
Explore the basics of accounting for business owners and startups through short two to four minute lessons, enabling better product decisions and clearer communication with future funders.
Learn how to write a clear question to the instructor and navigate the overview of costs, lectures, minutes, plus using the question button for a 1–2 day reply.
Explore the purpose of accounting and how an accounting system captures a business's activities. This helps investors or lenders assess profitability over a period.
Leverage practical fundamentals of accounting for business owners, drawn from years as an auditor and investment analyst, mentoring growth and applying financial insights to venture capital funded app industry ventures.
Learn why accounting matters for your business and how debt, equity, margins, and profit shape investor conversations, giving you a practical edge for funding.
Identify the typical users of accounting statements, including bankers, shareholders, the government, and internal stakeholders. Explain how cash flows, profits, taxes, and product profitability drive financial decisions and bonuses.
Explore sole proprietorship, partnership, and corporation structures, evaluating unlimited liabilities, limited liability, managerial control, and capital-raising implications for business owners.
Define assets as future economic benefits with examples such as cash, inventory, gold mines, apps, and eps, and explain assets equal liabilities plus equity.
Define a liability as a future economic obligation to another party, with loans and bonds as common examples; borrowing increases both assets and liabilities, keeping the accounting equation balanced.
Shareholder equity is the owners' residual claim on assets, defined by assets minus liabilities, growing with profits and decreasing with losses, with lenders paid first in liquidation.
See how the income statement traces a year’s revenues and expenses from gross revenue minus cost of goods sold to net income, showing gross profit, operating profit, interest, and taxes.
See how balance sheets classify assets into current and long-term, show liabilities and shareholders’ equity, reveal financing sources, and illustrate with cash and inventory as of the date.
Learn the accruals concept: recognize revenues when earned and expenses when incurred, with examples from gym class bundles, undelivered widgets, and monthly salary accruals.
Apply the entity concept by separating personal and business cash flows and allocating 25% of rent and electricity to the business, revealing true profitability.
Learn how to record a simple transaction using the accounting equation by debiting assets and crediting equity when the owner injects cash, showing balance sheet effects.
Congratulates you on completing this mini course on accounting skills for business owners and points you to budgeting, accounting, and stock investing resources on YouTube and Facebook.
An instructor offers a free course on money management for debt and post-pandemic times, shared as a heartfelt thank you with access via Facebook.
Accounting can be a very dry and daunting subject for many. To be honest, some lecturers that teach this subject almost sound like they are speaking a different language Accounting-lish ! Even the text books can be as dry. I vividly remember having to study this subject when I was in University and it was a struggle. Luckily for me after working for a couple of years in a Big 4 and seeing the application of Accounting. It just clicked for me.
So I made it a mission of mine to give back and teach this subject to the new generation of accountants so I have created this course to help you in your accounting journey. So in this course we shall cover the following :
- Why Even Study Accounting
I think this section is extremely important to cover as it gives you a context on why you should even study this subject. Only upon knowing the why, this will enable us to gain some context on why we study this subject in the 1st place.
- The Basic Lingo - What is an Asset, Liability & Shareholder Equity
To understand a book, we need to know the words. And like accounting, to understand the statements we need to have a grasp on the accounting lingo.
- The Accounting Equation - Asset = Liability + Equity
This is the very base of accounting knowledge.