Financial Accounting for Beginners

Why This Course?

This class is for anyone who is new to accounting. It is expected that you are starting from a knowledge base of zero. The class is designed to get you up and running with a solid understanding of basic Financial Accounting. It gives you a real-world perspective into accounting without overloading you with information. The class is intended for you take accounting concepts and to be confident enough to apply those in the real world.

Who is this Course For?

This course is for anyone who is interested in learning financial accounting. If you are a university student, small business owner, or want to become a bookkeeper this course is a great place to start.

Why I made this Course

I made this course after I came to the realization that accounting is being taught in a very compartmentalized way. You are taught a concept and given a vague explanation of how it fits into the accounting cycle. You are then later expected to recall this information and you have no idea how it fits into the big picture. I realized this when I began to work in public accounting after college. I had these problems and so did all of the new hires. It amazed me that accountants who graduated from top universities had little understanding of the flow of accounting. My objective with this course is for you to walk away with a basic understanding of the flow of accounting and how transactions fit into the larger picture.

Notes

I have given you the notes I made for the lecture so you can follow along without having to spend a lot of time writing it all down. The notes are in PDF format and are uploaded to each section.

Project Description

For the class project, you are given 5 different projects to work on. You are to create an Income Statement, Statement of Owner's Equity and Balance sheet for each project.

The idea is to expose you to real-world accounting so you become familiar with it.