Free online courseFinancial Accounting

Course Description

Immerse yourself in the comprehensive world of Financial Accounting. This extensive 10-hour and 14-minute course unravels the intricate details of accounting principles, making it an essential resource for those pursuing a career in Business Administration, particularly within the Accounting subcategory. With an impressive average rating of 4.5 out of 5 stars, this course is celebrated by many for its depth and clarity.

The journey begins with a foundational overview in FA1 - Introduction to Financial Accounting. As you advance, you'll explore the rudiments of The Accounting Equation. Through illustrative examples, the instructor ensures you grasp the pivotal concepts of Assets, Liabilities, and Equity, setting a solid base for more complex topics ahead.

The course expertly navigates you through the processes of Preparing the Financial Statements and the Income Statement. You'll delve into crafting the Statement of Changes in Equity and the Balance Sheet, essential skills for any budding accountant. To further your analytical prowess, you'll also cover Financial Ratios, equipping you with the tools to assess the financial health of a business effectively.

Journal Entries are demystified as the instructor walks you through their explanations and examples. The mechanics of T-Accounts and the Trial Balance are made clear with practical illustrations. Adjusting Journal Entries, often seen as a challenging area, are tackled with multiple examples, ensuring you gain confidence and competence.

The course doesn't stop there; it takes you deeper into Preparing Detailed Financial Statements and understanding the nuances of Closing Journal Entries. A crucial aspect of accounting, Accounting for Cash, is examined thoroughly, along with Bank Reconciliation processes and related Journal Entries.

Diverse methods of handling Accounts Receivable, including the Percentage of Sales Method and the Aging of Receivables Method, are skillfully covered, alongside practical advice on Writing Off a Receivable. Inventory management, a critical component of any accounting system, is addressed from introductory concepts to specific inventory discount scenarios.

Gain insights into Merchandiser's Financial Statements, exploring both the Statement of Changes in Equity and the Balance Sheet. Master various Inventory methods such as FIFO, LIFO, and Weighted Average, each explained with clear, practical examples. The course further delves into Capital Asset Depreciation with different methods like Straight-Line, Units of Production, and Double Declining Balance.

Understanding and accounting for liabilities, warranties, and bonds, including those issued at a discount or premium, are covered comprehensively. Discover the intricacies of Shareholders' Equity with explicit problem-solving examples, and master the crucial Statement of Cash Flows using both direct and indirect methods.

The course culminates in a thorough exploration of Financial Statement Analysis, including Horizontal and Vertical Analysis. Lastly, you'll refine your skills in Financial Ratio Calculations and Analysis, providing you with a robust toolkit to tackle real-world financial challenges.

With expert guidance, this course promises to elevate your accounting knowledge, making you proficient in handling intricate financial tasks with confidence. Join the countless others who have rated this course highly and take your first step towards mastering Financial Accounting.