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2021-04-08 11:12:45
30-Day Money-Back Guarantee
Finance & Accounting Accounting & Bookkeeping Accounting

Accounting 101: Zero to Bookkeeping and Financial Statements

Bookkeeping to Financial Accounting and Financial Satements Preparation, right from the scratch. 3 courses in 1.
Rating: 4.4 out of 54.4 (2,538 ratings)
80,598 students
Created by Irfan Sharif
Last updated 4/2021
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Bookkeeping | Rules of recording transactions
  • Accounting | Accounting Concepts | Period end Adjustments
  • Financial Statements Preperation | Profit & Loss Statement | Balance Sheet
  • Depreciation | Depreciation methods | Accounting for Depreciation
  • Inventory | Inventory Valuation methods | Inventory Accounting
  • Accruals & Prepayments
  • Bad and doubtful debts

Requirements

  • No prerequisites, this course starts everything right from the scratch

Description

Accounting, Bookkeeping, and Financial Statements Preparation are three steps to achieve one main goal, keeping a track of business money and prepare reports to provide a financial summary for stakeholders.


Why you should learn Accounting:

Every single business needs to record its income and expenses, not just for internal management and control, but also for external stakeholders like government, tax authorities, investors, lenders, and even suppliers and customers. Having a good command of numbers and the idea of how cash flows are recorded and presented makes you a better professional.


Who should take this course:

  • Accounting and Finance Students

  • Business Students

  • Aspiring Accountants

  • Professionals

  • Entrepreneurs

  • Business Owners

  • Investors

  • Startup founders


Prerequisite:

This course starts from zero, no background knowledge is required to start learning in this course. Even 12 years old can also learn Bookkeeping, Accounting, and Financial Statements Preparation in this course.


Money-Back Guarantee: 

Nothing to lose! If you will not be satisfied with the course, Udemy offers 30 days money-back guarantee!


Topics Covered:


  • Introduction to Accounting

  • Why Accounting has to follow rules and what are the accounting standards?

  • What are the different types of Accounting and what information is produced by each?

  • Accounting terms

  • Cash and Accrual Accounting

  • Double-entry concept

  • Bookkeeping

  • General Ledger

  • Trial Balance and Financial Statements

  • Fixed Assets and Depreciation

  • Inventory Accounting

  • Financial Statements preparation


This built of the course is fairly easy, the format is beautifully designed interesting interactive video, the course flows from basis to Accounting to the preparation of financial statements first and then the more complex and frequently used areas of Accounting have been dealt with. This course also covers various practical concepts that are quite useful when you are maintaining your books in accounting software. In short, in the next 3 hours, you will be able to understand all the basic aspects of Accounting that you need to know to well handle your business financials. 


Introduction to the teacher:

Chartered Accountant | 12 years of work experience | 12 years of teaching experience as visiting faculty


I am a Certified Chartered Accountant (ACCA) from the UK with 12 years of professional work and teaching experience and have taught more than 4,000 students in class and 100,000+ students on Udemy!

I have implemented accounting software and ERP at various organizations and have expertise in financial transformation. I have been leading accountancy practice for small and medium-sized entities for the last 4 months and have frequent interaction with entrepreneurs. So I know what exactly do entrepreneurs need to know to well manage their books. 

Who this course is for:

  • Entrepreneurs and business owners
  • Aspiring Accountants and Bookkeepers
  • Accountants
  • Bookkeepers
  • Finance professionals seeking better understanding of Accounting concepts

Featured review

Isha Shetty
Isha Shetty
6 courses
3 reviews
Rating: 4.5 out of 59 months ago
It was a great course, very practical and relevant. I thoroughly enjoyed all the videos and had a very satisfying learning experience. I myself am from a non-commerce background and hence a complete beginner in Accounts, so i would recommend this course to anyone looking for a headstart.

