Financial Accounting For Beginners (Finac101)

Learn Accounting in the simplest way. 101 to advanced level.

What you'll learn

Learn concepts relating to income statements such as fiscal year and calendar year, the format of the income statement, profit margin calculations

Learn non-recurring items, changes in accounting estimates, and methods of revenue recognition.

Learn balance sheet and its various components such as current assets, current liabilities long-term assets, long-term liabilities, and shareholder’s equity.

Learners will also gain knowledge about the preparation of cash flow statements using direct and indirect methods, along with practical examples.

Requirements

Numerical Abilities: To take any of the above Courses, one has to have basic Mathematical Skills and should be good in numbers.

Willingness to make a career in Accounting: The Candidate who is looking out to make a career in the Accounting in future should take up this Online Accounting Course as it will enable him to lay a Strong Foundation right from the beginning of his College Days.

Quantitative Skills: These skills are very much required in this Online Accounting Course since the Candidate will work heavily on large Databases and Numbers and Mathematical Skills will play a crucial role in the Course Study.

Description

The training is specially designed to meet the learning desires of those who connected with the accounting field. The course is a detailed one that will take you through various accounting concepts that will help you with practical application in real life. The course is aimed to provide the learners with essential concepts of accounting domains such as financial accounting, accounting standards, cost accounting, and other relevant concepts. At the end of the course, learners will be well equipped with knowledge regarding important accounting concepts.The training will commence with a lecture on the introduction to financial accounting.A session will be run to explain concepts relating to income statements such as fiscal year and calendar year, the format of the income statement, profit margin calculations, non-recurring items, changes in accounting estimates, and methods of revenue recognition.An understanding will be developed on the preparation of balance sheet and its various components such as current assets, current liabilities long-term assets, long-term liabilities, and shareholder’s equity.Learners will also gain knowledge about the preparation of cash flow statements using direct and indirect methods, along with practical examples.It refers to the recording the Day to day Business transactions in the Books of Accounts and preparing the Financial Statements at the year-end.In simple terms, Accounting refers to record-keeping of all the financial transactions of the Business daily to run the Business Smoothly.It means Book-keeping of all the financial and Non-Financial Activities of the Business i.e it’s the process of Summarizing, recording, analyzing the Transactions.It can be divided into Management Accounting, Financial Accounting, Cost Accounting.Every Company has an Accounts department to take care of the Financial Transactions of the Business and to provide with the latest Reports on the Performance to the Management.In recent times, there has been a change in the Accounting Standards that need to be followed globally i.e Every Company should prepare its Financial Statements as per IFRS only so that all are comparable to each other.Generally, a CPA is appointed by Companies to take care of the Accounting Activities of the Company.

Overview

Section 1: Accounting - The Foundation

Lecture 1 An Introduction To Financial Accounting

Lecture 2 Purpose Of Financial Statements

Lecture 3 Explaining A Business Cycle

Lecture 4 Accounting For Income Statement

Lecture 5 Accounting For Balance Sheet -1

Lecture 6 Accounting For Balance Sheet -2

Lecture 7 Accounting For Balance Sheet - 3

Lecture 8 Accounting For Cash Flows

Lecture 9 Conclusion

Section 2: Accounting:01 - Income Statement

Lecture 10 Financial Statements - Fiscal Year Vs Calendar Year

Lecture 11 Income Statement Format

Lecture 12 Calculating Profit Margins

Lecture 13 Non Recurring Items

Lecture 14 Changes In Accounting Estimates

Lecture 15 Final Remarks

Lecture 16 Revenue Recognition - Percentage Completion & Completed Contract

Lecture 17 Revenue Recognition - Installment Method & Cost Recovery

Lecture 18 Depreciation Expense

Lecture 19 Downloading Colgates Income Statement

Lecture 20 Analyst Format Of Colgates Income Statement

Lecture 21 Formatting The Income Statement

Lecture 22 Investigating The Non-Recurring Charges

Lecture 23 Seperating Non-Recurring Items

Lecture 24 Comparision Of Margins - Before And After Adjustments

Section 3: Accounting:02 - Balance Sheet

Lecture 25 Introduction To Balance Sheet

Lecture 26 Introduction To Current Assets

Lecture 27 Cash And Cash Equivalents

Lecture 28 Cash And Cash Equivalents - Colgate PandG Microsoft

Lecture 29 Accounts Receivables

Lecture 30 Accounts Receivables Case Study

Lecture 31 Inventory

Lecture 32 Inventory - Case Study

Lecture 33 Inventory - Lcm

Lecture 34 Inventory - Colgate

Lecture 35 Inventory Valuations

Lecture 36 Inventory Valuation - Recap

Lecture 37 Prepaid Expenses

Lecture 38 Other Current Assets - Colgate

Lecture 39 Financial Reporting Standards

Lecture 40 Current Liabilities

Lecture 41 Current Liabilities - Colgate

Lecture 42 Long Term Assets

Lecture 43 Introduction To Goodwill

Lecture 44 Pooling Method Of Accounting

Lecture 45 Purchase Method Of Accounting

Lecture 46 Goodwill Impairment

Lecture 47 Long Term Investments Part 1

Lecture 48 Long Term Investments Continued

Lecture 49 Long Term Investments - Example

Lecture 50 Long Term Liabilities

Lecture 51 Long Term Liabilities - Risk Profile

Lecture 52 Introduction To Shareholde'S Equity

Lecture 53 Common Stock - Par Value And Apic

Lecture 54 Treasury Stock Or Shares

Lecture 55 Retained Earnings & Dividends

Lecture 56 Additional Other Comprehensive Income

Lecture 57 Introduction To Preference Shares

Lecture 58 Macdonald'S Shareholder'S Equity

Lecture 59 Dividends - Types

Lecture 60 Cash And Property Dividend - Example

Lecture 61 Stock Dividends

Lecture 62 Small & Large Stock Dividends - Example

Lecture 63 Stock Split

Section 4: EPS - The Concepts Of Earnings Per Share

Lecture 64 Introduction To Eps

Lecture 65 Basic Eps Example

Lecture 66 Calculating Weighted Average Shares

Lecture 67 Effect Of Stock Dividends And Stock Splits

Lecture 68 Simple Vs Complex Structures

Lecture 69 Preferred Convertible Shares Dilution

Lecture 70 Preferred Convertible Shares Dilution - Example

Lecture 71 Anti-Dilutive Preferred Convertible Shares

Lecture 72 Convertible Debt Dilution

Lecture 73 Convertible Debt Dilution - Example

Lecture 74 Anti-Dilutive Convertible Debt

Lecture 75 Stock Options

Lecture 76 Treasury Stock Method

Lecture 77 Stock Option Dilution - Example

Lecture 78 Comprehensive Example

Students: It refers to the Undergraduates or Graduates who have just joined College and willing to start a career in Accountancy. Since many Students take up Commerce after School is over, these will be the right audience for this Online Accounting Training.,Professional Accountants: It refers to the CA’s, CS, MBA who are already working in a Corporate and are willing to enhance their Accounting skills further. These are the ones who want to update themselves about different types of Accounting and are willing to learn about Complex Accounting Treatment as per the Newly launched IFRS.,Anyone willing to learn about Accounts: It refers to those who are from Non-Finance background and are willing to learn the Accounting Concepts and its applications in the practical world.