Assets in Accounting

In this second course, you will dive deeper into the world of bookkeeping and focus on accounting for assets. If you are familiar with bookkeeping basics, such as double entry accounting, you are ready for this course. You will gain an understanding of common asset types, learn how to account for inventory, calculate cost of goods sold, and work with Property, Plant, and Equipment (PP&E). Upon completing this course, you will use your new knowledge of assets to record transactions and produce financial statements for increasingly complex business situations. By the end of this course, you will be able to: -Summarize the common types of assets a business may have -Describe the importance of control over inventory -Outline how depreciation expense is reported on an income statement -Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.

Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.

• Summarize the common types of assets a business may have.

• Describe the importance of control over inventory.

• Outline how depreciation expense is reported on an income statement.

• Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.

Syllabus

Syllabus - What you will learn from this course
Week 1
Accounting Concepts and Measurement
Week 2
Inventory Accounting Methods
Week 3
Property and Equipment
Week 4
Applying Accounting Principles and Knowledge

FAQ

When will I have access to the lectures and assignments?

Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:

The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.

The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.

What will I get if I subscribe to this Certificate?

When you enroll in the course, you get access to all of the courses in the Certificate, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

Reviews

A lot of information is covered but I think it would be ideal to have more practice with actual books like the case study. it was a lot to figure out.

The material doesn't lend itself to a captivating tale but it is presented very well and the fact that it can be done at one's own rate is wonderful for those of us who have limited time.

Love the test at the end with Excel spreadsheet.. to go from General Ledger to Balance Sheet.. then Inventory exercise.. awesome!

I thought I knew everything, but some course challenge me and I am glad I do it. Thank Intuit for making this course available on Coursera.