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Accounting 101: How to read an Accounting Balance Sheet

Accounting 101: Non-Accountants' Guide to Accounting. Learn Accounting. Get Paid More, and Get Promoted Faster!
4.4 (73 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.
2,980 students enrolled
Last updated 1/2015
$15 $200 92% off
30-Day Money-Back Guarantee
  • 2 hours on-demand video
  • 1 Supplemental Resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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Leela Krishna Says: ★★★★★

"...If you are serious about learning the RIGHT things about FINANCIAL STATEMENTS, I would strongly recommend this course. The instructor is very knowledgeable and explained the concepts with great clarity using examples for easy understanding..."


Marvin Says: ★★★★★

"...So glad I found it here. Wooaahh. Numbers not that hard anymore!!! How I wish I had seen this lecture before. More than worth a penny!!!....


Adam Says: ★★★★★

"This course makes you a finance literate! Fantastic coverage of financial statements and key aspects of financial management. Recommended."


Millions of people around the world, just like you and me are somehow involved in reading financial numbers.

Be it your business, your personal finance or your savings, understanding finance is now an essential pre-requisite for business survival and informed decision making.

Interestingly, the single biggest skill in life that could make or break your financial success is not taught in school.

Many entrepreneurs run businesses without having a clue on how to read a balance sheet. Business owners are and continue to remain dangerously ignorant of their numbers and the tax laws.

  • A recent study showed that 55% of small business owners did not review their monthly balance sheets, because they did not understand them.
  • Another survey finds that 83% of small businesses face a serious financial literacy gap.
  • The survey also found that the single reason why most small businesses didn't succeed was the lack of financial literacy skills needed to navigate the obstacles.

This course reveals exactly how you overcome these issues by following the simple steps and tips we give in this course!

There really is nothing more to do!

At the end of this course you will be able to:

  • Understand the business section of any newspaper or magazine, if you don't do so already.
  • Understand the three main financial statements, viz. Balance Sheet, Income Statement and Cash flow and how they are different from each other.
  • Read these financial reports and interpret what the numbers really mean.
  • Throw questions on your financial reports that your accountant has never been asked before!

Just follow the simple steps and tips that we reveal.

The course will continue to grow and grow with new materials, new examples and new case studies being added every week!


About this course:

  • Step-by-Step approach to reading financial statements
  • Downloadable case studies and material
  • Full lifetime access to this course and course material
  • FREE access to me by e-mail for any questions or concerns
  • Unconditional 30 day money back guarantee by Udemy

So, why are you waiting? Join me in learning how financial statements are made and what they mean!

Remember, for every minute that you are waiting, somebody else is getting ahead of you!

Who is the target audience?
  • People who know very little on accounting and finance and would like to learn more;
  • Managers or entrepreneurs and they regularly receive financial information but are not able to make sense of the numbers
  • People who have invested money in businesses or stocks and are not sure how the business is performing financially
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What Will I Learn?
By the end of this course you will understand the three financial statements, and the difference between them.
You will be able to read and understand the numbers on any annual report and/or balance sheets.
You will also be able to make preliminary assessments of whether a business is doing well or not, based on the financial statements
View Curriculum
  • Open mind and time to go through the entire course
  • You should not be shy to ask any questions/doubts on the discussion board.
Curriculum For This Course
Expand All 22 Lectures Collapse All 22 Lectures 01:45:55
7 Lectures 39:56

In this introduction lecture, we discuss the basics of this course on Financial Statements 101: How to read a Balance Sheet. We understand what account really is, and how it is different for each type of stakeholder.

What is Accounting

Financial Statements 101 - Lesson 2: Some Basic Concepts

In this lesson, we look into a few basic accounting concepts that are essential for us to understand financial statements. We look into:

1. Revenue vs Sales

2. Profit vs Income

3. Costs vs Expenses

4. Profits vs Cash

Watch this first - Some basics of finance

Financial Statements 101 - Lesson 3: Accounting Assumptions

In this brief lesson, we look at three fundamental accounting assumptions that accountants make while preparing financial statements.

