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Accounting 101: How to read an Accounting Balance Sheet
Rating: 4.7 out of 5(3,263 ratings)
12,934 students

Accounting 101: How to read an Accounting Balance Sheet

Accounting 101: Non-Accountants' Guide to Accounting. Learn Accounting. Get Paid More, and Get Promoted Faster!
Created byKayOne Academy
Last updated 11/2016
English

What you'll learn

  • By the end of this course you will understand the three financial statements, and the difference between them.
  • You will be able to read and understand the numbers on any annual report and/or balance sheets.
  • You will also be able to make preliminary assessments of whether a business is doing well or not, based on the financial statements

Course content

7 sections • 22 lectures • 1h 44m total length

  • Course Introduction0:52
  • What is Accounting2:28

    In this introduction lecture, we discuss the basics of this course on Financial Statements 101: How to read a Balance Sheet. We understand what account really is, and how it is different for each type of stakeholder.

  • Watch this first - Some basics of finance3:50

    Financial Statements 101 - Lesson 2: Some Basic Concepts

    In this lesson, we look into a few basic accounting concepts that are essential for us to understand financial statements. We look into:

    1. Revenue vs Sales

    2. Profit vs Income

    3. Costs vs Expenses

    4. Profits vs Cash

  • Learn the 3 important assumptions that accountants make!11:09

    Financial Statements 101 - Lesson 3: Accounting Assumptions

    In this brief lesson, we look at three fundamental accounting assumptions that accountants make while preparing financial statements.

  • The 5 fundamental principles in finance5:21

    Financial Statements 101 - Lesson 4: Accounting Principles

    In this brief lesson, we discuss five very important principles which form the basis for preparation of financial statements.

  • Accounting Concepts and Principles
  • The Secret Analogy of Financial Statements11:11

    Financial Statements 101 - Lesson 5: Introduction to Financial Statements

    In this lesson, we understand what financial statements are, why they are prepared, and how they are different from each other.

  • Introduction to Financial Statements
  • Accounting Equation: Do the numbers always add up?5:05

    Financial Statements 101 - Lesson 6: Accounting Equation

    In this lesson, we look at the accounting equation. Understanding of the accounting equation is very crucial in order to get a full picture of the financial statements. In simple terms, accounting equation states that:

    Assets = Liabilities + Equity

Requirements

  • Open mind and time to go through the entire course
  • You should not be shy to ask any questions/doubts on the discussion board.

Description

_______________________________________________________________________

Leela Krishna Says:

"...If you are serious about learning the RIGHT things about FINANCIAL STATEMENTS, I would strongly recommend this course. The instructor is very knowledgeable and explained the concepts with great clarity using examples for easy understanding..."

_______________________________________________________________________

Marvin Says:

"...So glad I found it here. Wooaahh. Numbers not that hard anymore!!! How I wish I had seen this lecture before. More than worth a penny!!!....

                              _______________________________________________________________________ 

Adam Says:

  "This course makes you a finance literate! Fantastic coverage of financial statements and key aspects of financial management. Recommended." 

                                                        ________________________________________________________________________ 

Millions of people around the world, just like you and me are somehow involved in reading financial numbers. 

Be it your business, your personal finance or your savings, understanding finance is now an essential pre-requisite for business survival and informed decision making. 

Interestingly, the single biggest skill in life that could make or break your financial success is not taught in school. 

Many entrepreneurs run businesses without having a clue on how to read a balance sheet. Business owners are and continue to remain dangerously ignorant of their numbers and the tax laws. 

  • A recent study showed that 55% of small business owners did not review their monthly balance sheets, because they did not understand them.

  • Another survey finds that 83% of small businesses face a serious financial literacy gap.

  • The survey also found that the single reason why most small businesses didn't succeed was the lack of financial literacy skills needed to navigate the obstacles.

This course reveals exactly how you overcome these issues by following the simple steps and tips we give in this course! 

There really is nothing more to do!
________________________________________________________________________

At the end of this course you will be able to: 

  • Understand the business section of any newspaper or magazine, if you don't do so already.

  • Understand the three main financial statements, viz. Balance Sheet, Income Statement and Cash flow and how they are different from each other.

  • Read these financial reports and interpret what the numbers really mean.

  • Throw questions on your financial reports that your accountant has never been asked before!

 
Just follow the simple steps and tips that we reveal.
 
The course will continue to grow and grow with new materials, new examples and new case studies being added every week!   

______________________________________________________________________ 

  About this course: 

  • Step-by-Step approach to reading financial statements

  • Downloadable case studies and material

  • Full lifetime access to this course and course material


So, why are you waiting? Join me in learning how financial statements are made and what they mean! 

Remember, for every minute that you are waiting, somebody else is getting ahead of you! 

Who this course is for:

  • People who know very little on accounting and finance and would like to learn more;
  • Managers or entrepreneurs and they regularly receive financial information but are not able to make sense of the numbers
  • People who have invested money in businesses or stocks and are not sure how the business is performing financially

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