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Tracking expenses, liabilities, and equity

Tracking expenses, liabilities, and equity

Name: Tracking expenses, liabilities, and equity
Rating: 4.372817955112219 (802 reviews)

This course is part of Intuit Academy Bookkeeping Professional Certificate

Instructor: Intuit Academy Team

56,121 already enrolled

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6 modules

Gain insight into a topic and learn the fundamentals.

802 reviews

Beginner level

Recommended experience

Flexible schedule

1 week at 10 hours a week

Learn at your own pace

86%

Most learners liked this course

6 modules

Gain insight into a topic and learn the fundamentals.

802 reviews

Beginner level

Recommended experience

Flexible schedule

1 week at 10 hours a week

Learn at your own pace

86%

Most learners liked this course

What you'll learn

Describe the three main characteristics of liabilities.
Demonstrate an understanding of the basic payroll accounting functions and tasks.
Compare and contrast the different types of equity.
Use the accounting equation to describe the financial position of an organization.

Skills you'll gain

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Shareable certificate

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Assessments

6 assignments

Taught in English

91% of learners achieved a positive career outcome

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Build your Business Essentials expertise

This course is part of the Intuit Academy Bookkeeping Professional Certificate

When you enroll in this course, you'll also be enrolled in this Professional Certificate.

Learn new concepts from industry experts
Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate from Intuit

There are 6 modules in this course

In this third course, you will learn about liability and equity accounts and its effect on the balance sheet. If you have mastered bookkeeping basics and understand accounting assets, you are ready to jump into Liabilities and Equity in Accounting. You will explore the various types of liability, including: current and long term, payroll, and sales tax. Additionally, you will learn about the equity portion of the accounting equation and how to account for changes in owner’s equity.

By the end of this course, you will be able to: -Describe the three main characteristics of liabilities. -Demonstrate an understanding of the basic payroll accounting functions and tasks. -Compare and contrast the different types of equity -Use the accounting equation to describe the financial position of an organization. Courses 1 and 2 in the Intuit Bookkeeping Professional Certificate, or the equivalent, are recommended prerequisites for this course.

Module details

This module introduces the concept of financial obligations and their role in a business’s accounting system. You will explore different types of liabilities, how they appear in financial statements, and the relationship between liabilities, equity, and the accounting equation.

What's included

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This module teaches how to record and manage current liabilities, including accounts payable, lines of credit, deferred revenue, and sales tax payable. You will explore how these liabilities impact the accounting equation and practice recording related transactions accurately in financial statements.

What's included

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This module explores how to record and manage long-term liabilities, such as loans, mortgages, and other long-term financial obligations. You will practice using amortization schedules to allocate principal and interest, track loan balances, and accurately reflect these liabilities in financial statements.

What's included

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This module introduces the payroll process and teaches how to record payroll transactions accurately. You will explore payroll systems, tax withholdings, employee classifications, and journal entries to ensure compliance and proper financial reporting.

What's included

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This module explores how bookkeepers record and report equity to reflect a business owner’s financial interest in the company. You will analyze how investments, withdrawals, and retained earnings affect the accounting equation and overall financial health.

What's included

1 assignment1 plugin

This module reinforces key bookkeeping concepts related to expenses, liabilities, and equity. You will apply your knowledge through glossary challenges and realistic scenarios that demonstrate how transactions affect financial statements and the accounting equation.

What's included

1 assignment1 plugin

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Instructor

Instructor ratings

(229 ratings)

Intuit Academy Team

Intuit

4 Courses392,606 learners

Offered by

Intuit

Learner reviews

5 stars
65.79%
4 stars
17.66%
3 stars
8.08%
2 stars
5.09%
1 star
3.35%

Showing 3 of 802

Reviewed on Sep 3, 2022

It was my favorite course however, the wording on the exams could be a bit confusing at times and the final assessment was a bit difficult for some reason.Thank you.

Reviewed on Aug 22, 2021

Class is great to learn the accounting terminology and to apply what you learned. They still need to work on the quiz grading; not fun marking right answers wrong.

Reviewed on Jul 19, 2021

There where a few glitchy modules or places where the math didn't add up. Also, there was no way to reach out for clarification if I didn't understand on a quiz.

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