Course Outline for Accounting 1: Beginners

Module 1: Introduction to Accounting

Lesson 1: Overview of Accounting

• Definition and Purpose of Accounting
• The Role of Accounting in Business
• Types of Accounting

Lesson 2: Fundamental Accounting Principles

• Generally Accepted Accounting Principles (GAAP)
• Basic Accounting Concepts and Terminology

Lesson 3: The Accounting Cycle

• Steps in the Accounting Cycle
• The Importance of the Accounting Cycle in Business

Module 2: The Accounting Equation and Financial Statements

Lesson 1: The Accounting Equation

• Understanding Assets, Liabilities, and Equity
• How Transactions Affect the Accounting Equation

Lesson 2: Introduction to Financial Statements

• The Balance Sheet
• The Income Statement

Lesson 3: The Statement of Cash Flows

• Purpose and Components of the Statement of Cash Flows
• Differences Between Operating, Investing, and Financing Activities

Module 3: Recording Business Transactions

Lesson 1: Double-Entry Accounting System

• Debits and Credits
• The Importance of Accurate Recording

Lesson 2: Journalizing Transactions

• The General Journal
• Common Journal Entries

Lesson 3: Posting to the Ledger

• The General Ledger
• The Trial Balance

Module 4: Adjusting Entries and the Worksheet

Lesson 1: Adjusting Entries

• Types of Adjusting Entries
• Why Adjusting Entries is Necessary

Lesson 2: The Worksheet

• Purpose and Structure of the Worksheet
• Preparing Adjusting Entries Using the Worksheet

Lesson 3: Preparing Financial Statements from the Worksheet

• Completing the Worksheet
• Creating Financial Statements

Module 5: Closing Entries and the Post-Closing Trial Balance

Lesson 1: Closing Entries

• The Purpose of Closing Entries
• How to Prepare Closing Entries

Lesson 2: The Post-Closing Trial Balance

• Preparing the Post-Closing Trial Balance
• Ensuring Accuracy of Accounts

Lesson 3: Review and Practice

• Practical Exercises on Closing Entries and Post-Closing Trial Balance
• Common Errors and How to Avoid Them

Module 6: Introduction to Payroll Accounting

Lesson 1: Basics of Payroll Accounting

• Understanding Payroll Terms
• Payroll Taxes and Deductions

Lesson 2: Recording Payroll Transactions

• Journal Entries for Payroll
• Payroll Liabilities

Lesson 3: Payroll Reports and Forms

• Common Payroll Reports
• Filing Payroll Taxes

Module 7: Managing Accounts Receivable and Accounts Payable

Lesson 1: Accounts Receivable

• Recording and Managing Customer Invoices
• Aging of Accounts Receivable

Lesson 2: Accounts Payable

• Recording and Managing Vendor Invoices
• Payment Terms and Discounts

Lesson 3: Internal Controls for Receivables and Payables

• Importance of Internal Controls
• Best Practices for Managing Receivables and Payables

Module 8: Introduction to Budgeting and Financial Planning

Lesson 1: Basics of Budgeting

• Importance of Budgeting
• Types of Budgets

Lesson 2: Creating a Budget

• Steps in the Budgeting Process
• Using Historical Data for Budgeting

Lesson 3: Financial Planning for Small Businesses

• Short-Term vs. Long-Term Financial Planning
• Tools for Financial Planning

Module 9: Ethics in Accounting

Lesson 1: Importance of Ethics in Accounting

• Ethical Principles and Standards
• Consequences of Unethical Behavior

Lesson 2: Professional Codes of Conduct

• Overview of Professional Codes
• Applying Ethical Standards in Practice

Lesson 3: Case Studies and Scenarios

• Analyzing Real-World Ethical Dilemmas
• Discussion and Resolution of Ethical Issues

Module 10: Review and Final Assessment

Lesson 1: Comprehensive Review

• Key Concepts and Terms
• Important Formulas and Procedures

Lesson 2: Practice Exercises and Quizzes

• Practical Application of Concepts
• Preparing for the Final Assessment

Lesson 3: Final Assessment

• Comprehensive Exam Covering All Modules
• Feedback and Next Steps