Financial Accounting Made Easy for All
4.2 (34 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
131 students enrolled

Financial Accounting Made Easy for All

A simple, innovative, and engaging approach to demystify the concepts of accounting
4.2 (34 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
131 students enrolled
Last updated 9/2015
English
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Current price: $12.99 Original price: $19.99 Discount: 35% off
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This course includes
  • 3.5 hours on-demand video
  • 18 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Explain the thirteen accounting principle
  • Classify assets, liabilities and owner’s investment
  • Describe the rules of debit and credit
  • Record entries in the journal book
  • Construct the T-account from journal entries
  • Construct the Trial balance
  • Construct the income statement and balance sheet with the help of the trial balance
  • Explain the impact of each transaction on the components of the balance sheet
  • Compute the net cash flows from operating, investing and financing activities
  • Explain how a transaction affects the income statement, balance sheet and cash flow statement
Requirements
  • Pre-requisite knowledge on the subject is not required
  • Audio-system is required to hear the voice
Description

The topics covered under the subject 'Financial Accounting' have been designed and developed by Knowledge Horizon with the objective of demystifying these concepts for those with no prior knowledge. This is achieved with the help of our innovative, simple and easy to understand instructional strategy. These topics will equip you with the knowledge and tools to apply them in your field and functional areas. Through innovative instructional and presentational methodologies, we have tried to simplify a quantitative, and often complicated, subject like Financial Accounting with the help of animation, hence the title Animated Business Concepts (ABC). Not only do these topics save lots of your precious time, but they provide a productive and efficient learning experience owing to the use of excellent audio-visual presentational strategies. The idea is to make the concepts simple, easily accessible and enjoyable; concepts which you can use as quick reference learning material and which will fill in any knowledge gaps on the subject of Accounting easily, allowing you to apply what you learn according to your specific requirements.

This course encompasses all the fundamentals of Accounting and builds solid knowledge on the following nine issues:

  • Accounting Principles
  • Accounting Equations
  • Journal
  • T-account & Trial Balance
  • Income Statement
  • Balance Sheet
  • Journal to Balance Sheet
  • Cash Flow Statement
  • Interrelationship between Financial Statements

The above topics are explained through videos, easy to remember job aids and ready-to-use material and assessments to confirm your understanding on the relevant subject matter.

