Duration of the online course: 10 hours and 14 minutes
4.48
(110)
Financial accounting is the language businesses use to explain what they own, what they owe, and how well they performed over a period. This free online course helps you understand that language from the ground up, so you can follow the story behind the numbers and make sense of real-world reports. Whether you want to sharpen your business fundamentals, support a growing company, or feel more confident reading financial information, you will gain practical skills that translate directly to the workplace.
You will start by building a clear mental model of assets, liabilities, and equity, then connect those ideas to the accounting equation. From there, you will learn how financial statements are prepared and how they work together, including the income statement, balance sheet, and the statement of changes in equity. Along the way, you will practice interpreting what each statement is designed to communicate and why timing and dates matter when presenting financial positions and results.
The course also focuses on the mechanics that make reporting reliable. You will learn how journal entries capture business events, how posting to T-accounts helps organize and check the flow of transactions, and why a trial balance is used to support accuracy. You will then work through the role of adjusting entries so financial statements reflect the correct period, including common scenarios like prepayments, accruals, and supplies usage. You will see how the adjusted trial balance supports the final reporting process and how closing entries reset temporary accounts for a new fiscal year.
To round out your skills, you will apply financial ratios to evaluate liquidity and basic financial health, and you will explore cash-focused topics such as bank reconciliation and error correction. Exercises throughout the course reinforce concepts in a hands-on way, helping you move from memorizing terms to understanding how accounting decisions affect reports and analysis. By the end, you will be able to trace the path from transaction to statement, explain what key figures mean, and use accounting information to support better business conversations and decisions.
Video class: FA1 - Introduction to Financial Accounting
18m
Exercise: _What is the definition of assets in financial accounting?
Video class: FA2 - The Accounting Equation EXAMPLE
04m
Exercise: What is the missing liabilities amount for Business Two?
Video class: FA3 - Understanding Assets, Liabilities and Equity
08m
Exercise: _What is the account type of "long term investments"?
Video class: FA4 - Preparing the Financial Statements
07m
Exercise: What is the primary purpose of an income statement?
Video class: FA5 - Preparing the Income Statement
12m
Exercise: _What type of account is wages payable and is it current or long-term?
Video class: FA6 - Preparing the Statement of Changes in Equity
06m
Exercise: Understanding Statement of Changes in Equity
Video class: FA7 - Preparing The Balance Sheet
13m
Exercise: _What is the purpose of dating the balance sheet with a specific date instead of saying "for the year-end"?
Video class: FA8 - Financial Ratios
12m
Exercise: What is considered a safe current ratio?
Video class: FA9 - Journal Entries Explained
18m
Exercise: _What is the reason why understanding journal entries is crucial in financial accounting courses?
Video class: FA10 - Journal Entries Example
23m
Exercise: What is the correct entry for the initial investment in a company?
Video class: FA11 - T-Accounts Explained
10m
Exercise: _What is the purpose of posting journal entries into T accounts?
Video class: FA12 - The Trial Balance Example
06m
Exercise: What is the primary purpose of preparing a trial balance?
Video class: FA13 - Adjusting Journal Entries Explained
04m
Exercise: _What is the purpose of adjusting journal entries in financial accounting?
Video class: FA14 - Adjusting Journal Entries EXAMPLES
32m
Exercise: How do prepaids become an expense?
Video class: FA15 - Adjusting Journal Entries - MORE EXAMPLES
17m
Exercise: What is the amount of Supplies Expense recorded on June 30th?
Video class: FA16 - Adjusted Trial Balance
09m
Exercise: What is the purpose of creating an adjusted trial balance?
Video class: FA17 - Preparing Detailed Financial Statements
17m
Exercise: _What is the net income of Net Lock Security for the year ended June 30, 2024?
Video class: FA18 - Closing Journal Entries EXPLAINED
09m
Exercise: What is a closing journal entry meant to do at the end of a fiscal year?
Video class: FA19 - Accounting for Cash
08m
Exercise: _What was the author's job at the bank?
Video class: FA20 - Bank Reconciliation Example
18m
Exercise: What amount should be added to correct the error in the cash account due to the bookkeeper's mistake?
10 hours and 14 minutes of online video course
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Course comments: Financial Accounting
Students praised the free course as comprehensive, clear, and easy to understand, with useful accounting/bookkeeping content and strong explanations. Many found the professor knowledgeable and enjoyable to listen to.
Constanta-Alina Fernandes
Excellent comprehensive financial accounting course with extensive explanations. I searched for a free professional bookkeeping course for years.
Mpho Ngobeni
I really loved the course, the facilitator is very knowledgeable and easy to listen to.
Reshma kazi
simple and easy explanation to understand.
Vincent Kachimanga
a very good tutorial... very easy to understand thanks for the lessons
Arshad Ali
Such a wonderful course about accounting
Desmond fidelis Obinna chukuwdi
it's a very good tutorial and very much understanding
Kamrul Huda
That is a wonderful course
Floyd Mabaso
great course content
Unathi Hlalatu
I enjoyed the course, great stuff
Joseph Kobilo
Good information