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Financial Accounting-Debits & Credits-Accounting Transaction (Udemy.com)

Masterclass: Learn Accounting Principles, Financial Statements, Transactions & More in this Comprehensive Course

Created by: Robert (Bob) Steele

Last updated June 2022

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What you will learn

  • Articulate Accounting's Role: Define the impact of accounting in business decisions and financial management.
  • Assess Accounting Ethics: Evaluate ethical principles and professional standards in accounting.
  • Utilize Accounting Equation: Apply the accounting equation in various financial scenarios.
  • Critique Financial Statements: Analyze balance sheets, income statements, and cash flow statements.
  • Contrast Accounting Methods: Differentiate between accrual and cash methods of accounting.
  • Exhibit Revenue Recognition: Demonstrate understanding of revenue recognition principles.
  • Illustrate Expense Recognition: Show proficiency in principles of expense recognition.
  • Record Financial Transactions: Accurately record diverse financial transactions.
  • Apply Debits and Credits: Use debits and credits in a range of account types.
  • Manage Cash Transactions: Record cash transactions, showcasing their impact.

How it compares

Against the other 200 rated Udemy courses in Accounting on CourseDuck:

  • Rating4.3 out of 5higher than 16% of them
  • Reviews900#64 of 201 by number of reviews
  • Length18.2 hourslonger than 82% of them
  • Last updatedJune 2022earlier than 59% of them

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Course Description

Embark on a comprehensive journey into the vibrant world of accounting with our meticulously designed course. This course is uniquely tailored to give you an extensive understanding of the fundamental concepts of accounting, creating a solid foundation on which your advanced understanding can flourish.

Throughout this course, you'll journey through the significant role of accounting in decision-making and financial management, revealing how reliable and crucial information is provided to a myriad of stakeholders. In addition, you will delve into the ethical principles and professional standards that guide the accounting profession, painting a picture of the moral compass every accountant needs to adhere to.

Our exploration takes us further into the heart of the accounting equation, a fundamental concept where you'll learn about its components - assets, liabilities, and equity - and how they interrelate. The journey continues through the terrain of financial statements, diving deep into balance sheets, income statements, and cash flow statements, and discovering how they offer vital insights into an organization's financial health.

We also tackle the major methods of accounting - accrual and cash. By understanding when revenue and expenses are recognized under each method, you'll learn to appreciate the advantages and limitations of each approach. Following this, we'll examine the principles of revenue and expense recognition, emphasizing the importance of accurately associating revenue with the expenses incurred in generating it.

You'll also learn the art of recording transactions, understand the impact of these transactions on the accounting equation, and familiarize yourself with the principles of dual-entry bookkeeping. Moreover, the course demystifies the concepts of debits and credits, leading you to understand their effects on various types of accounts.

We'll then delve into specific procedures for recording cash transactions and understand how they impact the accounting equation. This will be followed by mastering the processes of recording transactions related to accounts receivable and payable, and comprehending the importance of the general ledger in consolidating and summarizing financial information.

The course culminates in the application of the knowledge and skills you've acquired, allowing you to solve a comprehensive accounting problem. This includes analyzing transactions, preparing journal entries, posting to the general ledger, and preparing financial statements.

Whether you're an aspiring accounting student, a professional seeking to augment your financial prowess, or an entrepreneur aiming to enhance your financial management capabilities, this course promises to lay the solid groundwork you need to excel in the ever-evolving field of accounting. Embark on this transformative journey today, and unlock a world of opportunities in accounting like never before!

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Instructor Details

Robert (Bob) Steele

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.    

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).    

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.    

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Reviews

4.3

900 ratings on Udemy

Select a bar to show only those reviews.Select the bar again to show every rating.

By Nathomo Antony on 3/20/2026

i very happy i managed to complete this course, it refreshed my basic accounting knowledge i have already completed BCOM ACCOUNTING degree, the course was very useful in reminding me about accounting process from identifying transaction up until compiling financial statements.

By Patrick Roach on 2/28/2025

This course was a great match for me. I have ordered too many bookkeping courses from Udemy. I wish I would have found this one first. It provides a detailed level for the beginner. I really appreciate how the instructor presents the material. This course is 100% perfect for me. Perhaps for you too.

By Alex Hao on 4/19/2022

exercises were good. first time teachings were excellent. but lessons getting repetitive in the succeeding videos.

By Lucas Van Balen on 4/8/2022

Very detail course although a lot of talking and repeating. Sometimes only one slide and only talking that gets distracting and you loose interest in the subject. It's interesting the way to explain the debits and credits that helps to understand the dynamics of the accounting formulae. If you take this course just be prepared to a lot of repetitive talking that might help to stamp the subjects.

By Adrian Brewster on 5/5/2021

This course made by Robert Steele is enjoyable and easy to follow by not providing heavy accounting jargon. The use of excel with learning the accounting principles allow students to understand what accounts are affected when recording transactions. The assignments and practice questions help reinforce what was taught because you best remember while doing.

By Raj Kumar raina on 6/22/2020

its very good and procedure is nice one can fallow. but i am dissatisfied with udemy and Microsoft who ever is responsible i dont know whose fault is it that course is without certificate . all courses which i opted from Microsoft were without certificate. what is fun doing course without certificate . this has made me to think twice now before opting courses i hope any one its udemy or microsoft will reply

By Martha Gaal on 5/20/2020

Some downloads at the halfway point weren't available for me, although later ones were. Quite a few mistakes in this course. A transaction completely omitted in the last problem. Instructor is very patient with constantly repeating instructions (I appreciate the repetitiveness). Overall a good review of my high school accounting classes very many years ago.

By Olamilekan Samson Kazeem on 5/13/2020

Yeah, it's a good way to reminisce yourself with fundamental accounting principles you thought you knew, and it basically paved way for increased knowledge in fundamental ledger and journal accounting entries. It's a good course....

By Meital Levy on 6/28/2019

not as expected. seems like too many un-relevant points to the actual course subject. repetitive videos within the instruction and answers, instead of written answers as requested by the students. the instructor seems to have a great knowledge so he knows what he is talking about. great in showing and explaining!!

By Kalina gkioni on 11/19/2018

The course has been exactly what i was looking for. Perfect for people with no accounting background, helped me to grasp the concepts.Great as a first course on the subject. I come from a Math background, so i had minimal previous experience with accounting. What i really liked was that i understood the concepts that were confusing me and it was hard for me to grasp by searching random websites. Lots of practise examples and the instuctor is responsive. Only knocked 1/2 star because the instructor's voice sounds a bit weird, like a computer voice ,otherwise for what it offers and considering the price,it would be 5 stars. RECOMMENDED.

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Overall Score : 86 / 100