Course Summary
Learn the fundamentals of financial accounting and how to read financial statements with this comprehensive course. Gain practical skills and knowledge to help you make informed decisions in your personal or professional life.Key Learning Points
- Understand the basics of financial accounting
- Learn how to read and interpret financial statements
- Gain practical skills to apply in real-life situations
Job Positions & Salaries of people who have taken this course might have
- Accountant
- USA: $50,000-$70,000
- India: INR 3,00,000 - INR 5,00,000
- Spain: €25,000-€35,000
- Financial Analyst
- USA: $60,000-$90,000
- India: INR 4,00,000 - INR 6,00,000
- Spain: €30,000-€45,000
- Small Business Owner
- USA: $50,000-$100,000
- India: INR 3,00,000 - INR 8,00,000
- Spain: €25,000-€50,000
Related Topics for further study
Learning Outcomes
- Understand the basics of financial accounting
- Analyze financial statements
- Apply accounting principles in real-life situations
Prerequisites or good to have knowledge before taking this course
- No prior accounting knowledge required
- Basic math skills
Course Difficulty Level
BeginnerCourse Format
- Online self-paced course
- Interactive quizzes and exercises
- Video lectures and case studies
Similar Courses
- Financial Accounting Fundamentals
- Introduction to Financial Accounting
Related Education Paths
- Certificate in Accounting from the University of Pennsylvania
- Certified Public Accountant (CPA) certification
Notable People in This Field
- David A. Dye
- Barbara Weltman
Related Books
Description
Through this course, you will start by addressing the two “big questions” of accounting: “What do I have?” and “How did I do over time?” You will see how the two key financial statements – the balance sheet and the income statement - are designed to answer these questions and then move on to consider how individual transactions aggregate to make up these financial statements. After developing a broad understanding of accounting and financial statements, you will begin to develop a more nuanced understanding of individual components of doing business, such as making a sale or building inventory. By considering many of the more common actions of a company, you will build your understanding of accounting, and explore these concepts by applying them across various types of transactions. Once you understand these individual concepts better, you will be ready to return to the overall financial statements and use them as informational tools, including building ratios.
Outline
- Why Do We Have Accounting and How Can You Make it Work for You?
- Welcome
- Why Do We Have Accounting?
- What is Accrual Accounting?
- What is a Balance Sheet?
- What is an Income Statement?
- Comparing the Two Statements
- Transactions to Financial Statements
- Journal Entries
- T-Accounts
- Using T-Accounts for Account Analysis
- The Structure of the Course
- The Syllabus
- Help us learn more about you!
- Introduction and Overview of Lesson One
- Introduction and Overview of Lesson Two
- Notice for Auditing Learners: Assignment Submission
- Transactions for quiz
- Overview Material
- Transactions and Journal Entries
- T-Accounts and Other Ways to Post
- Module One Test
- The Accounting Cycle and Bookkeeping: Foundational Tools for a Deeper Understanding
- An Overview of the Accounting Cycle
- Comprehensive Example Set Up
- Recording Externally Prompted Transactions
- Recording Adjusting Journal Entries
- Recording Closing Journal Entries
- Making an Income Statement
- Making a Balance Sheet
- Introduction and Overview of Lesson Three
- Introduction and Overview of Lesson Four
- Introduction and Overview of Lesson Five
- Introduction and Overview of Lesson Six
- Instructions for Quiz
- Transactions to be Used for the Quiz
- Quiz on Introduction to the Accounting Cycle
- Transaction Entries
- Adjusting and Closing Journal Entries
- Quiz Financial Statements
- Accounting Cycle Comprehensive Quiz
- Revenue, Accounts Receivable, Inventory and Cost of Goods Sold
- The Economics of Value Creation
- Accounting Guidance on Revenue Recognition
- Bookkeeping for Revenue Recognition
- Accounting for the Allowance for Doubtful Accounts and the Bad Debt Expense
- What goes into Inventory and Cost of Goods Sold
- Which One Did We Sell? Inventory Cost Flow Assumptions
- Bookkeeping for Inventory Transactions
- Introduction and Overview of Lesson Seven
- Introduction and Overview of Lesson Eight
- Revenue
- Allowance for Doubtful Accounts
- Inventory and Cost of Goods Sold
- Module Three Test
- Long-Lived Assets
- How Do We Think About Long Lived Assets?