Learn the 3 important assumptions that accountants make!

Financial Statements 101 - Lesson 4: Accounting Principles

In this brief lesson, we discuss five very important principles which form the basis for preparation of financial statements.

The 5 fundamental principles in finance

This quiz tests your knowledge on accounting concepts and principles

Accounting Concepts and Principles
3 questions

Financial Statements 101 - Lesson 5: Introduction to Financial Statements

In this lesson, we understand what financial statements are, why they are prepared, and how they are different from each other.

Preview 11:11

This quiz tests your knowledge on conceptual aspects of the financial statements.

Introduction to Financial Statements
4 questions

Financial Statements 101 - Lesson 6: Accounting Equation

In this lesson, we look at the accounting equation. Understanding of the accounting equation is very crucial in order to get a full picture of the financial statements. In simple terms, accounting equation states that:

Assets = Liabilities + Equity

Preview 05:05
The Balance Sheet
4 Lectures 21:46

Financial Statements 101 - Lesson 7: The Assets Side Part I

In this video, we explore the assets side and understand what assets actually mean, the components of assets, and how they are different from each other.

The Assets Side - Part I

Financial Statements 101 - Lesson 8: The Assets Side Part II

In this video, we go a bit indepth on each of the components of the assets side of the balance sheet.

The Assets Side - Part II

This quiz tests your knowledge on understanding of 'assets'

2 questions

Financial Statements 101 - Lesson 9: The Liabilities

In this lesson, we understand the liabilities side of the balance sheet, its components and how they are to be interpreted.

The Liabilities Side

This quiz tests your knowledge on liabilities side of the Balance Sheet

2 questions

Financial Statements 101 - Lesson 10: The Equity Component

In this brief video, we understand the equity component of the balance sheet.

The Equity Component
The Income Statement
2 Lectures 07:53

Financial Statements 101 - Lesson 11: Introduction to the Income Statement

In this brief lesson, we explain the basic concepts of accrual basis and cash basis of accounting. Understanding this concept is extremely essential to understand the income statement.

Introduction to the Income Statement

Financial Statements 101 - Lesson 12: The Income Statement

In this lesson, we explain the components of the income statement, and how they are different from each other.

Income Statement - Explained
The Statement of Cash Flows
2 Lectures 06:36

Financial Statements 101 - Lesson 13: Introduction to the Cash Flow Statement

In this lesson, we explain the basics of the cash flow statement, the three main activities of a business, and how they are different from each other.

Introduction to the Cash Flow Statement

Financial Statements 101 - Lesson 14: Why are profits not equal to Cash

In this lesson, we explain why profits and cash are not the same thing.

Why are profits not equal to Cash

This quiz tests your knowledge on the three types of cash flows.

Cash Flows
3 questions
How do all these link together
2 Lectures 09:43

Financial Statements 101 - Case Study

This case study covers 10 basic transactions and we explain how these transactions impact each of the three financial statements.

Case Study
1 page

Financial Statements 101 - Lesson 16: How do all these link together

In this lesson, we use the case study to understand how each transaction affects the income statement, the cash flows statement and the balance sheet.

How do all these link together - Explained
Financial Analysis Techniques
4 Lectures 17:31
Case Study - Apple Inc.

This video discusses the Trend Analysis technique for analyzing financial statements

Income Statement Analysis

This video discusses the Common Sized Analysis

Balance Sheet Analysis

This video discusses the funds flow statement

Cash Flow Analysis
1 Lecture 01:30
Conclusion and Summary
About the Instructor
4.4 Average rating
86 Reviews
3,119 Students
2 Courses
Helping you Learn.

Do you struggle to understand financial jargons? Are things like ROI, NPV, Balance Sheets giving you nightmares? Are you interested in getting secret insights into the business world?

If the answer to any of these questions is "yes", KayOne Education is dedicated to showing you how to quickly learn these, and help you to be the star performer of the year, in your company.

You will become expert in finance and management related topics from scratch, taking our courses. These will not only give you a conceptual understanding, but will also give you a practical hands on experience to make you shine out in the crowd!

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