Who this course is for:
  • This course on Financial Accounting would be of immense value to business and accounting students, teachers, entrepreneurs, business owners, managers, working professionals from any function such as Marketing, Operations, HR, Accounts, etc., and from any industry.
Course content
Expand all 86 lectures 03:45:30
+ Accounting Principles
10 lectures 20:00
GAAP
3 questions
Business Entity & Money Measurement Principles
03:04
Business Entity & Money Measurement Principles
3 questions
Revenue Recognition & Dual Aspect Principles
01:45
Revenue Recognition & Dual Aspect Principles
3 questions
Accrual & Matching Principles
03:12
Accrual & Matching Principles
3 questions
Historical Cost & Accounting Period Principles
02:40
Historical Cost & Accounting Period Principles
3 questions
Going Concern Principle
01:27
Going Concern Principle
3 questions
Consistency & Conservatism Principles
03:09
Consistency & Conservatism Principles
3 questions
Materiality & Full Disclosure Principles
02:20
Materiality & Full Disclosure Principles
3 questions
Job Aids 01: Accounting Concepts
1 page
Job Aids 02: Accounting Conventions
1 page
+ Accounting Equation
8 lectures 19:37
Components of Accounting Equation
03:59
Components of Accounting Equation
3 questions
Understanding Assets
04:15
Understanding Assets
3 questions
Deferred Revenue Expenditure
01:56
Deferred Revenue Expenditure
3 questions
Understanding Expenses
03:29
Understanding Expenses
3 questions
Liabilities and Owners Investment
03:17
Liabilities and Owners Investment
3 questions
Understanding Revenues
02:41
Understanding Revenues
3 questions
Job Aids 01: Accounting Equation
1 page
Job Aids 02: Assets, Expenses, Liabilities, Owners Investment & Revenues
1 page
+ Journal
11 lectures 29:37
Journal Entries
02:02
Debit & Credit Rules
02:50
Debit & Credit Rules
3 questions
Format of Journal
02:23
Format of Journal
3 questions
Recording of Capital & Assets in Journal
04:20
Recording of Capital & Assets in Journal
3 questions
Recording of Cash Purchases & Sales in Journal
03:49
Recording of Cash Purchases & Sales in Journal
3 questions
Recording of Liabilities & Expenses in Journal
03:51
Recording of Liabilities & Expenses in Journal
3 questions
Recording of Investments & Expenses in Journal
03:49
Recording of Investments & Expenses in Journal
3 questions
Recording of Credit Purchases & Sales in Journal
02:55
Recording of Credit Purchases & Sales in Journal
3 questions
Recording of Interest & Taxes in Journal
03:38
Recording of Interest & Taxes in Journal
3 questions
Job Aids 01: Format of Journal
1 page
Job Aids 02: Rules of Debit and Credit
1 page
+ T Account and Trial Balance
15 lectures 37:03
Introduction to ‘T’ account
02:46
Introduction to ‘T’ account
3 questions
‘T’ account for Capital & Rental Deposit
02:59
‘T’ account for Capital & Rental Deposit
3 questions
‘T’ account for Machinery & Cash
02:33
‘T’ account for Machinery & Cash
3 questions
‘T’ account for Purchase of Furniture & Goods
02:30
‘T’ account for Purchase of Furniture & Goods
3 questions
‘T’ account for Sales & Freight Inwards
02:42
‘T’ account for Sales & Freight Inwards
3 questions
‘T’ account for Car & Bank Loan
02:47
‘T’ account for Car & Bank Loan
3 questions
‘T’ account for Wages & Salaries
02:32
‘T’ account for Wages & Salaries
3 questions
‘T’ account for Fixed deposit & Rent
02:31
‘T’ account for Fixed Deposit & Rent
3 questions
‘T’ account for Electricity Bills & Prepaid Insurance
03:45
‘T’ account for Electricity Bills & Prepaid Insurance
3 questions
‘T’ account for Credit Purchases & Sales
02:38
‘T’ account for Credit Purchases & Sales
3 questions
‘T’ account for Interest
02:32
‘T’ account for Interest
3 questions
Balancing of ‘T’ account
02:24
Balancing of ‘T’ account
3 questions
Trial Balance
04:24
Trial Balance
3 questions
Job Aids 01: Format of ‘T’ Account
1 page
Job Aids 02 Format of Trial Balance
1 page
+ Income Statement
8 lectures 20:03
Format of Income Statement
04:23
Format of Income Statement
3 questions
Manufacturing and Operating Expenses – 1
03:15
Manufacturing and Operating Expenses – 1
3 questions
Manufacturing and Operating Expenses – 2
02:51
Manufacturing and Operating Expenses – 2
3 questions
Computation of Gross Profit
02:50
Computation of Gross Profit
3 questions
How to Improve Gross Profit
03:03
How to improve Gross Profit
3 questions
Computation of Net Profit
03:41
Computation of Net Profit
3 questions
Job Aids 01: Format of Income Statement
1 page
Job Aids 02: Computation of Cost of Goods Sold
1 page
+ Balance Sheet
8 lectures 11:23
Introduction to Balance Sheet
3 questions
Capital and Purchase of Assets
02:08
Capital and Purchase of Assets
3 questions
Loan, Fixed Deposit & prepaid Insurance
01:27
Loan, Fixed Deposit & prepaid Insurance
3 questions
Purchases, Sales & Drawings
01:31
Purchases, Sales & Drawings
3 questions
Profit & Dépréciation
02:29
Profit & Dépréciation
3 questions
Quick Recap on Balance sheet
01:16
Profit & Dépréciation
3 questions
Job Aids 01: Why does a Balance Sheet Always Tally
1 page
Job Aids 02: Format and Contents of Balance Sheet
1 page
+ Journal to Balance Sheet
8 lectures 20:22
The Accounting Process
02:03
The Accounting Process
3 questions
The Journal
04:22
The Journal
3 questions
The ‘T’ Account
01:44
The ‘T’ Account
3 questions
The Trial Balance
04:33
The Trial Balance
3 questions
The Income Statement
04:25
The Income Statement
3 questions
The Balance Sheet
03:15
The Balance Sheet
3 questions
Job Aids 01: The Accounting Process
1 page
Job Aids 02: Accounting Records and their Purpose
1 page
+ Cash Flow Statement
8 lectures 23:16
Operating, Investing and Financing Activities
02:19
Operating, Investing and Financing Activities
3 questions
Examples on Operating, Investing and Financing Activities – 1
3 questions
Examples of Operating, Investing and Financing Activities – 2
04:12
Examples on Operating, Investing and Financing Activities – 2
3 questions
Transactions on Cash Flow Statement – 1
04:47
Transactions on Cash Flow Statement – 1
3 questions
Transactions on Cash Flow Statement - 2
03:48
Transactions on Cash Flow Statement – 2
3 questions
Balancing of Cash Flow Statement
03:45
Balancing of Cash Flow Statement
3 questions
Job Aids 01: Operating, Investing and Financing Activities
1 page
Job Aids 02: Examples of Operating, Investing and Financing Activities
1 page
+ Interrelationship Between Financial Statements
9 lectures 24:41
Capital Investment Treatment in Financial Statements
03:23
Capital Investment Treatment in Financial Statements
3 questions
Purchase of Assets in Financial Statements
03:03
Purchase of Assets in Financial Statements
3 questions
Expenses & Incomes in Financial Statements
03:57
Expenses & Incomes in Financial Statements
3 questions
Assets and Liabilities in Financial Statements
03:12
Assets and Liabilities in Financial Statements
3 questions
Investments in Financial Statements
03:10
Investments in Financial Statements
3 questions
Credit Purchases & Credit Sales in Financial Statements
03:53
Credit Purchases & Credit Sales in Financial Statements
3 questions
Interest, Taxes & Drawings in Financial Statements
04:03
Interest, Taxes & Drawings in Financial Statements
3 questions
Job Aids 01: Financial Statements
1 page
Job Aids 02: Components of Financial Statement
1 page