Give yourself skills that are in high demand by exploring corporate accounting.
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.
- This course can be taken on either a PC, Mac, or Chromebook.
- PC: Windows 8 or later.
- Mac: macOS 10.6 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
- Adobe Acrobat Reader.
- Software must be installed and fully operational before the course begins.
- Email capabilities and access to a personal email account.
- A calculator and a printer.
Instructional Material Requirements:
The instructional materials required for this course are included in enrollment and will be available online.
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.
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.
Uncollectible Accounts Receivable
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.
Plant Assets and Depreciation
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.
Notes Payable and Notes Receivable
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.
Accrued Income and Accrued Expenses
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.
Dividends and Starting the Year-End Worksheet
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.
Complete Year-End Worksheet With Adjustments
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.
End-Of-Fiscal-Period Financial Reports
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.
Adjusting and Closing Entries and Post Closing Trial Balance
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.
Preparing a Payroll
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.
Preparing Federal Tax Deposits and Year-End Tax Reports
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.
What you will learn
- Learn about accounts payable and receivable
- Understand how to represent uncollectible accounts in reports
- Learn about plant assets and timely depreciation of these assets
- Learn how to deal with accrued income and accrued expenses
- Understand stock dividends and retained earnings
- Learn how to prepare year-end financial documents including tax forms
How you will benefit
- Become more indispensable to any organization as you develop higher level accounting skills
- Learn everything you need to know to accurately keep the books for any type of business
- Become more aware of the accuracy of your own personal pay stubs and tax documents
- Open the door to more career opportunities in accounting
Nancy Koenig is an experienced industry professional with over 40 years in the workforce, including decades in finance. Nancy has worked in various finance roles in banking, insurance, and a hospital billing office. For the last 27 years of her career, she was an administrative assistant at a technical school, which involved running and overseeing the entire budget, amongst other duties. Nancy has also held part-time jobs as a bookkeeper for an auto parts store and a cable company, where she used QuickBooks computerized software. Over the past several years, she has also co-taught the Accounting Fundamentals and Accounting Fundamentals II courses with Charlene Messier.