1.5 CPE In this course, the accounting equation of Assets = Liabilities + Shareholder Equity is expanded upon to understand how debits and credits are used to stay in balance. Core accounting tools are presented, including t-accounts, ledgers, journals and trial balances.
You will gain an understanding of how each of these tools interacts with one another and its distinct purpose in an accounting system. There are many opportunities for hands-on practice in this course.
Course Series
This course is included in the following series:
11 CoursesBack to the Basics: Accounting Fundamentals
- Accounting Review: The Basics of Debits and Credits
- Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances
- Accounting Review: Overview of Financial Statements; P&L, Balance Sheet, and Cash Flow
- The Accounting Equation and Financial Statements
- Bank Reconciliations, Cash, and Internal Controls
- Accounts Receivable Training: Bad Debts
- Equipment and Depreciation
- Inventory Costing
- Purchase and Sale of Inventory
- The Adjusting Process
- The Closing Process
Learning Objectives
- Identify the classification of accounts and recognize how they are impacted by debits and credits
- Discover how to implement t-accounts and ledgers to perform transaction analysis
- Discover how to use journal entries to record transactions
- Recognize how to perform transaction analysis using journal entries
- Identify the steps of the accounting cycle
Last updated/reviewed: March 25, 2024
52 Reviews (192 ratings)
Reviews
Anonymous
(Bookkeeper)
Found the course to be a great refresher course on the fundamentals of financial accounting. The instructor is clear and easy to understand. However there is one aspect of these courses that I really dislike. The instructor writes on the screen and it is very slow. This wastes time and is annoying to the viewer. I found the workbook to be very helpful in applying the concepts taught.
Mary Oconnor
( at Scribcor Global Lease Administration)
Erik Slayter is one of my favorite presenters. He breaks down the material into manageable parts, has excellent examples and live "On Demand" courses which keeps the viewed engaged. In addition, the time he gives you to work though a problem of definition to guage your understanding is great way to present this type of accounting material.
Anonymous
(Accountant)
this course was very 'beginner-friendly' and provided several examples. I agree with some of the other reviews that the format used with the instructor writing/drawing out everything could have been better. A simple power point presentation would have been easier to read and would have allowed plenty of space to include everything.
Anonymous
(Accounting Manager)
Very good review of debits and credits. For more experienced accountants, I found it useful to listen to the instructors explanations so I can use similar language when explaining to the accountants I manage.
Anonymous
()
I found this to be a very informative and comprehensive refresher course. All objectives of the course were met. The instructor was clear and concise when presenting and explaining concepts.
Anonymous
(Assistant Controller)
Much more clear than a general accounting course on here. Useful & understandable ... again the exam was a bit difficult for what was explained in the lessons, but it wasn't unmanageable.
Anonymous
(Accounting Manager)
Excellent overview of accounting especially for beginners. I like the instructors use of the "big T account" method. I also liked the part where I had to find the mistakes.
John Filbert
(Consultant at DLC Group)
Great overview of the transaction cycles in accounting. Really enjoyed the overview of T-accounts. I feel like they are not sued enough anymore.
Anonymous
(Audit Manager)
Good course for beginners who may be deciding whether to pursue a career in accounting. The basics were well presented and easy to understand,
Anonymous
(-)
Demonstrates how to account for standard daily transactions. How to go from the entry to the scenario represented and vice versa.
Anonymous
()
excellent class. throughly covered all the information with great use of examples. I really liked the review at the end.
Anonymous
(CFO)
very basic, easy to follow - individuals with no accounting or finance backgrounds will get the most out of this course
Anonymous
(Consultant - Process Specialist)
You'll be able to grasp the basics of accounting. This is a great starter for those new to the accounting world
Anonymous
()
Great to use as a review after a break in employment or studies. Better to use with 1st course in the series.
Kirk Valencia
(Business Administrator at Denver Church of Christ)
I appreciate the rationale and thoroughness provided in the type of reports and transactions made.
Anonymous
(Accountant II)
What you would expect for a foundation level course. The questions proved to be a nice refresher.
Anonymous
(Senior Accountant)
Great Refresher course of accounting fundamentals, presented by a very clear and solid instructor
Anonymous
()
Good overview in relation to transactions and how they relate to the trial balance accounts.
Jessica Spaulding
(Accountant at Firebirds Funding)
Excellent course going through basic accounting concepts. A very good introductory course.
Vera Nickelsen
(Fraud Agent at Intuit)
it seems kind of dry in the presentation. I would love some info on not using T-accounts.
Anonymous
(Accounting Manager)
Foundational course on t-accounts, very basic but an obvious course everyone should know.
Anonymous
(Accountant)
Good overview of the basics of debits and credits and useful examples of trial balances.
Anonymous
()
Good course full of lots of information for a quick review. Would recommend to others.
Denise Cutrone
( at Denise Cutrone Advisors)
The instructor was able to explain concepts in a manner that is easy to understand
Anonymous
(Consultant)
Pretty basic accounting here, but nice to solidify the knowledge. Easy to follow.
Muhammad Baig
(Managing Director at N/A)
A reasonably good course with informative material well-suited for the purpose.
Devika Lakkavajjala
(Director at Devika Lakkavajjala CPA LLC)
The instructor was clear and concise, examples and explanations were adequate.
Grant Brannum
(Agent at Treasury)
Course was a good review of debit and credit functions and was explained well.
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
A good refresher course on accounting basics. Good for my new job position.
Anonymous
(Accounts Payable Specialist)
Good review and examples. I suggest a few more exercises like at the end.
Lauren Keppler
(Tax Senior at EKS&H)
Good course for basic accounting 101, especially if you like T-accounts
Monica Burgos
(- at Monica Burgos)
Some of the exam questions need to be reevaluated as they are unclear.
Kathleen Masterson
(CFO at Institute for Intergovernmental Research)
Use new technology instead of writing accounts. PPT is helpful , too.
Devlyn Brown
(Senior AR Representative at Yelp)
I found this course to be very informative and easy to follow.
Anonymous
(CPA)
Good review of basic principles to keep me in shape !
Benjamen Adams
(Not Provided at Adams Group)
Another great course and so much knowledge gained.
Steven Moore
(Certified Management Accountant; CMA at ArdentAccounting)
A decent basic accounting review. Thanks!
Anonymous
(CPA)
Good working examples of the concepts.
Anonymous
(Treasury and Fixed Asset Accountant/Reco..)
Took too long to write words.
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
A good entry level program.
Simon Adell
(Chief Financial Officer at Undisclosed)
Solid overview of the topic.
Charles Elwis
(Insurance Broker at Health Guys)
Good review of bookkeeping
Todd Stanley
(Fiscal Officer at County of Passaic)
good basic refresher course
Anonymous
(Budget & Accounting Manager)
Review of journal entries
Lynne Bromley Holloman
(Accounting Manager at Woodside Equine Clinic)
Very informative course.
Theodore Zeck
(Certified Public Accountant at Theodore R. Zeck, CPA)
Enjoyed the course.
Anonymous
(None)
Good basic review.
Anonymous
(None)
Good course
Anonymous
(General Accountant & senior Auditor)
Very NICE
Anonymous
()
Good pace
Patrenia McAbee
(Owner at McAbee Consulting)
Done
John Thompson
(CEO at westward mgt)
Good
Prerequisites
Course Complexity: Foundational
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Erik SlayterAccounting Professor at Cal Poly
About Illumeo
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- Email: info@illumeo.com
- Phone: 408-400-3993
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- Av #221, Campbell, CA 95008
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