Do you try to avoid or procrastinate on reading your Financial Statements?
Do you feel out of control and worry about the health of your Business?
Hey, I get it!
I completely understand!
Under the pressure to stay alive — let alone grow —it’s easy for Entrepreneurs to get caught up in a never-ending cycle of daily work and avoid their Accounts and Financial Statements.
But as a Small Business Owner - let me tell you this.
The neglect of your Accounts and Financial Statements is coming at a cost.
The cost of not knowing if you are making progress.
The cost of feeling like you have a lack of control.
The cost of not running a successful business.
And, mostly - the VERY REAL possibility of running out of cash.
Now, let me also add -
The very thing that you have been avoiding in Business will produce the results you want and lead to long term change.
Because Firstly, Understanding Accounts helps you understand the health of your Business.
It reveals how your Business is doing - what works and what doesn't.
It shows what Resources you have and how well they are being utilized.
It tells you how efficiently you have been running your Business and identify areas of improvement.
Once you understand how Accounts work and how to read Financial Statements - you'll be able to use your knowledge to increase Revenues and Profits, add value to your business and build a business that really works!
You’ll understand the your Business better and take steps take to produce immediate results and long-term change.
I have spent a year to design this course and make 'Accounting' so radically simple that you will no longer have an excuse to avoid reading your Financial Statements and take positive action!
In each section, I cut through and make sense of Accounting jargon, give you practical advice on how Accounting functions in a Business and teach you how to read Financial Statements for Small and Big Firms.
By the end of this course - my promise to you is this, that you'll be able to Understand Business better and take the steps necessary to create a Successful and Profitable Business of your own for Life!
In fact, the reality is - I believe that you can't afford to not remove the time and take this course.
It's simply too important.
So, please join me and a community of over 1,470 people who have trusted this course to give them a good overview of the one of the most important aspects of Business - Their Accounts and Financial Statements.
It's important for me that I meet and exceed what your looking for. A few minutes spent in this lecture will give you an overview of this course, about me and you will see my teaching style. I hope you enjoy it! Thank you so much for your valuable time. Uday Gehani :)
Accountants need to be thoroughly familiar with the different "Forms of Business Organizations" to do their job as well as give the right advice when necessary. In this lecture, we start learning the different Forms of Business with an exploration of into Sole Proprietorships.
Life is not an Island and neither is Business. Businesses often pool the talents and resources of many people towards a common Goal - Profits, using Partnerships. In this lecture, we talk about Partnerships and their place in the business eco system, the different types of Partnerships and what are the Pros and Cons of each type of Partnership!
In today's world, Businesses form the back bone of any economy. But who creates the rules of Business? And who regulates them? Dive into this Lecture to Find Out.
Accounting has evolved over the years to meet the needs of different people. In this lecture, we talk about the different types of accounting and the audiences they cater to. Then, we go on to talk about Financial Accounting which is the main focus of this course.
Want to know the inside information into a company? What products are selling the most? Is the company really profitable or is it masking its losses with a front? We may not have access to this information as outsiders but all this information is available to Managers within the company and they can use this information to make a GOOD Company - GREAT! Find out how in this Lecture.
Don't run because you can't get away - The Tax Man will get you anyway! Companies run for a Profit. To maximize their returns, they must be careful not to pay too much in taxes, and they also should make sure they pay enough to meet all their obligations to the government. That's where Tax Accounting comes in. Watch this Lecture to find out more!
In This Lecture - Meet Joey - Our Friend from Far Far Away and Learn about Transactions and Double Entry Accounting. If Debits and Credits have sounded like an Alien Language to you - This Lecture is a Must Watch!
Everything Must Balance - Get a basic understanding of the Balance Sheet and introduction to the Accounting Equation in this Lecture. With a Name like 'The Accounting Equation' it obviously must be important in the world of accounts and this lecture should not be missed.
The Accounting Equation is the basis of the double entry system, which means each transaction has a dual effect. A transaction effects either both sides of the equation by the same amount or one side of the equation only, by increasing and decreasing it by identical amounts on the same side. In this Short Quiz - Test your understanding of the Accounting Equation.
How is the company doing? Is the Business Profitable? These answers and more can be gained by understanding the elements of this Lecture.
Companies have more then one way to make money! This Lecture introduces you to the other ways in which a Business makes (and loses) money.
Answer some Trivia about Accounts and get a feel for what has to follow.
The Chart of Accounts is a listing of all accounts that form part of a company's accounting system. It is the first thing that Accountants Set up whenever they set up a New Accounting system for a company and therefore, it forms the foundation of a company’s financial record keeping system. We go through it Step by Step in this Lecture.
Each Transaction in a Business goes through a Journey. Accountants call this Journey an Accounting Cycle. Here, we take an overview of this Journey to hopefully have a Happy Ending.
Journal Entries are the Building Blocks of accounts. Go no further without understanding them and their importance in the world of accounting - All in this Lecture!
Debits and Credits are a source of confusion to so many people who try to understand accounts - Yet their understanding is fundamental to learn how the accounting cycle functions. In this Lecture, I break down Debits and Credits into an easily understandable example. I promise you that after this lecture - You'll wonder what all the confusion was about to begin with?
Test your knowledge of Journal Entries with these questions.
If it weren't for the hard work of bookkeepers, companies wouldn't have a clue about what happens with their financial transactions? But, who are Bookkeepers and how are they different from Accountants? Find out all this and more in this lecture.
Before Modern Accounting software - Accounting used to be done on Books. Remember those! This Lecture introduces you to T accounts - Old School Methodology but still important in understanding the Functioning of the Accounting Cycle.
