Accounting Fundamentals Associate
Debits, credits and why the balance sheet balances.
Add it to your LinkedIn profile with the insiderOne logo, verifiable by anyone.
What you will be able to do
- Write journal entries for everyday business transactions, GST included, with debits and credits on the right sides
- Post entries to ledger accounts and produce a trial balance that agrees
- Pass month-end adjusting entries for outstanding, prepaid, accrued and advance items and for depreciation
- Work out a month's GST payable, using input tax credit in the order the law requires
- Prepare a bank reconciliation statement that explains every rupee of difference
- Turn an adjusted trial balance into a profit and loss and a balance sheet that balances
Commerce and BBA students, freshers joining an accounts, audit or finance team, and small business owners who want to follow what their accountant sends them.
What is in it
- 1The equation that always balances11 min
- 2Debits and credits, and the rule behind them11 min
- 3From journal to ledger to trial balance11 min
- 4Accruals and month-end adjustments11 min
- 5Stock, depreciation and capital spending12 min
- 6GST in the books12 min
- 7Bank reconciliation11 min
- 8From trial balance to final accounts11 min
Close the books for Deccan Peripherals' first month
The journal entries for June, a trial balance at 30 June that agrees, the GST payable for June with the use of credits shown step by step, and two short notes to Farhan on things he should know.
About 125 minutes in total.
Two levels
Finish the units and the project and you get the Certificate of Completion. Pass the live skill challenge on Accounting at Practitioner level or above and it becomes a Verified Certificate, which anyone you send it to can check for themselves.
Questions
What does it cost?
Nothing while insiderOne is in beta.
Can an employer check it?
Yes. Every certificate has its own page, and the code printed on it resolves there without anyone needing an account.
Do I need any experience?
No. These are written for students and people in their first job, and they assume nothing.
What do I actually walk away with?
The certificate, and the piece of work you made for the project. That goes into your insiderOne profile as a proof item, private until you choose to show it.
Know someone studying this?
It is free while insiderOne is in beta, and the certificate is checkable by anyone they send it to.