- Basic Bookkeeping for Depreciation
- Changing Depreciation Estimates
- Selling an Asset
- When an Asset is used to make another Asset
- How Do We Think About Non-Physical Assets?
- Bookkeeping for Amortization and Intangibles
- What is Goodwill?
- Calculating Goodwill
- Asset Impairments
- Introduction and Overview of Lesson Nine
- Introduction and Overview of Lesson Ten
- Introduction and Overview of Lesson Eleven
- Introduction and Overview for Lesson Twelve
- Introduction and Overview of Lesson Thteen
- Basics of Depreciation
- More Advanced Depreciation Topics
- Intangible Assets
- Goodwill
- Impairments
- Quiz for Long Lived Assets
- Liabilities and Stockholders Equity
- An Overview of Liabilities
- Deferred Revenue
- What is a Contingent Liability?
- Bookkeeping for Contingent Liabilities
- The Economics of Interacting with Owners
- Basic Bookkeeping for Equity
- Treasury Stock
- Introduction and Overview Lesson Fourteen
- Introduction and Overview Lesson Fifteen
- Introduction and Overview Lesson Sixteen
- Introduction and Overview for Lesson Seventeen
- Basic Liabilities, including Deferred Revenue
- Contingent Liabilities
- Basic Equity Transactions
- Treasury Stock
- Liabilities and Stockholders Equity
- Cash Flow Statements
- Why Do We Have Cash Flow Statements?
- Putting Cash into Categories
- Direct Cash Flow Example
- What is an Indirect Cash Flow Statement
- Indirect Cash Flow Example
- Changes in Working Capital
- Indirect with Changes in Working Capital Example
- Introduction and Overview of Lesson Eighteen
- Introduction and Overview of Lesson Nineteen
- Introduction and Overview Lesson Twenty
- Introduction to Cash Flows and Direct Cash Flow Statements
- Indirect Cash Flow Statements
- Changes in Working Capital Approach
- Cash Flow Statements
- Ratios and Course End Assessment
- What is a Ratio?
- Warnings About Ratios
- Build Your Own Ratios
- Stock Over Stock
- Flow Over Flow
- Stock and Flow Ratios
- Congratulations
- Greg Miller and Gautam Kaul
- Introduction and Overview of Session Twenty One
- Introduction and Overview of Lesson Twenty Two
- Comprehensive Evaluation
- Go further
- Post-Course Survey
- Keep Learning with Michigan Online
- Introduction to Ratios
- Build Your Own Ratios
- Ratios
- Cumulative Final Exam
Greg Miller
4.8 Raiting
Xero - How to become a successful Xero Bookkeeper
- 3.5
-
![]()
![]()
![]()
![]()
![]()
Your complete guide to creating a profitable, online bookkeeping business using Xero *THE COURSE HAS BEEN UPDATED TO REFLECT THE NEW XERO NAVIGATION INTRODUCED AT THE END OF NOVEMBER 2018*...
Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital
- 4.6
-
![]()
![]()
![]()
![]()
![]()
Hi and welcome to this course! Would you like to learn about the latest valuation methods that may help you to make better business decisions?...
Project Management: Mastering Complexity
- 0.0
-
![]()
![]()
![]()
![]()
![]()
Develop the project management skills you need to handle complexity in engineering, infrastructure and other large projects. [2] The situation is exacerbated by rapidly evolving technologies and social change....
International and Cross-Cultural Negotiation
- 4.7
-
![]()
![]()
![]()
![]()
![]()
All of us are aware that cultural differences are significant and that they affect how we interact with others in business and in leisure activities....
