Basic Bookkeeping Topics Within Accounting

Hello everyone and welcome to our “Basic Bookkeeping Topics Within Accounting” course. In this course we will discuss the basic bookkeeping aspect of financial accounting. Specifically, we will learn the concept of debits and credits and how to determine the balance of any account. From there, we discuss the “normal” balances of accounts (i.e. how to increase an account.) We will also learn how to use those concepts to prepare initial and adjusting journal entries, post them to the T accounts/general ledger accounts, and create financial statements. The financial statements include the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows. Finally, we will prepare and post closing entries to end the accounting period. Along the way we will be discussing three different types of trial balances: unadjusted, adjusted, and post closing. This course includes text materials, as well as various videos that have been embedded into the course. This is a free course to provide you with the basics of bookkeeping to get you started in the field of accounting. I hope you find that you enjoy it as much as I have. I look forward to working with you throughout the course.