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Home » Finance Programs » Finance for Beginners
Financial Accounting for Beginners is a course that covers the fundamentals of accounting with the newcomer in mind. Accounting is more than just memorizing terms and procedures; it's a whole new way of thinking about finances. This course assumes students have no prior knowledge about accounting or finance, and delivers lessons and examples to build accounting skills. Specifically, this class addresses accounting terminology, revenue, expenses, net income, the accounting equation, debits, credits, and balancing the accounting formula, the accounting structure, the accounting cycle, journals, ledgers, the trial balance and more. It also guides students to learn how to read financial statements properly, and how to grab meaningful information from the balance sheet, income statements and cash flow statements.
After completing this course, you will have a solid understanding of accounting in today’s world. By applying the concepts learned in this course, you will understand the processes behind Accounts Payable and Account Receivable, you will understand how and why financial transactions are documented, you will know what cash flow is and how to improve it, you will know what profit is, how it’s interpreted, and what influences its growth. Moreover, you will know where the money in the company you work for, or own, goes. Learn accounting now and achieve a skill that is an invaluable (if not required) asset to your professional development.
Course Lessons
- Introduction to Accounting: Why accounting is a necessary skill - Accounting is the "language of business". Great managers of any organization must know accounting fundamentals and have a solid understanding of how to read financial statements.
- The Fundamentals of Accounting - Basic terms, Assets, Liabilities, Owners' Equity, Accounting Equation, Business Types, Bookkeeping, Auditing, GAAP
- The Income Statement: Understanding Revenue, Expenses, Income, and Retained Earnings - Purpose of the Income Statement; How to read the Income Statement; What are Retained Earnings, Revenue, Expenses, Net Income, Income Tax, Cash Accounting, Accrual Accounting
- Worksheet Problems: Income Statement, Revenue, Expenses, Net Income - This lesson contains workbook problems to solidify your understanding of revenue, expenses, and net income.
- The Balance Sheet - How to balance the fundamental accounting equation; Debits and Credits; "T" Accounting; Double Entry Accounting; Diagrams and Charts; Real World Example.
- Worksheet Problems for Accounting Equation, Debits & Credits - Real world examples of debits and credits and how to balance the accounting equation.
- The Accounting Structure: A Closer Look - Recording Transactions; Source Documents; General Journal; General Ledger; Trial Balance
- The Accounting Cycle - Learn all the elements of the accounting cycle, from what occurs at the beginning of the Accounting Period, to the generation of financial reports and an independent audit at the end of the Accounting Period.
- Inventory, FIFO, LIFO, Cost of Goods Sold - In this lesson we'll learn about Inventory, First-In, First-Out, Last-In, First-Out, Cost of Goods Sold, and average cost of goods sold.
- Cash Flow, Fixed Assets, Depreciation - Understanding positive and negative cash flow.
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