Introduction to Financial Accounting

This free introduction to accounting course provides a comprehensive overview of the fundamental accounting process. Learn the essential building blocks for financial modeling and Wall Street financial analysis. This fundamental accounting course is perfect for beginners and those looking to solidify their financial literacy.

Constructing Financial Statements: Balance Sheet, Income Statement & Cash Flow Statement

This course guides you step-by-step through creating key financial statements. You'll learn how to prepare a balance sheet, income statement, and cash flow statement from scratch.

• Balance Sheet & Income Statement Construction: In the first section, you'll delve into the layout of the balance sheet and income statement. Understand how business transactions are recorded and learn to prepare simple versions of these critical financial reports. You'll gain a solid understanding of how to construct a balance sheet and income statement.
• Financial Statement Terminology: We'll define key financial statement terms, including accounts receivable, prepayments, and more.
• Recording Financial Transactions: Learn to record common business transactions like invoicing, raising equity, and buying inventory.
• Format & Differences: Understand the format of both the income statement and balance sheet, and the crucial difference between profit and cash flow.
• Cash Flow Statement Creation: The second section focuses on the cash flow statement. We'll explore its layout and how it differs from the income statement. You'll learn to prepare a cash flow statement using information from the balance sheet and income statement.

More Accounting Course Details

This online accounting course is designed for effective learning with a variety of applied exercises and case studies. Navigate at your own pace using sophisticated search and navigation tools. Regular quizzes help you assess your understanding.

Resources Included:

• PDF Reference Guides: Access two valuable PDF guides: an accounting factsheet and a financial statements glossary. Download these resources for future reference.

Prepare for a career on Wall Street with this ultimate accounting crash course!