Introduction to Accounting : Mastering Financial Statements
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Introduction to Accounting : Mastering Financial Statements

In 60 mins, master fundamentals of Accounting and pick up key skills through this high impact module for all
4.3 (38 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.
1,966 students enrolled
Last updated 12/2016
English
Price: $50
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • 4 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Develop an appreciation for the Main Accounting Principles
  • Become familiar with various items that make up the Financial Statements
  • Get comfortable with Depreciation and commonly used approaches
  • Understand, interpret and prepare an Income or Profit & Loss Statement
  • Understand, interpret and prepare a Balance Sheet
  • Develop an appreciation for Debits, Credits & the Double Entry System of Accounting
  • Understand, interpret and prepare a Cash Flow Statement
View Curriculum
Requirements
  • Should have ready access to a laptop or PC
  • Should have access to high speed internet
  • Have working knowledge of Microsoft Excel
Description

Understanding Accounting and Financial Statements Analysis is a fundamental skill for anyone who aspires for a career in main stream Finance, Business and Management.

  • Is the company generating enough profits?
  • What are the main accounting principles and rules?
  • Is revenue the same as cash?
  • Is the business generating enough cash flows to be able to sustain itself?
  • How do working capital items impact cash flow?
  • How are the financial statements interconnected?

These are just some concepts that all aspiring professionals need to have a good feel for. So why should you invest your time to pick up these core skills related to Accounting & Financial Statements Analysis? The most compelling reasons are…

  • Without them it is very difficult to build a career in high growth areas of Investment Banking, Private Equity, Investment Management & Equity Research
  • Forget mainstream finance, it is difficult to have a career in any stream of business or management
  • Accounting & Financial Statements Analysis is a very stable, solid & secure skill set to have
  • Your career progression is highly likely to look like a hockey stick with these skills
  • You can only move higher up the value chain and learn financial modelling and company valuation techniques used by Wall Street and sophisticated investors, if you understand these concepts

Of course you are very busy, but to gain these skills it is important to carve out some time to fill the knowledge gaps. And when you do, be sure to invest it in SIB’s Introduction to Accounting: Mastering Financial Statements module.

  • It’s the newest course on Udemy!
  • We start by covering the basics and lay a strong foundation
  • Then will build on this foundation, to give you skills that will serve you well in your professional journey

So why should you invest in our course v/s what’s out there?

Professional HD production: All our content is professionally produced to enhance your learning experience

Practical skills: Since inception, SIB has been a pioneer in the provision of practical skills. Our aim is to deliver quality content that is easily digestible and actionable, as opposed to laying out the longest course for the sake of it

Relevance: Think of a top tier Investment Banking firm in any part of the world and our alumni are working there! This is possible only because our content hits the nail on the head. Through this module, you have access to that same high quality content

Perfect blend : This module strikes the perfect blend between theory and practice. There are exercises on Depreciation, Cost of Goods Sold, Final Accounts and preparation of a Profit and Loss statement, Balance Sheet and Cash Flow

Support: If you are not sure about a certain topic or have questions simply post a comment and we will get back to you with lightning speed (subject to holidays and different time zones)

Our course comes with Udemy’s 30 day unconditional money back guarantee. This is something that we are extremely comfortable with and are convinced that this program will provide a ton of value to you.

There are no prerequisites for this module and content has been designed such that candidates from diverse academic and professional backgrounds are able to understand and digest concepts covered. 

It is certainly not our intention to make you an expert on either US GAAP or IFRS, but provide you with a solid framework of concepts and skills that can be applied to Accounting and Financial Statement Analysis in general.

Without much ado, START LEARNING NOW!

Who is the target audience?
  • JOB SEEKERS : Bright young minds looking to break into Investment Banking, Private Equity, Equity Research and other areas of main stream finance and business. The skills you pick up here will make your job interviews a breeze
  • KNOWLEDGE SEEKERS : Absolutely anyone who would like to learn about Accounting and Financial Statements. You don't need any prior knowledge
  • INDIVIDUAL INVESTORS : Those who dabble in the stock markets and would like to learn about Fundamental Analysis (please note, this is NOT a get rich quick course)
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Curriculum For This Course
23 Lectures
01:14:18
+
WELCOME !
1 Lecture 02:54

Be introduced to SIB and have a feel for our value proposition. Get a sense of learning objectives for this program and understand why these skills are crucial for job seekers and knowledge seekers.

Preview 02:54
+
Introduction to Financial Statements & Accounting Principles
2 Lectures 07:08

Have a high level introduction and understand significance of each of the financial statements namely Income Statement or Profit and Loss, Balance Sheet and Cash Flow

Preview 02:22

Get a feel for the main accounting principles on which a company’s accounts and financial statements are prepared. These include accruals, prudence, going concern among others

Preview 04:46
+
The Balance Sheet : Its Main Building Blocks
5 Lectures 12:57

Be introduced to main items that make up Current Assets on the Balance Sheet such as Cash and Cash Equivalents, Debtors or Receivables, Prepaid Expenses, Closing Stock etc. Pick up skills that will be crucial at a later stage when you will be required to assess a company’s health by doing an analysis of it’s liquidity, gearing and solvency 

Current Assets: Cash, Debtors, Inventories etc
02:51

Be introduced to main items that make up Non Current Assets on the Balance Sheet such as Property Plant and Equipment or PP&E, Intangible Assets such as Goodwill, other Long Term Investments. 

