
Explore the fundamentals of financial accounting, including the accounting equation, balance sheet, income statement, assets, liabilities, and owners equity.
Explore how sole proprietorships, partnerships, and corporations differ in ownership, liability, taxes, and accounting equations, and learn how owners' draws, salaries, and dividends affect financial statements.
Learn how debits and credits drive double-entry accounting, balancing assets, liabilities, and owner's equity through journal entries, chart of accounts, and ERP rules.
Learn how the income statement (profit and loss) shows revenues, expenses, gains, and losses to indicate net income or loss for a period under accrual accounting.
This course provides an introduction to financial accounting. Topics include an overview of financial accounting, transaction analysis, and accounting entries; double-entry accounting systems; merchandising and inventory; internal control, cash, and receivables; long-lived assets and current liabilities; financial reporting concepts and accounting for partnerships; corporations; long-term liabilities; cash flow statement; investments; and financial statements analysis. At the end of the course, you will be able to fully understand fundamentals of Financial Accounting, use of Excel in Accounting and role of modern ERP system such as SAP.