiscal period, you will also need to bring these accounts up to date.
It's time to begin wrapping up your books for the end of the fiscal period. In this lesson, you will learn how to compile most of the various financial reports a corporation needs to complete at the end of the fiscal period.
In this lesson, you will get the books all caught up and ready for the next fiscal period. You will go back and journalize those adjusting entries you entered into your worksheet, then you will enter closing entries into your journal.
This lesson covers every employee's favorite subject: Payroll. You will learn about various mandatory and voluntary deductions from employees' pay, as well as how to journalize and post an entire payroll. As an added bonus, after this lesson, you will be able to check the accuracy of your own paycheck.
The final lesson focuses on preparing a variety of end-of-year tax reports. Here's your chance to go step-by-step through a multitude of IRS forms with instructions that are much easier to understand. You will fill out the federal Form 941, then learn how to make federal income tax deposits.
Completion of Accounting Fundamentals (or equivalent experience)
We live in a society where the pressures of daily living are high with financial expenses, personal and work commitments, and mortgage and rental obligations. Then there are the unexpected life challenges that also get thrown our way. With this in mind the thought of taking on study can be daunting for most people. Here at Learning Cloud we understand that life doesn’t run in a straight line it has many ups and downs.
As an enrolled student at Learning Cloud, you are entitled to access a variety of non-academic support services from the Student Services Unit. These supports are designed to walk beside you throughout your studies they will assist you in life’s ups and downs to provide you the best opportunity to successfully complete your chosen course.
STUDENT SERVICES PROGRAMS INCLUDE:
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How will this course advance my career?
Learning Cloud programs have been developed in response to industry demand and are specifically designed to equip graduates with work-ready skills. Each participant will be trained and assessed in theory and in practical tasks and Real-world exercises are used throughout the program.
Studies prove, time and again, that college-educated workers earn more than those with only a high school qualification. College graduates often enjoy additional benefits, including greater job opportunities and promotions. Though the proof for greater earning potential exists, some might wonder whether the cost of the education warrants the overall expense in the long run.
College Graduate vs. Non-Graduate Earnings
The National Centre for Education Statistics (NCES) analyses employee earnings data biennially, according to education level. Findings indicate that workers with a qualification earn significantly more than those without. Since the mid-1980s, education has played a large part in potential wages, with bachelor's degree holders taking home an average of 66% more than those with only a high school diploma do. While college-educated workers' wages have increased over the past two decades, those with only a high school education have seen decreases in annual salaries in the same time period (nces.ed.gov).
How else will I benefit from studying with Learning Cloud?