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
TGS Year 1: Transaction 8
Kompetenzen, die Sie erwerben
Financial Accounting, Accounting, Financial Statement, Balance Sheet
Bewertungen
YY
Jan 24, 2019
This course gives me a practical understanding of accounting principles and key financial statements, which is helpful for my work. Strongly recommend to my friends and colleagues
LM
Apr 13, 2018
Really enjoyed the course - was really dreading learning about accounting but the instructor was able to break it down and make it both fun and interesting for me to learn!
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.
Unterrichtet von
Luann J. Lynch
Almand R. Coleman Professor of Business Administration