Assets in Accounting
This course is part of the Intuit Bookkeeping Professional Certificate
In this second course, you will dive deeper into the world of bookkeeping and focus on accounting for assets. If you are familiar with bookkeeping basics, such as double entry accounting, you are ready for this course. You will gain an understanding of common asset types, learn how to account for inventory, calculate cost of goods sold, and work with Property, Plant, and Equipment (PP&E). Upon completing this course, you will use your new knowledge of assets to record transactions and produce financial statements for increasingly complex business situations.
By the end of this course, you will be able to:
-Summarize the common types of assets a business may have
-Describe the importance of control over inventory
-Outline how depreciation expense is reported on an income statement
-Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.
Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.
WHAT YOU WILL LEARN
• Summarize the common types of assets a business may have.
• Describe the importance of control over inventory.
• Outline how depreciation expense is reported on an income statement.
• Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.
SKILLS YOU WILL GAIN
• Accounts receivable and cash receipts
• Inventory costing methods
• PP&E Accounting
• Asset Accounting
• Depreciation
Flexible deadlines
• Reset deadlines in accordance to your schedule.
Shareable Certificate
• Earn a Certificate upon completion
100% online
• Start instantly and learn at your own schedule.
Course 2 of 4 in the
• Intuit Bookkeeping Professional Certificate
Beginner Level
• Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.
Approx. 19 hours to complete
English
• Subtitles: English
Offered by Intuit
As a global technology platform, Intuit's vision is to build the world’s largest professional network that gives tax, bookkeeping, and financial experts confidence and empowers them with intelligent tools and development paths to provide an exceptional experience to our customers and make them successful in their financial lives.
Syllabus - What you will learn from this course
WEEK 1 - Accounting Concepts and Measurement
In this module, you'll begin to work with assets and understand how to account for sales, notes receivable, and uncollectible accounts.
WEEK 2 - Inventory Accounting Methods
In this module, you will learn about inventory accounting methods, including cost of goods sold, costing methods, and management techniques.
WEEK 3 - Property and Equipment
In this module, you will learn how to work with plant, property, equipment, depreciation of assets, and the implications of equipment leases.
WEEK 4 - Applying Accounting Principles and Knowledge
In this module, you will apply your knowledge of accounting principles to identify how various transactions and assets impact the balance sheet and income statement.
About the Intuit Bookkeeping Professional Certificate
Whether you are starting out or looking for a career change, the Intuit Bookkeeping Professional Certificate prepares you for a variety of jobs in public accounting, private industry, government, and non-profit organizations—and for the Intuit Certified Bookkeeping Professional exam. If you are detail-oriented and passionate about solving clients’ problems, this program is for you. You’ll gain a foundational understanding of accounting principles and an introduction to QuickBooks Online through hands-on practice working with real-world accounting scenarios. Upon completion, you’ll be ready to take the Intuit Certified Bookkeeping Professional exam. With this certification, you will be qualified to apply for a position as a bookkeeper at Intuit QuickBooks Live or anywhere in the field. To learn more, visit https://home.pearsonvue.com/intuit. Build a foundation of bookkeeping concepts and accounting measurement.
Learn how to work through the phases of the accounting cycle to produce key financial statements. Practice interpreting and analyzing financial statements to make key business decisions. You will need access to spreadsheet software (Excel, Google Sheets, Numbers or the equivalent) for some activities in this course. No previous accounting or bookkeeping experience necessary. Disclaimer: While this program aims to provide you with bookkeeping skills, completion is not a guarantee, or condition, of employment at Intuit or in the bookkeeping field.
Start Learning Today
Financial aid available
• Taught by top companies and universities
• Affordable programs
• Apply your skills with hands-on projects
• Learn on your own schedule
• Course videos and readings
• Graded quizzes and assignments
• No degree or experience required for many programs
• Shareable Certificate upon completion
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