Assets in Accounting
LENGTH OF ACCESS: Two Months
The 2nd of 4 courses. You will dive deeper into the world of bookkeeping and focus on accounting for assets. 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). 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, and illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.