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.
Liabilities and Equity in Accounting
Liabilities and Equity in Accounting
This course is part of Intuit Academy Bookkeeping Professional Certificate
Instructor: Intuit Academy Team
39,324 already enrolled
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Gain insight into a topic and learn the fundamentals.
4.4
(709 reviews)
Beginner level
Recommended experience
Flexible schedule
Approx. 13 hours
Learn at your own pace
87%
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
Details to know
Shareable certificate
Add to your LinkedIn profile
Assessments
16 assignments
Taught in English
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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.
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There are 4 modules in this course
In this module, you will be introduced to different liabilities and learn how to account for them. Additionally, you will learn how to work with the sales tax payable accounts.
What's included
21 videos2 readings3 assignments4 discussion prompts4 plugins
In this module, you will gain an understanding and apply knowledge of accounting for sales tax and payroll liabilities.
What's included
27 videos5 assignments1 discussion prompt14 plugins
In this module, you will learn how to work with different types of long term liabilities and shareholders equity.
What's included
18 videos4 assignments4 discussion prompts5 plugins
In this final module for Course 3, you will apply your bookkeeping knowledge by working through common accounting scenarios that deal with liabilities, payroll, and equity.
What's included
18 videos2 readings4 assignments3 discussion prompts9 plugins
Instructor
Instructor ratings
4.3 (204 ratings)Offered by
Recommended if you're interested in Business Essentials
University of Illinois Urbana-Champaign
University of Lausanne
University of Pennsylvania
University of Illinois Urbana-Champaign
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4.4
709 reviews
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Showing 3 of 709
SM
4
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.
ML
5
Reviewed on May 22, 2023
Very comprehensive and educational, this course really brought the other two courses I completed before this make so much sense!
KC
4
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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