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Basics of financial accounting
Rating: 4.5 out of 5(117 ratings)
1,582 students

Basics of financial accounting

Accounting Corporate Finance Investments MBA Financial Analysis
Created byAleksei Gerasimenko
Last updated 4/2024
English
English [Auto],

What you'll learn

  • How to record basic business operations in a company's books
  • How Balance sheet, Income statement and Statement of cashflows look like
  • How to make a simple set of financial statements
  • What the principles of bookeeping are

Course content

1 section • 5 lectures • 43m total length

  • The basic principles of financial accounting8:02

    Explore the five major principles of financial accounting: objectivity, accrual basis, matching principle, conservatism, and reasonableness, and see how they produce objective, period-accurate financial statements, with materiality guiding judgments.

  • How business transactions are recorded in the financial accounts of a company11:54

    Record small business transactions in financial ledgers by tracking assets, debt, and equity. Apply the balance sheet equation and accrual principle to generate first financial statements.

  • Making your first financial report10:43

    Develop and interpret financial statements: income statement, balance sheet, and cash flow statement, by linking revenue, cost of sales, variable and fixed costs, and profit to cash flow.

  • Second year operations and Financial Statements9:18

    Analyze second-year operations—paying suppliers, bonuses, wages, selling inventory, and closing the business—and prepare the balance sheet, income statement, and cash flow statement, noting cash flow vs net income.

  • Debit, Credit and T-accounts3:29

    Explore the essentials of double-entry bookkeeping and t-accounts by comparing debits and credits with the balance sheet equation, including practical examples like purchasing inventory and taking a loan.

Requirements

  • No prior knowledge of accounting is required. Basic economics knowledge is desirable, but not necessary

Description

This course is made by a practitioner with 30 years of experience in accounting (Big 4) and corporate finance (Head of M&A and investments, Chief Financial Officer). I also published a number of books on the topics of accounting, financial statements analysis and corporate finance which sold more than 100 000 copies in total.

In this course you will learn the basics of financial accounting:

- Accounting principles

- Basic bookkeeping

- Making basic financial statements such as the Balance Sheet, Income Statement and the Statement of cash flows

The course has a couple of practical exercises. The first one you can do togther with the instructor. The second one you can do yourself and check the results with the sintructor video.

If you want to become…

· a Financial Analyst

· an Accountant

· an Auditor

· a Business Analyst

· a Financial Controller

· a Financial Manager

· a CFO

· a CEO

· an Investment Banker

· an Equity Research Analyst

· an Investor

· an Entrepreneur

· Someone who is involved with a business and would like to be successful

Then this course is for you. This course is just the beginning. If you like it and feel that you need to expand your knowledge of the topic, feel free to explore my other courses on the subject available on Udemy

Who this course is for:

  • Accounting students
  • People, interested in learning finance

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