Fundamentals of Accounting

Last Update July 23, 2021
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About This Course

This course fundamentals of accounting is the study of internal financial details that can affect decision-making is the study of accounting fundamentals.  We designed the course to be a perfect complement for those taking Accounting at professional. We’ll go over the theory with you and show you some examples. We’ll give you a rough estimate of how much the process would cost. We will discuss the flow of inventory costs and track the process of raw material-related costs, which will then flow to work in process and factory overhead, finished products, and ultimately expensed in the form of the cost of goods sold in a process cost system. This course is structured to expose students to current cost accounting theories and practice in order for them to be able to use accounting data in the planning and management of business practices. These concepts are important in helping students develop their analytical and critical thinking skills when reporting cost data. The goal is to develop students who are passionate about and capable of working as accountants in the business world. Not only will these topics save you a lot of time, but they will also provide you with a fruitful and productive learning with the help of audio-visual presentation techniques.

Learning Objectives

You will understand the strategies of fundamentals of accounting.
You will learn the common approach used for determining the value of an asset for inventory accounting.
You will learn the method of calculating the cost of a product or enterprise.
You will learn NRV for determining the value of an asset.

Material Includes

  • 19 on demand videos
  • Downloadable exercise files
  • Lifetime Access
  • Certificate of Completion


  • No prior accounting knowledge is necessary to learn this course.
  • Basic fundamentals of Mathematics will help.

Target Audience

  • Finance students, managers, accountants or anyone who wants to upgrade their skill in the area of accounting.
  • Learn this course if you want to understand the principles and concept of costing


19 Lessons3h

What Is Accounting


Basic Terminologies

Five Terms of Accounting

Accounting Standards

T Accounts and General Ledger

General Ledger

Annual Report

Current and Non Current Method

Discount and Loss Rate

Net Realizable Value

Concept of Aging


Concept of FIFO

Cost of Goods

Inventory Recording System


Classification of Investment


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All Levels
Duration 3 hours
19 lectures

Material Includes

  • 19 on demand videos
  • Downloadable exercise files
  • Lifetime Access
  • Certificate of Completion