Financial Accounting: The Complete Introductory Crash Course
What you'll learn
- Understand the Accounting Equation and the Debit/Credit System.
- Identify All Stages of The Accounting Cycle.
- Measure, Value and Re-value Assets, Liabilities and Equity.
- Apply Financial Accounting Principles to Business Settings.
- Prepare a Cash Flow Statement.
- Develop a Basic Understanding of GAAP and IFRS Accounting Policies.
Requirements
- English
- Arithmetic
- Basic Algebra
Description
Welcome to the Financial Accounting Crash Course.
This course will provide you with 69 video lessons that span over 10 hours of content (including quizzes to help test your knowledge). Follow along as I explain the basics about assets, liabilities and equity, along with fundamental concepts like the accounting equation, debits and credits, the accounting cycle, financial statements and more!
Financial accounting is the language of business. In business, we use financial accounting to report everything we do. Whether it’s paying our employees, issuing a dividend to shareholders or purchasing a capital asset, we report it. Bookkeeping ensures that we have a history of every economic activity. Summarizing all of these transactions into financial statements provides us with a general snapshot of our performance and position in the marketplace. Having this financial information at our fingertips is key to future planning and decision making.
The first part of the crash course will cover:
Basics of Financial Accounting
Assets, Liabilities and Equity
Debits and Credits and The Double Entry Accounting System
The Accounting Cycle, including: Journal Entries, T-accounts, General Ledger, Trial Balance Statements, Adjusting Entries, Adjusted Trial Balance Statements, and Closing Entries
The second part of the crash course will cover:
Merchandise Inventory: Perpetual and Periodic Systems
Inventory Costing Systems: FIFO, Weighted-average, LIFO
Receivables and Bad Debts
Revenue Recognition
Depreciation and Amortization
Intangible Assets
The Cash Flow Statement: Indirect Method
**BONUS: Financial Accounting final exam downloadable .PDF now included at the end of the course!**
HERE'S WHAT SOME STUDENTS OF HAVE TOLD ME ABOUT MY COURSE:
"The Notepirate videos got me through Acct 101 with a 97%. I've always found your videos easy to understand and well-paced." - Alan P.
"Hello Dave, just wanted to say thank you! Your videos helped my classmates and I tremendously. We did very well. 95%, 90%, 86%, 85%. Thanks again!" - Ariel S.
"Hey Dave. I'm also reviewing in order to become a CPA. Your videos are absolutely brilliant. I have never seen the business activities presented in such a manner... but I will remember this model for a lifetime now. Thank you so much for taking the time to record these videos. You truly are making a huge difference and impact on the world. Cheers..." - Sarah B.
Who this course is for:
- College Students
- University Students
- High School Students
- Potential CPA Test Takers
- Bookkeepers
- Small Business Owners
- Accountants
- Managers
Course content
- Preview09:27
- 5 questionsWhat is Financial Accounting
- 09:28Structures of a Business
- 5 questionsStructures of a Business Quiz
- 07:38Internal vs. External Users of Accounting Information
- 3 questionsInternal vs. External Users of Accounting Information Quiz
- 09:04Business Activities: Operating, Investing and Financing
- 5 questionsBusiness Activities Quiz
- 13:01What are Financial Statements and the Types of Financial Statements
- 5 questionsWhat are the Financial Statements Quiz
- 05:28Elements of Financial Accounting
- 5 questionsElements of Financial Accounting Quiz
Instructor
![David Burrell, BComm](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.4 Instructor Rating
- 1,091 Reviews
- 7,992 Students
- 2 Courses
I worked on my Bachelor of Commerce, majoring in Accounting and Finance at Ryerson University and am currently working towards my CPA. I've run Notepirate (an accounting and finance website) for 5 years and have worked as an Accounting and Finance educator for 6 years. My videos have been used by countless CPA websites and continuing education websites like TVO's, Independent Learning Center.
Growing up in Toronto (Canada) I started my Accounting education in high school at North Toronto Collegiate. Like many of you, I struggled to master the fundamentals of Accounting which eventually lead to me being frustrated and confused. I understand this feeling (that you might be having) much too well.
During the summer I took some time to go back and re-read everything from the beginning. I focused on the fundamentals specifically, because everything you learn in Accounting is derived from them. This provided a strong foundation for me to teach Accounting because of my original confusion with the subject but also my subsequent clarity of the subject.
When I explain concepts, you're going to see that I not only provide lectures on the subject, but also provide a deep understanding of the material.
Accounting and finance has not only influenced my professional life but also my personal life. Decisions are made on a daily basis. I believe that a strong education in Accounting and Finance equips us with the know how to make sound decisions.
I look forward to working with you all.