This course introduces students to the foundational elements and concepts of double-entry accounting systems within the context of a service business organized as a sole proprietorship. Students will develop skills in applying the accounting equation, analyzing business transactions, recording entries in journals, posting to ledgers, and compiling end-of-period financial statements. Additional topics include preparing closing entries and effectively managing and protecting cash.
This course uses BYU’s Knowledge, Skills, and Attributes (KSA) model to give students the opportunity to develop both real-world 21st Century Skills and Social and Emotional Learning Soft Skills to develop college and career readiness.
- Knowledge: Accounting
- Skill: Critical Thinking—Interpretation and Analysis
- Attribute: Integrity
What You’ll Learn
- Introduction to Accounting Fundamentals: Learn the foundational concepts of accounting, including the accounting equation, debits and credits, and the role of accounting in business.
- Recording & Reporting Transactions: Practice journalizing transactions, posting to ledgers, and preparing basic financial statements.
- Year-End & Cash Procedures: Understand how to close accounts with closing entries and manage cash accounting tasks.
- Practical Business Application: Apply accounting principles to real business scenarios, reinforcing technical skills and financial literacy.
- Credit Hours: 0.5
Course Features
- Lecture 0
- Quiz 0
- Duration 10 weeks
- Skill level All levels
- Language English
- Students 0
- Assessments Yes
- 15 Sections
- 0 Lessons
- 10 Weeks
Expand all sectionsCollapse all sections
- Unit 1: Module 1: The Language of Business0
- Unit 1: Module 2: Business Structures0
- Unit 2: Module 3: The Accounting Equation0
- Unit 2: Module 4: Balancing the Accounting Equation0
- Unit 3: Module 5: Debits and Credits0
- Unit 3: Module 6: T-Accounts0
- Unit 4: Module 7: Journalizing and Posting Transactions0
- Unit 4: Module 8: Posting Transactions0
- Unit 5: Module 9: Trial Balance0
- Unit 5: Module 10: Financial Statements0
- Unit 6: Module 11: Closing Entries0
- Unit 7: Module 12: Cash Control Systems0
- Unit 7: Module 13: Financial Fraud0
- Unit 8: Module 14: Automated Accounting0
- Unit 8: Module 15: Careers in the Field of Accounting0
