Free Accounting Tutorial - Introduction to Financial Accounting faq

star-rating
4.5
learnersLearners: 22,900
instructor Instructor: / instructor-icon
duration Duration: duration-icon

This free accounting tutorial is an introduction to financial accounting. It covers topics such as the income statement and balance sheet formats, definitions of words used in financial statements, recording transactions, creating an income statement and balance sheet, outlining the cash flow statement's format, and the difference between profit and cash. This course is perfect for those looking to learn the basics of financial accounting and gain a better understanding of the subject.

ADVERTISEMENT

Course Feature Course Overview Course Provider Discussion and Reviews
Go to class

Course Feature

costCost:

Free

providerProvider:

Udemy

certificateCertificate:

No Information

languageLanguage:

English

start dateStart Date:

Self Paced

Course Overview

❗The content presented here is sourced directly from Udemy platform. For comprehensive course details, including enrollment information, simply click on the 'Go to class' link on our website.

Updated in [May 25th, 2023]

This free accounting tutorial provides an introduction to financial accounting. Learners will gain an understanding of the income statement and balance sheet formats, as well as the words used in financial statements such as accounts receivable, prepayments, etc. They will learn how to record transactions on the financial statement, such as invoicing, raising equity, and buying inventory. Additionally, learners will be able to make a straightforward income statement and balance sheet, as well as outline the cash flow statement's format. Finally, learners will gain an understanding of the difference between profit and cash.

[Applications]
After completing this course, participants should be able to apply their knowledge to create financial statements, record transactions, and understand the differences between profit and cash. They should also be able to explain the income statement and balance sheet formats, define the words used in financial statements, and outline the cash flow statement's format. Additionally, they should be able to make a straightforward income statement and balance sheet.

[Career Paths]
1. Accountant: Accountants are responsible for preparing and analyzing financial statements, ensuring accuracy and compliance with applicable laws and regulations. They also provide advice on tax planning and budgeting. As the economy continues to grow, the demand for accountants is expected to increase.

2. Financial Analyst: Financial analysts provide advice and guidance to businesses and individuals on investments, financial planning, and budgeting. They analyze financial data to identify trends and make recommendations on how to maximize profits and minimize risks. With the increasing complexity of the global economy, the demand for financial analysts is expected to grow.

3. Financial Manager: Financial managers are responsible for managing the financial resources of an organization. They develop and implement strategies to maximize profits and minimize risks. They also oversee the preparation of financial statements and ensure compliance with applicable laws and regulations. As the economy continues to grow, the demand for financial managers is expected to increase.

4. Tax Accountant: Tax accountants are responsible for preparing and filing tax returns for individuals and businesses. They also provide advice on tax planning and compliance with applicable laws and regulations. With the increasing complexity of the tax code, the demand for tax accountants is expected to grow.

[Education Paths]
1. Bachelor of Accounting: This degree program provides students with a comprehensive understanding of accounting principles and practices. Students learn how to analyze financial statements, prepare financial reports, and use accounting software. Additionally, they gain an understanding of taxation, auditing, and financial management. This degree is becoming increasingly popular as businesses become more reliant on accurate financial data.

2. Master of Science in Accounting: This degree program provides students with an advanced understanding of accounting principles and practices. Students learn how to analyze complex financial statements, prepare detailed financial reports, and use sophisticated accounting software. Additionally, they gain an understanding of taxation, auditing, and financial management. This degree is becoming increasingly popular as businesses become more reliant on accurate financial data.

3. Master of Business Administration (MBA) with a Concentration in Accounting: This degree program provides students with a comprehensive understanding of business principles and practices. Students learn how to analyze financial statements, prepare financial reports, and use accounting software. Additionally, they gain an understanding of taxation, auditing, and financial management. This degree is becoming increasingly popular as businesses become more reliant on accurate financial data.

4. Certified Public Accountant (CPA): This certification program provides students with a comprehensive understanding of accounting principles and practices. Students learn how to analyze financial statements, prepare financial reports, and use accounting software. Additionally, they gain an understanding of taxation, auditing, and financial management. This certification is becoming increasingly popular as businesses become more reliant on accurate financial data.

