Introduction to Financial Accounting

Description

Introduction to Financial Accounting

This ​course will guide you through the fundamentals of the accounting process. We will explore the layout of the balance sheet, income statement, and cash flow statement; and demonstrate how to prepare financial statements from scratch. This fundamental accounting course is an essential building block required for performing financial modelling and other types of Wall Street financial analysis

Creating a profit and loss statement and a balance sheet

We’ll look at the layout of the balance sheet and income statement, how transactions are recorded, and how to produce a simple balance sheet and income statement in the first portion of this online accounting course. You will have a strong knowledge of how to produce a balance sheet and income statement by the end of this course.

• Explain the income statement and balance sheet formats.
• Define the words used in financial statements (e.g. accounts receivable, prepayments, etc.)
• Transactions on the financial statement should be recorded (e.g. invoicing, raising equity, buying inventory, etc.)
• Make a straightforward income statement and balance sheet.

Putting out a cash flow statement

We will examine the architecture of the cash flow statement, discuss the distinctions between the cash flow statement and the income statement, and create a cash flow statement from scratch in the second half of this Intro to Accounting course. You will have a strong knowledge of how to produce a cash flow statement by the conclusion of this session.

• Outline the cash flow statement’s structure.
• What is the distinction between profit and cash?
• Using the balance sheet and income statement, create a simple cash flow statement.

Accounting Courses Information

This online accounting course contains several hands-on exercises as well as case studies. Quizzes let you evaluate what you’ve learned thus far, and advanced search and navigation options let you go at your own pace.

The course also includes two PDF reference aids – an accounting factsheet and a lexicon of financial statements – that may be utilized in the classroom or saved to your computer for future use. This is the ideal accounting crash course for anyone interested in working on Wall Street!