Principles Of Financial Accounting

Learn the complete accounting cycle -recording business transactions to presenting the Balance Sheet & Income Statement

What you'll learn

Identify the accounting principles and the role of accounting in sustainable business organizations

Measure and record balance sheet and income statement elements in organizations

Be able to get an "A" in your college or University Introductory Financial Accounting course.

Be well prepared to take a more advanced accounting course.

Be able to keep accounting records for a service company and a merchandise company.

Know how to use excel in recording business transactions.

Complete two case studies where you keep the accounting records - one for a service company and one for a merchandise company. Using excel you record journal entries, summarize in the ledger, take a trial balance, do adjusting entries and present an income statement and balance sheet for each company.

Requirements

The excel spreadsheet files will be provided.

Description

This is an introductory financial accounting course that covers all the financial accounting concepts offered in an introductory financial accounting course at university or college. Financial accounting is the process of recording, summarizing and reporting a company's business transactions through financial statements. These statements are: the income statement, the balance sheet, the cash flow statement and the statement of retained earnings.Learn and Master the Financial Accounting Process.Understand that accounting is the language of business.Know business terminology (biz speak).Understand the difference between a corporation and a single proprietorship.Know the three forms of business - service company, merchandise company and a manufacturer.Understand an Income Statement and how to prepare one.Understand a Balance Sheet and how to prepare one.Know how to analyse and record business transactionsLearn how to use debits and credits to record business transactions.Know how to use the accounting journal and ledger,Complete a set of accounting records for a service business using excel spreadsheets.Complete a set of accounting records for a merchandise company using excel spreadsheets.Understand LIFO and FIFO.Understand how to use the accounting system for Internal Control.Understand the different methods of depreciation.This is one of the best courses I have gone through. My finance knowledge has increased to large extent.  Sonalika Sood

Overview

Section 1: Overview

Lecture 1 Why take accounting?

Section 2: Module 1 A - Interactive Video Lecture & Exercises

Lecture 2 Introduction to accounting Interactive lecture

Lecture 3 Interactive exercises and problems

Section 3: Module 1 -Overview of Module 1 concepyts

Lecture 4 Financial Accounting overview

Lecture 5 Three Types of Business organizations

Lecture 6 Business Activities overview

Section 4: Assignment and quiz

Section 5: Summary of Module 1

Lecture 7 Summary

Section 6: Module 2 - Know how to present the Income Statement and Balance Sheet

Lecture 8 Lecture - Introduction to Financial Statements

Lecture 9 Test your understanding of financial statements

Lecture 10 Classified Balance Sheet

Lecture 11 Classified Balance Sheet questions

Section 7: Test Your Understanding of Financial Statement

Section 8: Module 3 - Know how to Analyze a Business Transaction

Lecture 12 Lecture 1 - Understanding Business Transactions and how to record them

Lecture 13 Excel Case - Jarvis Consulting

Section 9: Module 3 A - Interactive Exercises on Business Transactions

Lecture 14 Interactive exercises on Analyzing Business Transactions

Section 10: Activities to deepen your understanding

Section 11: Module 4 - Know how to use Debits and Credits in accounting

Lecture 15 Lecture - Debits and Credits

Section 12: Module 4 A - Interactive exercises on Recording Business Transaction

Lecture 16 Interactive exercises

Section 13: Module 5 - Know how to Journalize Business Transactions

Lecture 17 Lecture on Recording Business Transactions in the Journal

Lecture 18 Interactive lecture on Recording Business Transactions

Section 14: Module 5 - Activities to deepen your understanding

Section 15: Module 7 -Know how to Adjust the Accounts & Complete the Accounting Cycle

Lecture 19 Adjusting the Accounting Records

Section 16: Module 7 - Resources

Lecture 20 How the accountant uses the worksheet

Lecture 21 Closing the Books

Section 17: Module 7 - Activities to deepen your understanding

Section 18: Practice Set - Fraser's Golf Academy

Lecture 22 Fraser's Golf Academy

Section 19: Fraser's Golf Academy Practice set of Accounting Records

Lecture 23 Accounting Case - Fraser's Golf Academy

Lecture 24 Fraser's Excel accounting records

Section 20: Module 8 - Know some Accounting Theory

Lecture 25 Lecture - Accounting Theory

Section 21: Module 8 - Activities to deepen your understanding

Section 22: Module 9 - Know How to Record the Transactions of a Merchandiser

Lecture 26 Lecture on Recording Purchase Transactions

Lecture 27 Recording Merchandise Purchases

Lecture 28 Lecture #2- Recording Sales Transactions

Lecture 29 Recording Merchandise sales

Section 23: Module 9 - Activities to deepen your understanding

Lecture 30 Excel problem - Curtain Co

Section 24: Module 10 - Multi-step Income Statement

Lecture 31 Classified income Statement

Section 25: Activities to deepen your understanding

Section 26: Tom's Pro Golf Shop - Practice set for a merchandise co.

Lecture 32 Tom's Pro golf Shop practice set

College and university business students,Secondary school students taking a bookkeeping or accounting course in high school.,Entrepreneurs who want a good understanding of basic accounting.