Fundamentals of Financial Accounting – A Complete Study
About Course
Learn the Basics of Financial Accounting: Financial Statements, Debits and Credits, The Accounting Cycle and More!
Course Introduction
What you’ll learn
Understand the Accounting Equation and the Debit/Credit System.
Identify All Stages of The Accounting Cycle.
Measure, Value and Re-value Assets, Liabilities and Equity.
Apply Financial Accounting Principles to Business Settings.
Prepare a Cash Flow Statement.
Develop a Basic Understanding of GAAP and IFRS Accounting Policies.
Requirements
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English
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Arithmetic
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Basic Algebra
Certification
Upon completing this course, learners will receive a verified certificate to boost their career. (see sample certificate below)
Course Content
Fundamentals of Financial Accounting
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Introduction to Financial Accounting
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The Accounting Equation EXAMPLE
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Understanding Assets, Liabilities and Equity
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Preparing the Financial Statements
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Preparing the Income Statement
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Preparing the Statement of Changes in Equity
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Preparing The Balance Sheet
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Journal Entries Explained
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Journal Entries Example
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T-Accounts Explained
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The Trial Balance Example
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Adjusting Journal Entries Explained
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Adjusting Journal Entries EXAMPLES
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Adjusting Journal Entries – MORE EXAMPLES
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Adjusted Trial Balance
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Preparing Detailed Financial Statements
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Closing Journal Entries EXPLAINED
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Accounting for Cash
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Bank Reconciliation Example
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Completing Bank Reconciliations – The Journal Entries
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Accounts Receivable Explained
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Accounts Receivable – Percentage of Sales Method Example
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Accounts Receivable – Aging of Receivables Method
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How do you Write Off an Receivable
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Introduction to Inventory
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Inventory Discounts EXPLAINED
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Income Statement Example – NOW WITH COGS
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Merchandiser’s Financial Statements – Stmt of Changes in Equity
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Merchandiser’s Financial Statements – Balance Sheet
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Inventory – FIFO, LIFO, Weighted Average Explained
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Inventory – FIFO Method FIXED
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Inventory – LIFO Method
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Inventory – Weighted Average (Average Cost) Method
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Capital Asset Depreciation
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Straight-Line Depreciation Example
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Units of Production Depreciation Example
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Double Declining Balance Depreciation Example
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Selling an Asset at a Gain or Loss Example
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Liabilities, Warranties and Bonds
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Bonds issued at a Discount
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Bonds issued at a Premium
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Shareholders’ Equity
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Shareholders’ Equity Example Problem
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Statement of Cash Flows Explained
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Statement of Cash Flows Example – Direct Method
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Statement of Cash Flows Example – Indirect Method
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Statement of Cash Flows – Investing and Financing Sections
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Financial Statement Analysis
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Horizontal Analysis
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Vertical Analysis
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Financial Ratio Calculations and Analysis
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