How to Become an Accountant from scratch!
- 2 hours on-demand video
- 2 articles
- 15 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
Get your team access to 4,000+ top Udemy courses anytime, anywhere.
Try Udemy for Business- Record Journal Entries
- Build General Ledger, Balance Sheet, Income Statement
- Comprehend the connection between General Ledger and main financial statements
- Basic knowledge of Excel
- Basic accounting knowledge
Do you want to work in finance but do not have the time and money to enroll in an MBA? Continue reading…
Instructor Bio: "Gennaro Cuofano matured international experience for over Ten years between Europe and US. After graduating from Law School, he worked for a while in the legal field. His passion for finance and international business brought him to become an International MBA, with concentration in Corporate Finance.
Course Summary:
Did you know that when you read you just retain 10% of the information?
What is the best way to retain information then?
Numerous researches showed that when you put in practice what you just learned 75% of the information is retained in the long-term. For such reason this course has been structured around the “case study methodology." The same used in Business Schools.
If you are a newbie willing to learn the inside out of accounting in the most effective way, join “The Udemy Accounting Case Study".
You will learn:
- How to record Journal Entries
- How To build a General Ledger, Balance Sheet, Income Statement
- How all the main financial statements are intertwined
Build the foundation that will lead to a successful career in finance
A deeper understanding of the above topics will make your life much easier as financial analyst.
Content and Overview
Suitable for students who want to become financial analysts or undertake a career in finance, you will get the following benefits:
- Become extremely knowledgable about accounting, financial statements and ratio analysis.
- Build a strong theoretical and practical foundation of the discipline. This will give you an invaluable edge over your competition. Many "know-how" of things but few know "why."
- Become invaluable for your organization.
How?
- Extra Exercises and over Ten Quizzes!
- The E-Book "The Accounting Guide."
- Excel Spreadsheets to practice what you learned!
The knowledge acquired in over 10 years of experience in the financial world is distilled in few hours. Indeed, Gennaro Cuofano, your instructor, managed a team within the accounting and finance department of an Investment Firm, based in California. There, he learned how accountants communicate. Now he wants to share his knowledge with you!
In addition, together with the over ten case studies and quizzes you will learn how to build your financials using excel. Follow the learning process that will give you access to years of practical and theoretical information. Indeed, in addition to the practical material you will have free access to the theoretical course "How to become a financial analyst from scratch".
“You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language. “Unless you are willing to put in the effort to learn accounting – how to read and interpret financial statements – you really shouldn't select stocks yourself" Warren Buffet
Get ready for this exiting journey!
- The Students will gain a deeper understanding of the main financial statements and how they are connected. Eventually you will be able to build your own Income Statement and Balance Sheet from your General Ledger
- This Accounting course is meant for people with basic understanding of the subject who want to understand the implication of journal entries and how these influence the balance sheet and Income Statement
In this lecture I will show you how the case study template has been organized. For each lecture follow the same process. First, download the Practice Sheet. Second, follow the lesson and build the model in excel. Third, assess your level of understanding through the quiz
In this lecture you will learn the definition of cash and equity and how to record Case One: Udemy incorporated in 2009. Udemy Shareholders endow $100,000 on January 1st.
In this lecture you will learn the definition of current assets and how to record Case Two: On January 2nd Udemy pays $30,000 in advance for the first three months rent. Rent is fixed, at $10,000 per month. It is due on the 1st of every month. The second and third month will be paid once due.
In This Lesson you will learn the definition of Current Liabilities and how to record Case Four:
Part I. On January 5th Udemy buys the office supplies (20 printers and 20 scanners) They are purchased on account. The cost is $10,000.
Part II. On January 6th, the office supplies are paid on the account.
In This Lesson you will learn the definition of COGS and how to record Case Five:
Part I. On January 6th The first Udemy Course "How to build models in excel" has been published on the platform. The single course is worth $100; 500 students enrolled in one day trhough the platform. The revenue share is %50. Customers pay with credit cards.
Part II. The revenue generated on January 6th are deposited on Udemy's bank account on January 8th. The credit card fee is 2%.
In this lecture you will learn how to record prepaid marketing expenses on your balance sheet and solve Case Six:
On January 10th Udemy promotes its courses through another web portal.
The marketing campaign budget is $10,000. It is paid in advance and it will expire on Jan 19th.
The PPC (pay per click rate) is $3. On Jan. 19th the cost will be determined.
In this lecture you will learn the definition of unearned revenue, how to record them on your balance sheet. Eventually you will be able to reverse them and solve Case Seven:
PART I: On January 15th Udemy students pre-order two online courses on web design. The first course will come out on January 17th, worth $100, offered with a %50 discount. The second course will come out on January 18th, worth $100, offered at %25 discunt. Course n.1 is bought by 100 students. Course n.2 is bought by 200 students.
PART II: On January 17th Course N.1 has been delivered to its students.
PART III: On January 18th Course N.2 has been delivered to its students.
In this Lecture you will learn how to reverse the marketing expense paid in advance in Case Six and solve Case Eight:
Remember that On January 10th Udemy promoted its courses through another web portal. The marketing campaign budget was $10,000, paid in advance. As of January 19th, 2000 users clicked through the campaign. The PPC is $3. With the money left Udemy decides to keep it on its marketing account for future campaigns.
In this Lecture you will learn the definition of Overdraft and how to record it under your balance sheet. Case Ten will be solved in three steps:
PART I: On January 20th five new employees are hired. Udemy buys new office furniture (5 chairs and 5 desks) for a total of $6,000 and office supplies (5 printers and 5 scanners) for $2,000 . Funds on the bank account are insufficient. A bank overdaft account is automatically created.
PART II: Udemy shareholders endow 10,000 to set up a cash reserve account.
PART III: Udemy has to pay off its overdraft payable. A Fee of $200 has been assesed by the bank.
In this Lecture you will learn how to build the balance sheet and income statement starting from scratch. You will start from your General Ledger as of the end of Udemy's first month of life and from there build your financials in three simple steps. Eventually, your understanding of the financials should be much clearer. In today's world software do all for you. Therefore, having the ability to draw the financials by your own is an invaluable skill.