Course content

12 sections • 83 lectures • 7h 38m total length

  • Preview01:32
  • Preview02:01
  • Key Terms/classes in Accounting
    5 questions
  • Preview01:29
  • Preview01:35
  • Seperate Entity Concept
    02:10
  • Understanding Dual Impact of a Transaction
    01:36
  • The Accounting Equation
    03:40

  • Preview05:20
  • Preview02:47
  • Preview03:34
  • Alternative way to understand and remember debit/credit rules
    02:00
  • Double Entry Accounting/Bookkeeping with Debit & Credits
    01:08
  • Debit & Credit Practice
    04:46
  • Journal Entry
    02:05

  • Introduction
    01:20
  • Recording Journal Entries
    05:51
  • Posting Entries to the Ledgers
    04:34
  • From ledgers to the Trial Balance
    02:57
  • Preparing Profit and Loss Statement
    03:06
  • Preparing Balance Sheet
    02:55

  • Understanding and classifing Assets
    01:19
  • Classifing Assets based on their physical substance
    01:33
  • Understanding and classifing Liabilities
    01:00
  • The Formal Balance Sheet Format
    02:45
  • Understanding and classifing Income
    01:50
  • Understanding and classifing Expenses
    01:32
  • The Formal Profit & Loss Statement Format
    02:23

  • Financial Statements
    03:57
  • Closing ledgers for the month
    06:41
  • Transferring balances to the next month ledgers
    01:13
  • Homework: End to End Accounting & Bookkeeping- November
    01:15
  • Homework Answers
    13:10

  • Introduction and key terms
    05:06
  • Recording Cash Purchase and Purchase Return
    04:49
  • Credit Purchase, payments, early payment discount, interest for late payment
    07:13
  • Example
    07:43
  • Ledger posting and preperation of reports
    07:58
  • Purchases and Payables Accounting, May 2020
    3 questions

  • Introduction and key terms
    03:12
  • Cash Sales and Sales Return
    05:07
  • Credit Sales and related transactions
    11:28
  • Example
    07:18
  • Example: Preparing Reports
    09:51
  • Important: Adjusting and Closing Entries
    11:49
  • Recording transactions - July
    04:54
  • July Adjusting and Closing Entries, Adjusted Trial Balance, P&L, and B/S
    3 questions
  • Allowance for Doubtful Debts
    04:33
  • Allowance for Doubtful Debts - Accounting entires
    10:43

  • Understanding terms: Goods, Purchases, Inventory/Stock, Cost of Sales
    05:52
  • Preview07:14
  • Inventory Valuation - Practice
    05:57
  • Inventory Valuation - Additonal Practice
    16:42
  • Inventory Valuation Quiz
    3 questions
  • Accounting for Inventory - Introduction
    05:00
  • Preview04:13
  • Preview11:57
  • Example 2: Periodic System of Inventory Accounting
    09:15
  • Perpetual System of Inventory Accounting
    08:29
  • Preview02:16

  • Preview00:51
  • Understanding Net and Gross Price
    03:44
  • Practice: Gross to Net Conversion
    02:25
  • Sales Tax Collection - Introduction
    03:09
  • Preview02:48
  • Accounting for Sales Tax on Purchases
    02:35
  • Sales Tax
    2 questions

  • Introduction to Fixed Asset and Fixed Asset Accounting
    04:28
  • Methods of Depreciation, Straight Line Method
    03:37
  • Example: Straight Line Depreciation
    05:37
  • Units of Production Method of Depreciation
    03:37
  • Preview07:55
  • Practice: Reducing Balance Method
    06:31
  • Sum of Years' Digits Method
    08:59
  • Preview04:01
  • Preview02:45
  • Accounting for purchase, depreciation and disposal of fixed assets
    03:14
  • Accounting entries - example
    10:47
  • Preview03:02
  • Accounting entries - Asset account maintained at Cost
    09:20
  • Depreciation and accounting entries - Practice
    4 questions

Instructor

Irfan Sharif
Bestselling Trainer | Chartered Accountant | PwC Alumni
Irfan Sharif
  • 4.4 Instructor Rating
  • 6,878 Reviews
  • 226,816 Students
  • 6 Courses

Experienced finance professional with practical experience of teaching accountancy and finance.  

I am Certified Chartered Accountant (ACCA-UK), with a rich experience of providing finance and accountancy services to large organizations of banking, FMCG and professional services sectors. I have worked as a Consultant at "PwC" and as Finance Manager at a FTSE 100 MNC. Now I am leading Accountancy Service of "Excelsious" where we provide Accountancy and Finance services to small and medium sized entities. 

Throughout my career I have been associated with professional education as a visiting member of faculty at prestigious professional colleges and universities for ACCA, CA and MBA. Over this time, I have helped more than 4000 students successfully achieve their aspirations and professional education goals. I am really excited about the enhanced learning experience of teaching online and sharing my knowledge and expertise with a wider audience. 

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