Principles of Financial Accounting

This is an introductory financial accounting course that covers all the financial accounting concepts offered in an introductory financial accounting course at university or college.

Financial accounting is the process of recording, summarizing and reporting a company's business transactions through financial statements. These statements are: the income statement, the balance sheet, the cash flow statement and the statement of retained earnings.

Learn and Master the Financial Accounting Process.

• Understand that accounting is the language of business.

• Know business terminology (biz speak).

• Understand the difference between a corporation and a single proprietorship.

• Know the three forms of business - service company, merchandise company and a manufacturer.

• Understand an Income Statement and how to prepare one.

• Understand a Balance Sheet and how to prepare one.

• Know how to analyse and record business transactions

• Learn how to use debits and credits to record business transactions.

• Know how to use the accounting journal and ledger,

• Complete a set of accounting records for a service business using excel spreadsheets.

• Complete a set of accounting records for a merchandise company using excel spreadsheets.

• Understand LIFO and FIFO.

• Understand how to use the accounting system for Internal Control.

• Understand the different methods of depreciation.

This is one of the best courses I have gone through. My finance knowledge has increased to large extent.  Sonalika Sood