Course Syllabus

Introduction

Downloadable Files

Session Objectives

The Three Key Financial Statements

The Balance Sheet: Assets

The Balance Sheet: Liabilities

The Balance Sheet: Shareholders' Equity

Balancing The Balance Sheet

Recording Transactions

Issuing Shares For 100 in Cash

Taking Out a Four Year Bank Loan

Buying a Property For 80

Buying Inventory For 60

Selling All Inventory For 90

Paying Salaries of 20

Paying Interest of 3

Current Assets Quiz

Defining Accounts Receivable and Payable

Buying and Selling on Credit

Valdero Inc. Exercise

Balance Sheet Quiz

Session Objectives

Role of the Income Statement

Income Statement: Gross Profit

Income Statement: Operating Income

Income Statement: Net Income

Creating a Full Income Statement

Recording Income and Expenses

Prepayments

Recording Expenses Part 2

Accrued Expenses

Finance Term Quiz

Luton Inc. Exercise

Depreciation

The Impact of Depreciation

Jenga Inc. Exercise

Quiz

Session Objectives

Downloadable Files

Three Key Financial Statements Review

The Role of Cash Flow Statement

The Cash Flow Statement: Operating Cash Flows

The Cash Flow Statement: Investing Cash Flows

The Cash Flow Statement: Financing Cash Flows

Profit vs. Cash Flow

The Idea of Matching Over Time

Matching Over Time Solution

PP&E Depreciation Recap

Depreciation and the Three Financial Statements

Different Types of Depreciation Methods

Calculating Operating Cash Flows - Direct Method

The Indirect Method

Operating Cash Flows - Indirect Method

Operating Cash Flows Example Period 1

Period 1 Solution

Operating Cash Flows Example Period 2

Period 2 Solution

Operating Cash Flows Example Period 3

Period 3 Solution

Operating Cash Flows Quiz

Johannes Operating Cash Flow Exercise

Deriving the Complete Cash Flow Statement

Stage One - Compare the Balance Sheets

Comparing Assets and Liabilities

Stage Two - Classifying the Cash Flows

Classifying Working Capital Cash Flows

Dealing With Property, Plant and Equipment (PP&E)

Calculating Net Capital Expenditures (Capex)

Net Capital Expenditure Quiz

Dealing With Retained Earnings

Preparing a Cash Flow Statement Exercise

Course Provider

Provider Udemy's Stats at AZClass

Discussion and Reviews

0.0   (Based on 0 reviews)

Start your review of Free Accounting Tutorial - Introduction to Financial Accounting

Quiz

submit successSubmitted Sucessfully

1. What is the difference between profit and cash?

2. What is the purpose of the income statement?

3. What is the purpose of the balance sheet?

close
part

faq FAQ for Accounting Courses

Q1: What is the purpose of this free accounting tutorial?

This free accounting tutorial is designed to provide an introduction to financial accounting. It covers the basics of financial accounting, including the accounting equation, double-entry bookkeeping, and the preparation of financial statements. It also provides an overview of the accounting cycle and the different types of accounts used in financial accounting.

Q2: How do I contact your customer support team for more information?

If you have questions about the course content or need help, you can contact us through "Contact Us" at the bottom of the page.

Q3: Can I take this course for free?

Yes, this is a free course offered by Udemy, please click the "go to class" button to access more details.

Q4: How many people have enrolled in this course?

So far, a total of 22900 people have participated in this course. The duration of this course is hour(s). Please arrange it according to your own time.

Q5: How Do I Enroll in This Course?

Click the"Go to class" button, then you will arrive at the course detail page.
Watch the video preview to understand the course content.
(Please note that the following steps should be performed on Udemy's official site.)
Find the course description and syllabus for detailed information.
Explore teacher profiles and student reviews.
Add your desired course to your cart.
If you don't have an account yet, sign up while in the cart, and you can start the course immediately.
Once in the cart, select the course you want and click "Enroll."
Udemy may offer a Personal Plan subscription option as well. If the course is part of a subscription, you'll find the option to enroll in the subscription on the course landing page.
If you're looking for additional Accounting courses and certifications, our extensive collection at azclass.net will help you.

close

To provide you with the best possible user experience, we use cookies. By clicking 'accept', you consent to the use of cookies in accordance with our Privacy Policy.