Recording in Journals & Posting in Ledgers

Go to Course: https://www.coursera.org/learn/recording-business-transactions

Introduction

**Course Review: Recording in Journals & Posting in Ledgers on Coursera** **Overview** The "Recording in Journals & Posting in Ledgers" course on Coursera is an excellent introduction to the essential practices in accounting. This course is designed for anyone looking to understand the foundational procedures involved in recording financial entries, and it is particularly beneficial for those who aspire to enter the field of accounting or related business disciplines. With a focus on practical skills and real-world applications, this course equips learners to analyze and record various business transactions effectively. **Course Highlights** One of the course's key strengths is its structured approach, which is broken down into manageable modules that build on each other. The course covers critical areas such as the accounting cycle, posting transactions, and the differentiation between accrual and cash accounting. This comprehensive scope ensures that participants not only learn how to execute accounting tasks but also understand the underlying principles that govern these practices. **Syllabus Breakdown** 1. **Recording Transactions in the General Journal** - This module lays the groundwork for the entire course by teaching the fundamentals of recording financial transactions. The step-by-step approach allows for an easy understanding of debit and credit rules. The inclusion of a graded activity enables students to actively apply what they’ve learned in a supportive environment, reinforcing their understanding. 2. **Posting Transactions for the General Journal to the Ledger** - The transition from the journal to the ledger is a crucial aspect of accounting. In this module, learners are introduced to ledger forms and T-accounts. The detailed walkthrough of posting transactions prepares participants to manage this process confidently, culminating in a practical, graded activity that solidifies their skills. 3. **The Trial Balance & Correcting Entries** - Understanding trial balances and the necessity for correcting entries is vital for maintaining accurate financial records. This module effectively covers the transfer of data from ledgers to the trial balance and provides insights into identifying and correcting errors. By encouraging hands-on practice through a graded activity, learners solidify their expertise in this area. 4. **Accrual Accounting vs. Cash Accounting** - This final module dives into the principles that differentiate cash accounting from accrual accounting. It introduces learners to crucial concepts such as the periodicity assumption and the matching principle. The opportunity to work through example problems ensures that students can apply these concepts in practical scenarios, further enhancing their understanding. **Overall Impression** The "Recording in Journals & Posting in Ledgers" course stands out for its clear objectives, structured content, and practical orientation. The mix of theory and hands-on activities is ideal for learners who benefit from a combination of learning styles. The course effectively prepares participants for real-world accounting tasks by providing a solid foundation in essential principles and practices. **Recommendation** I highly recommend this course to anyone interested in accounting, whether you're a complete beginner or someone looking to refresh their skills. The knowledge gained here will be invaluable in any financial role, and the practical activities ensure that students are not just passive learners but active participants in their education. Whether you are pursuing a career in business, finance, or entrepreneurship, mastering the skills taught in this course will undoubtedly provide a significant advantage. In conclusion, "Recording in Journals & Posting in Ledgers" is a well-crafted course that promises to enhance your understanding of fundamental accounting practices while providing the necessary skills to succeed in the financial arena. Enroll today to take the first step in your accounting journey!

Syllabus

Recording Transactions in the General Journal

In this module we will review the process of recording proper entries into the general journal. We will start by walking through the step-by-step process of analyzing and recording service business transactions that follow the debit and credit rules. You will then have the opportunity to record transactions in the general journal on your own in this module's graded activity.

In this module we will review the process of posting transactions from the general journal to the ledger. We will start by introducing ledger forms and T-accounts, then we will proceed to a walkthrough of the proper steps of posting transactions. You will then have the opportunity to post transactions from the general journal to the ledger on your own in this module's graded activity.

In this module we will introduce the trial balance and the process of correcting entries. We will begin with an overview of how to transfer data from the ledgers to the trial balance, and continue with a step-by-step walkthrough of correcting entries. You will then have the opportunity to prepare your own trial balance in this module's graded activity.

In this module we will introduce and learn to differentiate between cash accounting and accrual accounting. We will begin by reviewing key concepts related to accrual accounting including the periodicity assumption, the expense recognition principle, the revenue recognition principle, and the matching principle. You will then have the opportunity to work through example problems on your own in this module's activity.