Accounting Fundamentals for Small Business (powered by MindEdge)
Accounting Fundamentals for Small Businesses (powered by MindEdge) – Course Code M1366SP
Formats: Self Paced
Estimated length: 5 hours
Access Time: 90 days
.5 CEUs | 5 PDUs
Following basic accounting principles is an essential and necessary part of any business, regardless of size. As a small business owner, it is crucial to recognize the importance of maintaining proper financial records. Accounting records help identify sources of revenue, monitor the progress of business operations, assist in identifying areas that need improvement, and aid in preparing accurate financial statements.
This course will introduce you to fundamental accounting concepts and develop your ability to record and analyze business transactions, and prepare the four major financial statements.
Understand the business entity concept and how it is applied
Apply the rules of double-entry accounting
Create and record business transactions
Understand how to post transactions to the general journal and general ledger
Explain the concept of T-accounts
Discuss the systematic classification of accounts in the chart of accounts
Interpret the rules of debit and credit
Explain the general purpose of financial statements
Describe the relationships between financial statements
Games & Flashcards
Audio-enabled in app
This course has an “Ask the Expert” feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.
This course does not require any additional purchases of supplementary materials.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs. Learners will have three attempts at all graded assessments.
The following list outlines the PDUs you will earn for completing this course, based on the certification you have.
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