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I’m very happy to welcome you to this course which I hope will answer your questions about accounting.
The course title is "Accounting for everyone". Obviously you can't learn all the accounting techniques in an hour -unless you get all that information uploaded into your brain. So, the objective of this course is to give you the basic instruments to help you understand financial statements. This is the first step before you are able to analyze financial statements and diagnose a problem.
The target audience for this course is entrepreneurs, accounting students, business students and anyone who wants to be a corporate banker, an investment banker or a management consultant. This course is not going to be very technical or use a very complicated jargon. It will be part of a series of courses which will help you improve your ability to diagnose corporate problems and find the appropriate remedy to them.
The lectures are presented in the form of a simple power point presentation narrated by Axile (that’s me). I will also create a Google hangout so students can ask more questions about this topic or get some advice on the banking industry. I will also add some exercises and quiz to make sure that YOU understand the different concepts.
If this is what you are looking for…enjoy the course and don’t hesitate to ask questions!
Looking forward to working with you!
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|Section 1: Introduction|
In this lecture you will learn more about:
- The course,
- The instructor,
- The target audience and,
- The goal of this course.
This will help you decide whether this course is meant for you.
This lecture is an introduction to financial statements. You will learn the basics about them. This will help you put into context every piece of the puzzle to be able to get the full picture at the end of the course. We will broadly talk about:
- Balance sheet,
- Income statement and,
- Cash flow statement.
|Section 2: Balance sheet|
In this lecture I will show you a balance sheet and we'll go through each of its components step by step. We will start with a full picture and we will dive deeper to see the way it is structured. After this lecture you should be able to:
- Know the components of a balance sheet,
- Understand the difference between an asset and a liability,
- Understand where to put each item of the balance sheet and,
- Build a balance sheet if you get enough information to do so.
Now that you know what is a balance sheet and what are its components; I will show you how a balance sheet is the true reflection of what happens in real life. I will give you information and we will build a balance sheet together step by step. This will be a preparation for the next lecture in which you will have to build a balance sheet on your own based on the information I provide you with.
In this lecture I will give you information about what happened in the real life and you'll have to translate those information into a balance sheet. Please make sure to take down notes so that you have all the information in front of you. I'll go through the solution with you in the next lecture.
In this lecture we will review the solution for the exercise 1. I will go step by step, explaining the solution in detail. This will help you understand your mistakes if any.
During this course we will talk a lot about amortization and depreciation. This lecture will emphasize on these two concepts. It is very important to understand them if you want to master the art of translating the reality into financial statements. After this lecture you'll be able to understand:
- The difference between amortization and depreciation,
- How to calculate the depreciation and the amortization,
- The impact of an amortization plan,
- The impact of a depreciation plan,
- How to pick the right depreciation plan and/or amortization plan.
|Section 3: Income statement|
In this lecture we will go through the different components of an income statement. I will explain the importance of each of them, emphasizing on the difference between what we book as revenue and what we actually get in real life. After this lecture you'll be able to:
- Understand the concept of revenue,
- Understand the calculation of the different ratios and,
- Build an income statement based on the information that you get.
In this lecture you'll get instructions to build an income statement. I really think that learning by doing is one of the best way to stay focused. So I encourage you to take down notes and to try to solve this challenge on your own before checking the solution.
In this lecture I will explain the solution of exercise 2 step by step. You will see how easy it is to build an income statement. This will help check the mistakes you've done if any and will pinpoint what you need to focus on for the next time.
|Section 4: Cash flow statement|
In this lecture we will understand why do we need a cash flow statement and what are the different sources of cash. We will also learn more about the structure of a cash flow statement and how we build one. After this lecture you'll be able to:
- Understand the difference between net revenue and cash,
- Understand the different components of a cash flow statement,
- Identify each source of cash and,
- Build a cash flow statement if you get enough information.
In this audio file you will get the instructions to build a cash flow statement. Please make sure to take down notes so that you have all the required information.
In this lecture, I'll go through the solution for exercise 3 step by step with you so that you can see how well you master the art of building a cash flow statement.
|Section 5: Conclusion|
What did you learn
In this lecture I will provide you with the solution for the quiz. This will summarize all the things that we have seen in this course. Thanks for your participation and please do not hesitate to use the forum. :)