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Financial Statements, Basically
Rating: 4.5 out of 5(28 ratings)
646 students

Financial Statements, Basically

Prepare financial statements through the journey of a startup
Created byHolly Zhang
Last updated 9/2024
English

What you'll learn

  • Read the balance sheet, income statement, and cash flow statement
  • Construct the balance sheet, income statement, and cash flow statement
  • Analyze business transactions and their effects on the financial statements
  • Learn the business cycle of a startup

Course content

5 sections • 24 lectures • 46m total length

  • Who am I?1:37

    This introduction video gives you information on my background and experience. I lay out the objectives of this course which are to explain and prepare the three financial statements through the story of a startup business.

  • Startup Origin Story - Why Care?1:41

    This video explains the background of the startup that we will follow in through its first three years. It discusses the importance of financial literacy.

  • Key Terms - Balance Sheet, Income Statement, Cash Flow Statement2:21

    This video briefly defines the balance sheet, income statement, and cash flow statement.

Requirements

  • No prior knowledge needed. You will learn everything you need to know.

Description

This course explains financial statements through the business cycle of a startup. It introduces the balance sheet, income statement, and cash flow statement. Videos are in bitesize chunks, ranging from 90 seconds to 7 minutes. Students will learn how to:


  • Prepare the Balance Sheet: Determine a company’s financial position through its assets, liabilities, and shareholders’ equity.

  • Prepare the Income Statement: Track the company's profitability by calculating revenues, expenses, and net income.

  • Prepare the Cash Flow Statement: Evaluate the cash inflows and outflows from operating, investing, and financing activities.

This course goes through the first three years of the startup from inception to exit. As the years go by, the financial statements become more complex to reflect the startup's growth. Topics explored in this course include:


  • Matching Principle, Revenue Recognition: Know when revenues and expenses should be recorded to accurately reflect the company's financial performance.

  • Revenue Growth: Know how revenue growth impacts financial statements year over year.

  • Line Items: Know the common line items on financial statements.

By the end of this course, students will have the skills to prepare the balance sheet, income statement, and cash flow statement. This knowledge will equip students with the practical skills needed to manage financial information in a real-world startup.

Who this course is for:

  • Aspiring entrepreneurs and business students who want to gain practical financial accounting skills

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