Non Current Assets: PP&E, Intangibles & Long Term Investments
02:42

Learn about the main terms that make up Current and Non Current (or long term) Liabilities on the Balance Sheet such as trade payable or creditors, accrued expenses, short term debt, long term debt etc.  Pick up skills that will be crucial at a later stage when you will be required to assess a company’s health by doing an analysis of it’s liquiditygearing and solvency 

Current & Non Current Liabilities: Debt, Creditors, Accrued Expenses etc
03:05

Get familiar with the Equity and Capital side of the Balance Sheet by having a feel for shareholders’ equity, retained earnings, P&L reserve, share premium etc

Shareholders' Equity: Common Stock, Retained Earnings, Other Items
02:15

Go through an indicative balance sheet and get a feel for how the various components i.e assets, liabilities and capital come together

Indicative Balance Sheet
02:04
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The Income Statement (or P&L): Its Main Building Blocks
6 Lectures 20:41

Understand what is revenue aka topline or turnover. Learn about cost of goods sold or COGS and get familiar with the 2 most commonly used approaches for valuing stocks ie last in first out or LIFO and first in first out or FIFO. You will go through a simple, powerful exercise in Excel that will solidify your understanding of COGS, LIFO and FIFO

Revenue, Cost of Goods Sold (COGS), EXERCISE (LIFO, FIFO)
05:24

Become familiar with Gross Profit and understand its importance in particular for manufacturing entities. Be introduced to selling, general and admin expenses 

Gross Profit, Selling General & Admin Expenses (SG&A)
00:46

Learn about EBITDA which captures earnings before interest, tax, depreciation and amortisation. It is perhaps the most widely used metric to gauge a company’s profitability across the world of finance and business. At the same time, it is important to be careful with how one uses EBITDA

EBITDA: The Holy Grail & Slippery Slope
03:48

Learn about the very fundamental concept of depreciation that comes up very frequently in Accountancy and financial statement preparation and analysis. Go through a simple yet powerful exercise in Excel where you will get to grips with the different methods of depreciation namely  straight line, written down or reducing balance, and units of production .

Depreciation: Different Methods, EXERCISE
07:35

Learn about EBIT which is earnings before interest and tax. Be introduced to net income or earnings which (along with EBITDA) is perhaps the most widely used metric to gauge company performance and profitability. Earnings per share or EPS is derived from net income

Earnings Before Interest & Tax (EBIT), Net Income (or Earnings)
01:17

Go through an indicative income or profit and loss statement. Get a feel for how revenue along with the various items of expenses and profit metrics come together and eventually flow through to net income (or earnings).  

Indicative Income Statement
01:51
+
The Foundation: Double Entry Accounting
3 Lectures 12:38

Be introduced to the trial balance and understand it’s importance in the preparation of financial statements

Trial Balance: The Starting Point
01:23

Debits and credits for the basis of accountancy and financial statements preparation. It is crucial to have a good grip over them

Accounting Rules: Debits & Credits
00:46

This is a comprehensive exercise where you will be applying the principles of debits and credits. You will prepare a profit and loss or income statement along with a balance sheet from a given trial balance. We will hand hold you and walk you through each step. You will be on a steep learning curve here!

EXERCISE: Master Income Statement & Balance Sheet
10:29
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The Cash Flow Statement: Its Main Building Blocks
6 Lectures 18:00

Get familiar with the main items that go into preparing a cash flow such as operating cash flows or cash flow from operations, investing and financing cash flows. 

Main Terms
01:40

Understand the significance of healthy cash flows for a business. Growing revenues with aggressive accounting is not a very sustainable strategy for the long term. 

Significance: Cash is King
01:35

Be introduced to the direct method of preparing cash flow statements. It is based on cash inflows and outflows, can be difficult to manage and is not as popular as the indirect method

The Direct Method
02:05

Learn about the indirect method which is widely used for preparing cash flow statements. 

The Indirect Method: More Widely Used
01:42

Go through an indicative cash flow statement and get a feel for how the various items come together

Preview 02:17

This is a comprehensive exercise where you will prepare a cash flow statement using the indirect method. We will hand hold you and walk you through each step. You will be on a steep learning curve here!

EXERCISE: Master Cash Flows Based on the Indirect Method
08:41
About the Instructor
SIB - School of Investment Banking
4.4 Average rating
53 Reviews
1,987 Students
2 Courses

Founded in 2007 by a former banker from Lehman Brothers, SIB - School of Investment Banking is a pioneer in the provision of practical and career oriented training in the fields of Investment Banking, Private Equity & Equity Research. Team SIB comprises of former investment bankers at Lehman Brothers, Nomura, Citi and UBS

What sets us apart and makes us unique is the fact that in addition to providing cutting edge training, we leverage our deep contacts with recruiters to secure world class placement opportunities for candidates who pursue our full time training programs.

That is why SIB alumni are today pursuing their career ambitions with major recruiters such as Goldman Sachs, JP Morgan, Citi, Deutsche Bank, Bank of America, HSBC, Nomura, PwC, Ernst & Young, KPMG, Deloitte, Grant Thornton and many more spread across New York, London, Singapore, Hong Kong, Shanghai, Dubai & Mumbai.

With an average placement record of 90% since inception, we know more than a thing or two about getting your foot in the door!

We are new to Udemy and are excited about being here. In Q1 2017, we expect to launch many more online programs covering:

  • - Advanced Accounting
  • - Valuation : Trading Comparables
  • - Valuation : Transaction Comparables
  • - Valuation : Discounted Cash Flow (DCF)
  • - Financial Modeling

So stay tuned!