MDX1607 - Accounting Fundamentals for Small Businesses

Course Description

Course Description

Following basic accounting principles is an essential and necessary part of any business, regardless of size. As a small business owner, it is crucial to recognize the importance of maintaining proper financial records. Accounting records help identify sources of revenue, monitor the progress of business operations, assist in identifying areas that need improvement, and aid in preparing accurate financial statements.

This course will introduce you to fundamental accounting concepts and develop your ability to record and analyze business transactions, and prepare the four major financial statements.

Learning Outcomes

• Understand the business entity concept and how it is applied
• Apply the rules of double-entry accounting
• Create and record business transactions
• Understand how to post transactions to the general journal and general ledger
• Explain the concept of T-accounts
• Discuss the systematic classification of accounts in the chart of accounts
• Interpret the rules of debit and credit
• Explain the general purpose of financial statements
• Describe the relationships between financial statements

Key Features

• Expert-supported
• Mobile-friendly
• Accessible
• Games & Flashcards
• Video content
• Audio-enabled in app

Refund Policy

You may request a refund up to 5 days from the purchase date. The registration fee will only be refunded if less than 10% of the course has been completed. Completion percentage can be viewed on the Course Progress page from within the course.

Notes

This course has an "Ask the Expert" feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.

This course does not require any additional purchases of supplementary materials.

Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs. Learners will have three attempts at all graded assessments.

The following list outlines the PDUs you will earn for completing this course, based on the certification you have.

• PMP®/PgMP®
• Technical: 1
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 5
• PMI-RMP®
• Technical: 0
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 4
• PMI-SP®
• Technical: 0
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 4
• PMI-ACP®
• Technical: 0
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 4
• PfMP®
• Technical: 0
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 4
• PMI-PBA®
• Technical: 0
• Leadership: 1.75
• Strategic/Business: 2.25
• TOTAL: 4

Applies Towards the Following Certificates

• Certificate in Small Business Management : Certificate in Small Business Management
• Small Business Management (ACE CREDIT) : Small Business Management (ACE CREDIT)