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Intuit

Tracking expenses, liabilities, and equity

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.

Status: General Accounting
Status: Equities
BeginnerCourse13 hours

Featured reviews

SM

4.0Reviewed Aug 23, 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.

LL

5.0Reviewed Sep 4, 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.

KC

4.0Reviewed Jul 20, 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.

HL

4.0Reviewed Oct 4, 2024

Course needs a walk through on how the answers were found for journal entries, general ledger, balance sheets, and income statements for the workbooks

FM

5.0Reviewed Apr 16, 2024

I really enjoyed this course. I would add that it would have been nice to really get more journal entry exercises that make you really think about how to make entries on your own without the computer.

TE

4.0Reviewed Sep 12, 2024

This is a great course, I recommend it to anyone wishing to be a bookkeeper or starting as an accountant. It will definitely help.

TL

4.0Reviewed Jul 23, 2022

Not mush explaining as to how the money was off in the trial balance. but working backwards and a bit of time I did figure it out.

SB

4.0Reviewed Apr 18, 2024

Having a hard time with the actual journal practices. Would love a "review" file where everything is correct to compare-maybe after the test? So confusing.

CS

4.0Reviewed Dec 10, 2021

Payroll section is not useful unless you are American. Rules are different for other countries. Other sections are straightforward but it does cover topics quickly.

JD

4.0Reviewed Jun 4, 2022

There seems to be some missing information for the Case Study. The beginning cash account balance appears to be off, or there is a transaction missing.

VR

4.0Reviewed Feb 18, 2022

Overall this was a good course. My issue was the case study wasn't in balance to start with so my impossible to see if I needed t correct something or it was from an error from last period.

VG

4.0Reviewed Aug 20, 2021

There are many practical examples, and the way they explain the concepts make it easy to understand. Althouhg, they need to improve the case studies, their spreadsheets and some calculations seem off.

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