Liabilities and Equity in Accounting
This course is part of the Intuit Bookkeeping Professional Certificate
About this Course
In this third course, you will learn about liability and equity accounts and its effect on the balance sheet. If you have mastered bookkeeping basics and understand accounting assets, you are ready to jump into Liabilities and Equity in Accounting. You will explore the various types of liability, including: current and long term, payroll, and sales tax. Additionally, you will learn about the equity portion of the accounting equation and how to account for changes in owner’s equity.
By the end of this course, you will be able to:
-Describe the three main characteristics of liabilities.
-Demonstrate an understanding of the basic payroll accounting functions and tasks.
-Compare and contrast the different types of equity
-Use the accounting equation to describe the financial position of an organization.
Courses 1 and 2 in the Intuit Bookkeeping Professional Certificate, or the equivalent, are recommended prerequisites for this course.
WHAT YOU WILL LEARN
• Describe the three main characteristics of liabilities.
• Demonstrate an understanding of the basic payroll accounting functions and tasks.
• Compare and contrast the different types of equity.
• Use the accounting equation to describe the financial position of an organization.
SKILLS YOU WILL GAIN
• Accounts Payable and Payroll
• Owner’s Equity and Owner’s Draw
• Accounting
• Long-Term Liabilities and Note Payable
• Accounting for Liabilities and Equity
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 3 of 4 in the
• Intuit Bookkeeping Professional Certificate
Beginner Level
• Course 2, Assets in Accounting, or equivalent, is a suggested pre-requisite.
Approx. 14 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 - Liabilities and Equity in Accounting
In this module, you will be introduced to different liabilities and learn how to account for them. Additionally, you will learn how to work with the sales tax payable accounts.
WEEK 2 - Payroll, Obligations, and Loans
In this module, you will gain an understanding and apply knowledge of accounting for sales tax and payroll liabilities.
WEEK 3 - Equity and Liabilities
In this module, you will learn how to work with different types of long term liabilities and shareholders equity.
WEEK 4 - Practice with Liabilities and Equity
In this final module for Course 3, you will apply your bookkeeping knowledge by working through common accounting scenarios that deal with liabilities, payroll, and equity.
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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