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Course Catalog > Professional Development > Business > - Accounting & Bookkeeping

Accounting Fundamentals II  

Give yourself skills that are in high demand by exploring corporate accounting.

While it is true that accounting professionals are scarce, those with corporate accounting experience are even scarcer. This course will provide you with a solid understanding of corporate accounting practices.

In Accounting Fundamentals II, you will explore such topics as special journals, uncollectible accounts receivable, plant assets, depreciation, notes and interest, accrued revenue and expenses, dividends, retained earnings, and various financial reports for corporations.

If you're interested in increasing your financial awareness and accountability while also gaining a marketable skill, this is the course for you.


Requirements:

Hardware Requirements:

  • This course can be taken on either a PC or Mac.

Software Requirements:

  • PC: Windows 8 or newer.
  • Mac: OS X Snow Leopard 10.6 or later.
  • Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
  • Adobe Acrobat Reader. Click here to download the Acrobat Reader.
  • Software must be installed and fully operational before the course begins.

Other:

  • Email capabilities and access to a personal email account.
  • A calculator and a printer.

Prerequisites:

Completion of Accounting Fundamentals (or equivalent experience)

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment and will be available online.


Explore the world of corporate accounting and increase your financial know-how while gaining in-demand skills. This course will provide you with a solid understanding of recording and analyzing plant assets, depreciation, interest, dividends, revenue and other important corporate money matters.

Accounts Payable

In this lesson, you will learn all about accounts payable. You will be journalizing and posting your company's purchases and preparing a Schedule of Accounts Payable. This lesson will give you the tools you need to successfully track those accounts.

Accounts Receivable

In this lesson you will take a close look at accounts receivable. After completing this lesson, you will know how to enter charge sales into your Sales Journal and then post them to your General Ledger. You will have also learned how to journalize payments on account received from your charge customers.

Uncollectible Accounts Receivable

In this lesson you will learn about uncollectible accounts receivable. While many believe customers will always pay what they owe, that is not always the case. You will learn how to account for long overdue receivables that probably won't ever be paid.

Plant Assets and Depreciation

In this lesson, you will learn about plant assets and depreciation. Just like your car, business assets depreciate over time, so you will need to know how to account for that expense in your records. You will also need to record these assets and calculate their depreciation in a timely manner.

Notes Payable and Notes Receivable

This lesson is all about notes payable and notes receivable. You will learn all you need to know about accounting for these situations as you learn how to record the issuance and payment of these notes payables and notes receivables.

Accrued Income and Accrued Expenses

In this lesson, you will learn how to deal with accrued income and accrued expenses. Accrued income is money that the company earns in one fiscal period but doesn't receive until after another fiscal period begins.

Dividends and Starting the Year-End Worksheet

In this lesson, you will be dealing with dividends, which is money paid to the company's stockholders on their investment. You will learn how the business accounts for the dividends it pays to its stockholders. You will also look at retained earnings, or the amount of profit the corporation retains for future use.

Complete Year-End Worksheet With Adjustments

In this lesson, you will determine whether your business has a net income or a net loss by completing the worksheet started in the previous lesson. Because many General Ledger accounts change throughout the fiscal period, you will also need to bring these accounts up to date.

End-Of-Fiscal-Period Financial Reports

It's time to begin wrapping up your books for the end of the fiscal period. In this lesson, you will learn how to compile most of the various financial reports a corporation needs to complete at the end of the fiscal period.

Adjusting and Closing Entries and Post Closing Trial Balance

In this lesson, you will get the books all caught up and ready for the next fiscal period. You will go back and journalize those adjusting entries you entered into your worksheet, then you will enter closing entries into your journal.

Preparing a Payroll

This lesson covers every employee's favorite subject: Payroll. You will learn about various mandatory and voluntary deductions from employees' pay, as well as how to journalize and post an entire payroll. As an added bonus, after this lesson, you will be able to check the accuracy of your own paycheck.

Preparing Federal Tax Deposits and Year-End Tax Reports

The final lesson focuses on preparing a variety of end-of-year tax reports. Here's your chance to go step-by-step through a multitude of IRS forms with instructions that are much easier to understand. You will fill out the federal Form 941, then learn how to make federal income tax deposits.



Charlene Messier has more than 25 years of teaching experience. Throughout the course of her career, she has taught various business subjects to thousands of students. Now retired from her full-time teaching duties, Messier continues to teach courses online, specializing in accounting, word processing, business law, business economics, and finance.

 

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