This course will teach you the tools you'll need to understand the fundamentals of financial accounting. Concise videos, the financial records of a small business, and "your turn" activities guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows. Beyond recording transactions, you'll learn how to prepare these financial statements, and read and analyze them to draw basic conclusions about a company's financial health.
By the end of this course, you will be able to:
- Use journal entries to record transactions
- Prepare and use t-accounts to summarize transactions recorded during an accounting period
- Describe the three most commonly used financial statements and how they fit together
- Prepare these financial statements based on transactions recorded during an accounting period
- Draw basic conclusions about a company's financial health
Financial Accounting Fundamentals
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University of Virginia
Über diesen Kurs
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60,396Was Sie lernen werden
How to use journal entries to record transactions and prepare and use t-accounts to summarize transactions recorded during an accounting period
The three most commonly used financial statements and how they fit together
How to prepare these financial statements based on transactions recorded during an accounting period
How to draw basic conclusions about a company's financial health
Kompetenzen, die Sie erwerben
Financial AccountingAccountingFinancial StatementBalance Sheet
Lehrplan - Was Sie in diesem Kurs lernen werden
Woche
13 Stunden zum Abschließen
Introduction to Financial Accounting, the Financial Statements, and the Balance Sheet
During this first week, we’ll learn about the context for financial accounting, including the informational role it plays for both internal and external audiences. We’ll explain accounting standards, which ensure financial information is conveyed clearly and effectively. Finally, we’ll describe the three primary financial statements as part of a recurring accounting process, called the accounting cycle, and then dive into one of those statements: the Balance Sheet (BS).
14 Videos (Gesamt 65 min), 1 Lektüre, 2 Quiz
14 Videos
What Is Accounting?53
3 Sets of Books3m
An Informational Role for Financial Accounting2m
Accounting Standards Inside the U.S.11m
Accounting Standards Outside the U.S.5m
The Financial Statements1m
The Financial Statements: A Framework3m
The Accounting Cycle2m
The Balance Sheet5m
Assets14m
Liabilities8m
Owners' Equity1m
The Balance Sheet: A Summary2m
1 Lektüre
Course Overview10m
2 praktische Übungen
Week 1 Practice Quiz36m
Week 1 Graded Quiz36m
Woche
22 Stunden zum Abschließen
Introduction to Recording Transactions
After learning about the Balance Sheet, we’re ready to move on to using journal entries to record transactions, then t-accounts to summarize transactions recorded during an accounting period. We’ll apply those tools to record transactions for a fictional startup company, The Garden Spot, during its first year of operations (TGS Year 1). As we go along, we’ll also evaluate the effect of transactions on the balance sheet equation to ensure it remains balanced.
13 Videos (Gesamt 61 min), 2 Quiz
13 Videos
T-Accounts: A Tutorial4m
Journal Entries: A Tutorial3m
Recording Transactions: Example 15m
Recording Transactions: Example 24m
Recording Transactions: Example 36m
Recording Transactions: Your Turn10m
Introduction to TGS Year 15m
TGS Year 1: Transaction 16m
TGS Year 1: Transaction 24m
TGS Year 1: Transaction 32m
TGS Year 1: Transaction 41m
TGS Year 1: Transaction 5 and a Summary3m
2 praktische Übungen
Week 2 Practice Quiz36m
Week 2 Graded Quiz36m
Woche
32 Stunden zum Abschließen
The Income Statement, Revenue and Expense Transactions, and Adjusting Entries
Now that we’ve learned the fundamentals of recording transactions, we’re ready to dive into another financial statement: the Income Statement (IS). After learning about the Income Statement, we’ll record revenue and expense transactions, and summarize these transactions in a special account. Finally, we'll record adjusting entries in accordance with accrual accounting, prior to the preparation of the financial statements.
14 Videos (Gesamt 94 min), 2 Quiz
14 Videos
Revenues5m
Expenses9m
The Income Statement: A Summary2m
Revenue and Expense Transactions: A Tutorial11m
Recording Revenue and Expense Transactions: Your Turn7m
TGS Year 1: Transaction 67m
TGS Year 1: Transaction 72m
TGS Year 1: Transaction 84m
Adjusting Entries: A Tutorial9m
Recording Adjusting Entries: Your Turn16m
TGS Year 1: Transaction 93m
TGS Year 1: Transaction 104m
TGS Year 1: Transaction 11 and a Summary4m
2 praktische Übungen
Week 3 Practice Quiz24m
Week 3 Graded Quiz24m
Woche
43 Stunden zum Abschließen
The Statement of Cash Flows, Financial Statement Preparation
After learning about the Income Statement, revenue and expense transactions, and adjusting entries, we’re ready to move on to preparing our end-of-period financial statements. We’ll prepare the Income Statement and Balance Sheet based on the transactions that have been recorded. Then, we’ll dive into the Statement of Cash Flows (SCF) and learn how to prepare that financial statement. Finally, we’ll briefly discuss closing entries, since we've been preparing them as we've been going along!