In this lecture, we move into the last phase of the accounting cycle. We see the use of a Trial balance and Adjusting Entries and we Finally close out the books.
This Quiz tests what we have learned about Journal Entries and the Accounting Cycle
Financial Statements reflect 'real world events' that have taken place in the life of the Business. This Lecture introduces to the different types of Financial Statements and how understanding them gives you a 'big picture' view of the Business.
An overview of the Different Types of Financial Statements.
You may have heard a lot about the Bottom Line - which is nothing but the Profits left over in the Business after deducting all the Expenses. In this Lecture, we take a look at all aspects of the Income Statement - From Top to Bottom.
In this lecture, we talk about private vs. public companies. Why as individuals can't we see the Financial Statements of our local grocery stores but the Financial Statements of Wal Mart are freely available on the Internet? This Fundamental understanding will help build a solid foundation for any accounting or finance concepts you will encounter in the future.
The real world example in this Lecture illustrates why going Public with a company is not the right choice for everyone.
There are times in our lives when we read a great book, attend a great seminar or take the perfect class. But despite our efforts, taking the theory we have learnt in class and applying it to real life can be difficult. In this lecture - we address that problem by taking the knowledge we have gained about income statements so far in the course and seeing how it applies to real life.
In this Lecture, we take the training wheels off and you get to explore all you have learned and your understanding of the Income Statement Independently.
In this article lecture, we Bookmark an article about the incomes statement to review it 7 days from now for improved retention of our newly formed skills.
Everything must Balance. Here, we take a look at the accounting Equation - The Fundamental Building Block of the Balance Sheet and see how the Balance Sheet is nothing but a representation of this Equation.
Find out what a company owes by Understanding Liabilities. If a company owes too much - It can be a sign of testing times coming up for a company the road ahead. Learn more about Liabilities and how they impact a Business in this Lecture.
Practice makes perfect, right? Going over one balance sheet isn't enough and it's important that we go through a second one so you get comfortable with the concept. This Lecture looks over the Balance sheet of Walmart to give you a better understanding of Balance Sheets.
In this Lecture, we cover Cash Vs. Accrual Accounting and why not understanding this could be devastating for a Business owner. Further, we take a deep dive into the Impact that credit has on a business and discover why it is so important to set up the RIGHT Terms of Credit when you run a Business.
This Article Lecture focuses on fundamental difference between Cash and Accrual Accounting and we understand the 3 Fundamental Rules of Accrual Accounting.
Short Quiz: It's time to test your understanding of the 3 Rules of Accrual Accounting that were introduced in the Last Article Lecture. Don't worry if it takes you a bit of time to get a grasp of the concept. Just do your best.
Start your Calculators. Ready, Set, Go!
Did you know that a Business may be Profit Rich but Cash Poor? This Lecture goes over why Profits may be misleading and 'Cash truly is King' (& Queen) of a Business.
In this Lecture, we look at the TWO METHODS used to calculate the Cash Flow from Operations - and then take a deep dive into the INDIRECT Method for calculating the Cash Flow from Operations. In my experience, people often struggle with understanding these two methods and it is my goal that you NEVER have to go through that especially after watching the simple and easy to follow explanations in this Lecture.
In this Lecture, we continue where we left off with the 2nd Way to calculate the Cash Flow from Operations - The DIRECT METHOD. We also talk about how important a positive Cash Flow from Operations is for the overall health of the Business.
The Cash Flow from Operations is an integral part of a company and a 'key number' to watch when analyzing Financial Statements. Learn all about it and more with the real life example of Walmart in this lecture.
Need a crystal ball to predict the companies future? While it may be hard to get hold of a Crystal Ball - Through this Lecture, we could start with learning about the Cash Flow from Investing and get an insight into the Future Direction Management wants to take the Company in.
Company's need to keep purchasing resources and long term assets to ensure that they keep growing well into the future. In this lecture, we analyze the Real Life Cash Flow from Investing Section of Walmart which gives us insights into Walmart's Long Term strategy.
There are primarily two ways in which a Business raises money. Form the Owners (Equity) or from Outsiders (Debt). The Cash Flow from Financing is a category that monitors the cash flow from these two components and we go over it in detail on this lecture
There are two ways in which companies raise Finance. They are 1. Debt & 2. Equity. The Cash Flow from Financing highlights the effect on Company Cash balances based on how the company has decided to raise money. It is also the part of Accounts where the world of Finance clearly intermingles. In this lecture, we analyze the Real Life Cash Flow from Finance Section of Walmart to learn more.
It's time to put on your Boxing gloves and take on the Cash Flow Statement. Make sure you don't have any glasses on because the Cash Flow Statement packs a punch.
Ironically, many times taking more room than the Financial Statements themselves - Find out what Notes are all about in this Lecture.
All good things must come to an end. Let's take all we have learned from this course and test our knowledge one Final Time. Good Luck!
Personally, I hate Goodbyes! But I know all good things must come to an end. But - Instead of a Goodbye - I'd just like to say. Thank you for taking this Journey with me. I'll see you later.
I began my career as a Financial Analyst at a New York Bank analyzing the Financial Statements for Small and Medium Enterprises for 10 years which made me understand and enhance all my Accounting and Finance concepts. This Knowledge later enabled me to create a concrete business plan and successfully start and run two profitable businesses since then - All in a span of 4 years. Having my fundamentals of Accounting, Finance and Entrepreneurship clear has had a big impact on my life and I am passionate about teaching what I have learnt to others.