Liabilities and Equity in Accounting

This third course will teach you about equity and liability accounts, and how they affect the balance sheet. You are ready to move on to Liabilities and Equity in Accounting if you have mastered the basics of bookkeeping and an understanding of accounting assets. The various types of liabilities you will be exposed to include current, long-term, payroll, sales tax, and more. You will also learn about equity and how to account changes in owner's equity.

This course will teach you how to identify the three main attributes of liabilities. Demonstrate a basic understanding of payroll accounting functions and tasks. Compare and contrast different types of equity. -Use an accounting equation to explain the financial situation of an organization. This course is recommended for those who have completed the Intuit Bookkeeping Professional Certificate or an equivalent.