16 Videos (Gesamt 108 min), 2 Quiz
16 Videos
TGS Year 1: Preparing the Income Statement7m
TGS Year 1: Preparing the Balance Sheet6m
TGS Year 1: Revisiting the Financial Statement Framework2m
A Managerial Approach to Recording Transactions6m
Transactions from the Viewpoint of a Manager17m
Introduction to the Statement of Cash Flows6m
Explaining the Change in Cash: A Tutorial10m
TGS Year 1: Preparing the Operating Activities Section of the Statement of Cash Flows10m
TGS Year 1: Preparing the Investing Activities Section of the Statement of Cash Flows2m
TGS Year 1: Preparing the Financing Activities Section of the Statement of Cash Flows6m
Closing Entries40
The Statement of Cash Flows: A Conceptual Understanding10m
TGS Year 1: Using the Direct Method to Prepare the Statement of Cash Flows6m
TGS Year 1: Using the Indirect Method to Prepare the Statement of Cash Flows8m
The Direct and Indirect Methods: A Summary3m
2 praktische Übungen
Week 4 Practice Quiz24m
Week 4 Graded Quiz24m
Woche
52 Stunden zum Abschließen
More Transactions, Analysis of Financial Statements, and an Annual Report
During this last week, we’ll walk through the second year of operations for our fictional startup company, The Garden Spot (TGS Year 2), for additional practice recording transactions and preparing our end-of-period financial statements. Then, we’ll do some analysis of The Garden Spot’s financial statements. Finally, we’ll take a look at PepsiCo’s Annual Report as an example of reporting for a publicly traded U.S. company.
16 Videos (Gesamt 96 min), 2 Quiz
16 Videos
TGS Year 2: Transactions 1-710m
TGS Year 2: Transactions 8-118m
TGS Year 2: Transactions 12-167m
TGS Year 2: Transactions 17-2210m
TGS Year 2: The Financial Statements8m
TGS Year 2: Preparing the Operating Activities Section of the Statement of Cash Flows12m
TGS Year 2: Preparing the Investing Activities Section of the Statement of Cash Flows1m
TGS Year 2: Preparing the Financing Activities Section of the Statement of Cash Flows4m
TGS Year 2: Revisiting the Financial Statement Framework2m
Analysis of the Income Statement6m
Analysis of the Statement of Cash Flows4m
Analysis of the Balance Sheet and a Summary5m
PepsiCo's Annual Report3m
PepsiCo's 10-K5m
Conclusion of the Course1m
2 praktische Übungen
Week 5 Practice Quiz24m
Week 5 Graded Quiz24m
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nahm einen neuen Beruf nach Abschluss dieser Kurse auf
45%
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29%
erhalten Sie eine Gehaltserhöhung oder Beförderung
Top-Bewertungen
Definitely the best online course I have taken. You get to learn a lot from this short term course and feel confident and ready to move onto more advanced topics in accounting. Highly recommended!
One of the Best course on Financial Accounting. Gives end to end hands on experience of entire Accounting Cycle. Quizzes are really engaging and require hands on working in many cases.
Dozent
Luann J. Lynch
Almand R. Coleman Professor of Business AdministrationDarden School of Business
Über University of Virginia
A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
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Wenn Sie ein Zertifikat erwerben, erhalten Sie Zugriff auf alle Kursmaterialien, einschließlich bewerteter Aufgaben. Nach Abschluss des Kurses wird Ihr elektronisches Zertifikat zu Ihrer Seite „Errungenschaften“ hinzugefügt – von dort können Sie Ihr Zertifikat ausdrucken oder es zu Ihrem LinkedIn Profil hinzufügen. Wenn Sie nur lesen und den Inhalt des Kurses anzeigen möchten, können Sie kostenlos als Gast an dem Kurs teilnehmen.
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