This course is part of the Intuit Academy Bookkeeping Professional Certificate

4.3
stars
616 ratings

Intuit Academy Team

25,520 already enrolled

Offered By

Intuit Academy Bookkeeping Professional CertificateIntuit

About this Course

240,641 recent views

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.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 2 of 4 in the

Intuit Academy Bookkeeping Professional Certificate

Beginner Level

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

Approx. 18 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

What you will learn

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.

Skills you will gain

Accounts receivable and cash receipts
Inventory costing methods
PP&E Accounting
Asset Accounting
Depreciation

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 2 of 4 in the

Intuit Academy Bookkeeping Professional Certificate

Beginner Level

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

Approx. 18 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.42/5 (214 Ratings)

Intuit Academy Team

95,058 Learners

4 Courses

Offered by

Intuit

See how employees at top companies are mastering in-demand skills

Learn more about Coursera for Business

Syllabus - What you will learn from this course

Content Rating81%(5,238 ratings)

Week1

Week 1

5 hours to complete

Accounting Concepts and Measurement

5 hours to complete

25 videos (Total 47 min), 4 readings, 6 quizzes

25 videos

Welcome to Intuit Academy's Bookkeeping Program50sWelcome to Course 2: Accounting for Assets2mCourse Introduction Video1mInstructor Introduction Video4mIntroduction to Asset Categories1mPrepaid Expense4mContra-Asset Accounts4mSummary and Wrap24sIntroduction to Accounting for Sales1mSales Types28sRecording Cash Sales18sExpert Advice on Posting Cash Sales1mRecording a Sales Receipt Introduction26sRecording a Sales Receipt 2mTiming Sales Receipt Posts35sIntroduction to Invoices17sAccounting for Invoices Using Software2mChecking in with Summer and Sophia13sIntroduction to Promissory Notes1mPromissory Notes2mOverview of Notes Receiveable1mJournal Entries for Notes Receivable1mOverview of Uncollectible Accounts4mBad Debt Overview and Write Off Methods4mLesson Summary and Wrap45s

4 readings

Welcome Reading Assets in Accounting 5mSyllabus10mSupport / Coursera Support10mHow to Track Prepaid Expenses for Your Business10m

6 practice exercises

Categorize These Assets5mReading Quiz5mAssets Practice Quiz30mSales Practice Quiz10mPromissory Notes Practice Quiz6mAccounting Concepts and Measurement Assessment30m

Week2

Week 2

4 hours to complete

Inventory Accounting Methods

4 hours to complete

21 videos (Total 47 min)

21 videos

Welcome to Course 2: Accounting for Assets2mIntroduction and Learning Objectives1mMerchandise Inventory2mThe Cost of Goods Sold1mInventory Systems3mPerpetual Inventory Example47sInventory Cost Flows4mFirst In, First Out2mLesson Summary and Wrap Up43sIntroduction and Objectives2mRaw Materials3mJournal Entries2mLesson Summary and Wrap31sIntroduction and Learning Objectives1mInventory Errors6mErrors and the Income Statement36sErrors and the Balance Sheet1mInventory Errors Example1mFixing Inventory Errors3mIncluding Disclosures2mLesson Summary and Wrap55s

4 practice exercises

Merchandise Inventory Quiz10mCosting Methods Quiz10mInventory Errors Quiz30mInventory Accounting Methods Assessment40m

Week3

Week 3

5 hours to complete

Property and Equipment

5 hours to complete

15 videos (Total 32 min)

15 videos

Introduction and Objectives19sCurrent and Noncurrent Assets Introduction14sImpact of Booking Assets as Expenses5mSetting Up a Fixed Asset Account in QuickBooks3mOriginal Cost Implications19sLesson Summary and Wrap21sIntroducing Depreciation1mSalvage Value1mIntroduction and Learning Objectives1mEquipment Leases1mDifference Between a Finance and Operating Lease3mJournal Entry Set Up2mEntering a Capital Lease in QuickBooks7mLesson Summary and Wrap Up55sJob Readiness Commercial 42s

4 practice exercises

PP&E Practice Quiz10mDepreciation Quiz10mEquipment Lease Quiz30mProperty and Equipment Assessment40m

Week4

Week 4

5 hours to complete

Applying Accounting Principles and Knowledge

5 hours to complete

11 videos (Total 30 min), 2 readings, 3 quizzes

11 videos

Introduction45sLiability Payments18sCash and AR errors4mIntroduction35sIntroduction and Objectives58sMeet the Business Owner1mIntroduction to Accounting for PP&E Life Cycle20sAccounting for PP&E Life Cycle Purchases Demo 5mAccounting for PP&E Disposition Demo7mAccounting for Leased Equipment Demo 7mLesson Summary and Wrap33s

2 readings

Assets in Accounting Case Study1hTake the Intuit Academy Bookkeeping exam10m

3 practice exercises

Cash, accounts receivable, and cash receipts quiz10mPP&E Concepts Quiz10mAssets in Accounting Case Study Quiz30m

Reviews

4.3

213 reviews

5 stars
61.35%
4 stars
22.06%
3 stars
9.01%
2 stars
4.99%
1 star
2.57%

TOP REVIEWS FROM ASSETS IN ACCOUNTING

by LHOct 19, 2021

Overall great course. Still unclear about some things and there is no way to clarify. That would make it better. But besides that this course is well done.

by EWJul 10, 2022

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.

by CAug 31, 2022

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.

by JBFeb 26, 2022

Some answers are inconsistent with the question but overall, I must say that I learned a lot! Thank you so much intuit.

View all reviews

About the Intuit Academy Bookkeeping Professional Certificate

Whether you are starting out or looking for a career change, the Intuit Academy Bookkeeping program prepares you for a variety of jobs in public accounting, private industry, government, and non-profit organizations—and for the Intuit Academy Bookkeeping exam. If you are detail-oriented and passionate about solving clients’ problems, this program is for you. You’ll gain a foundational understanding of accounting principles and an introduction to QuickBooks Online through hands-on practice working with real-world accounting scenarios. Upon completion, you’ll be ready to take the Intuit Academy Bookkeeping exam. With this certification, you will be qualified to apply for a position as a bookkeeper at Intuit QuickBooks Live or anywhere in the field. To learn more, visit https://academy.intuit.com/. Build a foundation of bookkeeping concepts and accounting measurement.

Learn how to work through the phases of the accounting cycle to produce key financial statements. Practice interpreting and analyzing financial statements to make key business decisions. You will need access to spreadsheet software (Excel, Google Sheets, Numbers or the equivalent) for some activities in this course. No previous accounting or bookkeeping experience necessary. Disclaimer: While this program aims to provide you with bookkeeping skills, completion is not a guarantee, or condition, of employment at Intuit or in the bookkeeping field.

Frequently Asked Questions

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.

More questions? Visit the Learner Help Center.

Build employee skills, drive business results

Discover Coursera for Business

Assets in Accounting

About this Course

What you will learn

Skills you will gain