Introduction to Financial Accounting

Introduction to Financial Accounting, available at Free, has an average rating of 4.66, with 67 lectures, 7 quizzes, based on 4499 reviews, and has 58054 subscribers.

You will learn about Explain the format of the income statement and balance sheet Define various financial statement terms (e.g. accounts receivable, prepayments, etc.) Record financial statement transactions (e.g. invoicing, raising equity, buying inventory, etc.) Prepare a simple income statement and balance sheet Outline the format of the cash flow statement Explain the difference between profit and cash Prepare a simple cash flow statement using the balance sheet and income statement This course is ideal for individuals who are This free online accounting course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process. or This class will also be useful for professionals who work in finance and want to review the concepts required for financial modeling and valuation in CFIs later courses. It is particularly useful for This free online accounting course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process. or This class will also be useful for professionals who work in finance and want to review the concepts required for financial modeling and valuation in CFIs later courses.

Enroll now: Introduction to Financial Accounting

Summary

Title: Introduction to Financial Accounting

Price: Free

Average Rating: 4.66

Number of Lectures: 67

Number of Quizzes: 7

Number of Published Lectures: 67

Number of Published Quizzes: 7

Number of Curriculum Items: 74

Number of Published Curriculum Objects: 74

Original Price: Free

Quality Status: approved

Status: Live

What You Will Learn

Explain the format of the income statement and balance sheet

Define various financial statement terms (e.g. accounts receivable, prepayments, etc.)

Record financial statement transactions (e.g. invoicing, raising equity, buying inventory, etc.)

Prepare a simple income statement and balance sheet

Outline the format of the cash flow statement

Explain the difference between profit and cash

Prepare a simple cash flow statement using the balance sheet and income statement

Who Should Attend

This free online accounting course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process.

This class will also be useful for professionals who work in finance and want to review the concepts required for financial modeling and valuation in CFIs later courses.

Target Audiences

This free online accounting course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process.

This class will also be useful for professionals who work in finance and want to review the concepts required for financial modeling and valuation in CFIs later courses.

Introduction to Accounting course overview:

This FREE Introduction to Accounting ?course will guide you through the fundamentals of the?accounting process. We will?explore the layout of the balance sheet, income statement, and cash flow statement; and demonstrate how to prepare financial statements from scratch. This fundamental accounting course is an essential building block required for performing financial modeling and other types of Wall Street financial analysis.

Constructing an income statement and balance sheet

In the first section of this free accounting course, we will explore the layout of the balance sheet and income statement, ?how transactions are recorded, and how to prepare a simple balance sheet and income statement. By the end of this section, you will have a solid understanding of how to construct a balance sheet and income statement.

Explain the format of the income statement and balance sheet

Define various financial statement terms (e.g. accounts receivable, prepayments, etc.)

Record financial statement transactions (e.g. invoicing, raising equity, buying inventory, etc.)

Prepare a simple income statement and balance sheet

Constructing a cash flow statement

In this second section of this Intro to?Accounting course, we will?explore the layout of the cash flow statement, explain the differences between the cash flow statement and the income statement, and prepare a cash flow statement from scratch. By the end of this section, you will have a solid understanding of how to construct a cash flow statement.

Outline the format of the cash flow statement

Explain the difference between profit and cash

Prepare a simple cash flow statement using the balance sheet and income statement

More Accounting Course Details

This online accounting course incorporates a wide range of applied exercises and case studies. Sophisticated search and navigation tools allow you to go at your own pace while?quizzes test what you’ve just learned.?

The course also includes two PDF reference guides – an accounting factsheet and a financial statements glossary – that can be used while taking the course and downloaded to your computer for future reference. This is the ultimate accounting crash course to prep for Wall Street careers!

Course Curriculum

Chapter 1: Constructing a Balance Sheet

Lecture 1: Introduction

Lecture 2: Downloadable Files

Lecture 3: Session Objectives

Lecture 4: The Three Key Financial Statements

Lecture 5: The Balance Sheet: Assets

Lecture 6: The Balance Sheet: Liabilities

Lecture 7: The Balance Sheet: Shareholders Equity

Lecture 8: Balancing The Balance Sheet

Lecture 9: Recording Transactions

Lecture 10: Issuing Shares For 100 in Cash

Lecture 11: Taking Out a Four Year Bank Loan

Lecture 12: Buying a Property For 80

Lecture 13: Buying Inventory For 60

Lecture 14: Selling All Inventory For 90

Lecture 15: Paying Salaries of 20

Lecture 16: Paying Interest of 3

Lecture 17: Defining Accounts Receivable and Payable

Lecture 18: Buying and Selling on Credit

Lecture 19: Valdero Inc. Exercise

Chapter 2: Constructing an Income Statement

Lecture 1: Session Objectives

Lecture 2: Role of the Income Statement

Lecture 3: Income Statement: Gross Profit

Lecture 4: Income Statement: Operating Income

Lecture 5: Income Statement: Net Income

Lecture 6: Creating a Full Income Statement

Lecture 7: Recording Income and Expenses

Lecture 8: Prepayments

Lecture 9: Recording Expenses Part 2

Lecture 10: Accrued Expenses

Lecture 11: Luton Inc. Exercise

Lecture 12: Depreciation

Lecture 13: The Impact of Depreciation

Lecture 14: Jenga Inc. Exercise

Chapter 3: Constructing a Cash Flow Statement

Lecture 1: Session Objectives

Lecture 2: Downloadable Files

Lecture 3: Three Key Financial Statements Review

Lecture 4: The Role of Cash Flow Statement

Lecture 5: The Cash Flow Statement: Operating Cash Flows

Lecture 6: The Cash Flow Statement: Investing Cash Flows

Lecture 7: The Cash Flow Statement: Financing Cash Flows

Lecture 8: Profit vs. Cash Flow

Lecture 9: The Idea of Matching Over Time

Lecture 10: Matching Over Time Solution

Lecture 11: PP&E Depreciation Recap

Lecture 12: Depreciation and the Three Financial Statements

Lecture 13: Different Types of Depreciation Methods

Lecture 14: Calculating Operating Cash Flows – Direct Method

Lecture 15: The Indirect Method

Lecture 16: Operating Cash Flows – Indirect Method

Lecture 17: Operating Cash Flows Example Period 1

Lecture 18: Period 1 Solution

Lecture 19: Operating Cash Flows Example Period 2

Lecture 20: Period 2 Solution

Lecture 21: Operating Cash Flows Example Period 3

Lecture 22: Period 3 Solution

Lecture 23: Johannes Operating Cash Flow Exercise

Lecture 24: Deriving the Complete Cash Flow Statement

Lecture 25: Stage One – Compare the Balance Sheets

Lecture 26: Comparing Assets and Liabilities

Lecture 27: Stage Two – Classifying the Cash Flows

Lecture 28: Classifying Working Capital Cash Flows

Lecture 29: Dealing With Property, Plant and Equipment (PP&E)

Lecture 30: Calculating Net Capital Expenditures (Capex)

Lecture 31: Dealing With Retained Earnings

Lecture 32: Preparing a Cash Flow Statement Exercise

Lecture 33: Conclusion

Chapter 4: Additional Resources

Lecture 1: FREE RESOURCES

Instructors

Scott Powell
Corporate Finance Institute

Rating Distribution

1 stars: 38 votes

2 stars: 102 votes

3 stars: 557 votes

4 stars: 1622 votes

5 stars: 2180 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!