Accounting 105 - Profit & Loss Statements & Balance Sheets

Easiest Way To Create & Understand Profit & Loss Statements and The Balance Sheet - Step by Step Approach!

What you'll learn

Students will be able to create Profit & Loss Statements and The Balance Sheet
Students will be able to understand the important financial statements
Students should be able to work as Book keepers with some practice

Requirements

You should be able to use the computer at a basic level
Accounting 101 - The Principles Of Accounting
Accounting 102 - The Ledger & The Trial Balance

Description

Principles Of Accounting:

"Accounting 105 is the 5th and Last Part out of a series of Accounting Courses that are designed to help the complete beginner, go on to master the basics concepts of accounting and move on step by step to become a professional accountant!

Students can further their knowledge of key accounting concepts which they can use in their full time employment goals or even can use this series to pick up freelance jobs to earn passive income by maintaining/completing book keeping entries for others via freelance websites

The course is not just theory but also takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment.

This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead.


Course Outline:

In this course we are going to learn about the basic accounting principles of:

Calculating Sales & Net Sales

Calculating Purchases & Net Purchases

Finding the Cost of goods sold

Calculating the Gross Profit

Calculating the Net Profit

Creating the Profit & Loss Statement

Creating the Profit & Loss Statement with year end adjustment entries

Current Assets vs Non-Current Assets

Creating the Balance Sheet From Scratch

Using and building a template to create P&L Statements and the Balance Sheet

Solidify your knowledge through Practice Questions and check your answers

Having completed the entire series students of the proper age would be able to take up entry level jobs as book keepers, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.


Other Courses:

The other parts of this Accounting Series are as follows:

Accounting 102 - The Ledger & The Trial Balance

Accounting 103 - The Special Journals & The Subsidiary Ledgers

Accounting 104 - Bank Reconciliation & Correction Of Errors

Who this course is for:

Anyone looking to learn Accounting as a Beginner
Those looking to make passive income taking on freelance jobs
Those looking to grow their accounting skills & obtain higher level of understanding of accounting concepts