Accounting in 40 Minutes - Beginner to Intermediate

Learn Finance & Accounting from Scratch and Build Understanding of Accounting and Get into Financial Analyst
Free tutorial
Rating: 4.0 out of 5 (235 ratings)
4,330 students
40min of on-demand video
English
English [Auto]

You will learn accounting principles and concepts
You will learn classification and types of accounting
You will get to know about accounting equations
You will learn double entry, Tabular Summary, Financial Statement Balance sheet and income statement
Difference between Financial and Managerial Accounting
You will learn transaction techniques, ledger and T-accounts
You will learn accounting cycle and adjusting entries
You will learn about closing entries, Real and Nominal accounts
You will learn to create trial balance and much more

Requirements

  • There are no prerequisites for this course

Description

Learn the basics to intermediate of financial accounting in less than an hour!

The worldview of accounting and accountants may certainly involve some unhelpful characters poring over formidable figures stacked up in indecipherable columns.

However, a short and sweet description of accounting does exist:

Accounting is the language of business efficiently communicated by well-organised and honest professionals called accountants.

A more academic definition of accounting is given by the American Accounting Association:

The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information.

The American Institute of Certified Public Accountants defines accounting as:

The art of recording, classifying, summarizing in a significant manner and in terms of money, transactions and events which are, in part at least of financial character, and interpreting the results thereof.

Accounting not only records financial transactions and conveys the financial position of a business enterprise; it also analyses and reports the information in documents called “financial statements.”

Recording every financial transaction is important to a business organisation and its creditors and investors. Accounting uses a formalized and regulated system that follows standardized principles and procedures.

The job of accounting is done by professionals who have educational degrees acquired after years of study. While a small business may have an accountant or a bookkeeper to record money transactions, a large corporation has an accounts department, which supplies information to:

  • Managers who guide the company.

  • Investors who want to know how the business is doing.

  • Analysts and brokerage firms dealing with the company’s stock.

  • The government, which decides how much tax should be collected from the company.

Principle of Accounting can also refer to the basic or fundamental principles of accounting: cost principle, matching principle, full disclosure principle, revenue recognition principle, going concern assumption, economic entity assumption, and so on.


Who this course is for:

  • Anyone interested or wants to understand how accounting works
  • Any business man or student
  • Anyone interested in how finance works

Instructor

Where Future Begins
NeomX Solutions
  • 4.0 Instructor Rating
  • 235 Reviews
  • 15,444 Students
  • 1 Course

NeomX is a digital marketing company which helps people to facilitate in promoting their brands. They help people to grow their talent and promote them in a way to become a leader in their domain.

Top companies trust Udemy

Get your team access to Udemy's top 16,000+ courses