Starting a business? This course introduces you to the basics of bookkeeping for a new start-up business. It includes the basics about accounting and shows you how to keep a set of books using a free open-source accounting program called GnuCash. You can later apply this knowledge to commonly-used commercial software programs, such as QuickBooks. After this course, which should take 6 to 8 hours, you should know:
- Why accounting is important, and how to set up accounting software.
- The nature of owners' equity, and how to record owners' investments and loans from creditors.
- What assets are, and how to record purchases of long-term assets.
- What revenues are, and how to record revenues earned with sales tax.
- How to record receivables owed by customers.
- What expenses are, and how to record them.
- What depreciation is, and how to record it. Also how to record sales of assets.
- How to calculate interest, and the meaning of "accrual."
- How to prepare a basic income statement and balance sheet.
I am an Associate Professor of Accounting and the Chair of the Department of Accounting and Taxation at Seton Hall University. I am an inactive Certified Public Accountant, I hold a PhD in Accounting from the University of Texas at Austin, and I have 18 years of experience teaching accounting courses full time. I host the Accountinator website, authored Managerial Accounting for Dummies, and co-authored the book, Interpreting and Analyzing Financial Statements.
To take this course, you will need a Windows, Mac, or Linux computer that can run GnuCash. For system requirements, click here.
This course is in no way affiliated with Seton Hall University.
The first two lessons are free. If you choose to enroll in this course, and are in any way dissatisfied with your purchase, I will refund the cost to you within three months of purchase.
Table of Contents
3. Investing Activities IAssets, purchasing equipment, and supplies
4. Operating Activities IRevenue, cash sales, and sales tax
5. Operating Activities IISales on credit
6. Operating Activities IIIExpenses and payables
7. Investing Activities IIDepreciating and selling equipment
8. Financing Activities IIInterest, accrual accounting, and owner drawings
9. Analyzing Your PerformanceIncome, the income statement, and the balance sheet
Questions about this course? Contact the creator.Mark Holtzman