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.
Assets in Accounting
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Assets in Accounting
This course is part of Intuit Academy Bookkeeping Professional Certificate
Instructor: Intuit Academy Team
96,633 already enrolled
Included with
Gain insight into a topic and learn the fundamentals.
4.4
(1,325 reviews)
Beginner level
Recommended experience
Flexible schedule
2 weeks at 10 hours a week
Learn at your own pace
83%
Most learners liked this course
What you'll 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'll gain
- Category: Inventory Control
- Category: Financial Accounting
- Category: Capital Expenditure
- Category: Bookkeeping
- Category: Accounting
- Category: Asset Management
- Category: Operating Expense
- Category: Inventory Accounting
- Category: Depreciation
- Category: Balance Sheet
- Category: Property Accounting
- Category: Accounting Records
- Category: Financial Statements
- Category: Income Statement
- Category: Fixed Asset
- Category: Lease Contracts
Details to know
Shareable certificate
Add to your LinkedIn profile
Assessments
17 assignments
Taught in English
Build your Business Essentials expertise
This course is part of the Intuit Academy Bookkeeping Professional Certificate
When you enroll in this course, you'll also be enrolled in this Professional Certificate.
- Learn new concepts from industry experts
- Gain a foundational understanding of a subject or tool
- Develop job-relevant skills with hands-on projects
- Earn a shareable career certificate from Intuit
There are 4 modules in this course
In this module, you'll begin to work with assets and understand how to account for sales, notes receivable, and uncollectible accounts.
What's included
25 videos4 readings6 assignments4 discussion prompts8 plugins
In this module, you will learn about inventory accounting methods, including cost of goods sold, costing methods, and management techniques.
What's included
21 videos4 assignments4 discussion prompts4 plugins
In this module, you will learn how to work with plant, property, equipment, depreciation of assets, and the implications of equipment leases.
What's included
15 videos4 assignments2 discussion prompts10 plugins
In this module, you will apply your knowledge of accounting principles to identify how various transactions and assets impact the balance sheet and income statement.
What's included
11 videos2 readings3 assignments2 discussion prompts9 plugins
Earn a career certificate
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Instructor
Instructor ratings
4.5 (415 ratings)Intuit Academy Team
Intuit
4 Courses346,093 learners
Offered by
Intuit
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Learner reviews
4.4
1,325 reviews
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Showing 3 of 1325
MA
5
Reviewed on May 19, 2023
I found the course to be excellent! The course was easy to understand quizzes were great to determine if you were assimilating the information. The tests were comprehensive.
LC
5
Reviewed on Oct 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.
JW
4
Reviewed on Jan 21, 2025
Overall this was a good course. Some of the questions in the tests were not covered in the material, however if you have a basic grasp of bookkeeping then they are easy to answer.
Frequently asked questions
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. 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.
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.