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Financial Accounting, its Cycle, Statements & Analysis

An Ultimate Practical & Simple Guide to Financial Accounting for students & entrepreneurs
3.5 (3 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
853 students enrolled
Created by Sajid Haider
Last updated 8/2016
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  • 5 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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The course is about some very important and basic topics of financial accounting. The most important function of financial accounting is to prepare statements and reports that depict the financial and performance positions of a company. For that purpose statements such as income statement, balance sheet and statement of cash flow are prepared. I have very simply explained the procedures and steps to prepare such reports. The course also includes transactions related to a business that include discounts allowed. Cash-based and accrual-based accounting have been clearly differentiated. The most important transactions and their treatment such as those related to expenses, cost of goods sold and revenues have also been discussed. Each important topic not only includes theoretical presentation but practical examples have been included so that the concepts of students are cleared. The whole accounting cycle has been classified into steps so that students can easily pick up the basic concepts and procedures of financial accounting.

Students who want to learn accounting cycle which leads to financial statements will find this course very helpful and simple to understand. The course has been divided into topics and then further into sections.

I expect students to take this course as it has been prepared so that students as well as entrepreneurs can easily pick up not only the concepts of theoretical accounting but use them practically also.

Who is the target audience?
  • This course is meant for anyone who is interested in learning financial accounting and for someone who wants to excel in the field of theoretical or practical accounting such as working in a finance or accounting position in a company.
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What Will I Learn?
Have a firm grip on accounting concepts, procedures, steps, and preparing financial reports and statements
View Curriculum
  • Anyone can join the course. No specific requirements are there. Potential students should just know basic maths, economics or finance.
Curriculum For This Course
Expand All 35 Lectures Collapse All 35 Lectures 05:08:15
6 Lectures 50:35

An introduction to Accounting
5 questions

Types of Accounting
5 questions

Purpose of financial accounting

Purpose of financial accounting
5 questions

Meaning of the term, "Account"

Meaning of the term accounting
5 questions

Introduction to computerized accounting
5 questions
Concepts in Accounting
9 Lectures 01:03:04

Accrual and Cash methods of Accounting
5 questions

Double Entry System of Accounting
10 questions

The Accounting Equation
10 questions

Asset & its debit credit rule

Asset & its debit credit rule
10 questions

Revenue & its debit credit rule

Revenue & its debit credit rule
10 questions

Expense & its debit credit rule
10 questions

Liability & its debit credit rule

Liability & its debit credit rule
10 questions

Equity or Capital & its debit credit rule

Introduction to The Accounting Cycle
The Accounting Cycle Practice Session
20 Lectures 03:14:36
Step-1 Identification & Analysis of transactions

Identification & Analysis of Transactions
10 questions

Step-2 Making entries in Journal video 1

Step-2 Making entries in journal video 3

Step-3 Posting to Ledger (T-Account) video 1

Step-3 Posting to Ledger (T-Account) video 2

Step-3 Posting to Ledger (T-Account) video 3

Step-3 Posting to Ledger (T-Account) video 5

Step-5 Passing Adjustment Entries

Step-6 Creating Adjusted Trial Balance video 1

Step-6 Creating Adjusted Trial Balance video 2

Step-7 Preparing Income Statement video 2

Step-7 Preparing Balance Sheet

Step-7 Introduction to the Statement of Cash flow

Step-7 Preparing Statement of Cash Flow

Step-7 Intro. to the Statement of Changes in equity

About the Instructor
3.5 Average rating
3 Reviews
853 Students
1 Course

My name is Sajid Khan. I am an MS in accounting and I have also done B.COM in accounting & finance. I intend to join Phd in accounting. I am also a CA (chartered accountant)  and CMA (certified management accountant). I am basically a professional accountant with a few years of experience but I have also been teaching accounting and related subjects and accounting software such as Quick Books and Tally 9 for the last 4 years. Online teaching is a new area for me and if my first two or three courses are somewhat successful, i will then create many courses related to advanced financial and cost/management accounting and courses related to computerized accounting such as Quick Books, SAP, Oracle etc. 

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