Overview

Get ready for a deep dive into Financial Accounting, a critical skill for any aspiring accountant, business owner, or student. This comprehensive course offers you lifetime access to many sections of engaging video content, a multitude of real-world examples, practice problems, and an extensive, downloadable e-book in EPUB, MOBI, and PDF formats.

From the fundamentals of the double-entry accounting system to the complexities of long-term liabilities and cash flow statements, this course covers a breadth of topics equivalent to an undergraduate Financial Accounting program. The course supplements academic study by providing an online resource you can refer back to, ensuring the concepts stay fresh and readily accessible.

We begin with an introduction to Financial Accounting and progress steadily through various topics, including recording transactions, adjusting and closing entries, merchandising transactions, and various cost flow assumptions. Specialized sections delve into subsidiary ledgers, bank reconciliations, depreciation methods, payroll accounting, and more.

The course incorporates Excel for practical application of the theories taught. If you're unfamiliar with Excel, fear not! We provide pre-formatted worksheets and step-by-step instructional videos that move at a friendly pace.

We debunk the myths surrounding debits and credits, illustrate how to record transactions using these methods, and demonstrate the importance of period-end adjusting entries.

This course is more than just a procedural guide—it stresses the understanding of underlying theories to make learners flexible and adaptable in a constantly changing environment. You'll learn the rationale behind financial accounting processes, ensuring you can apply these skills in a variety of contexts.

Incorporating real-world scenarios, each section breaks down complex concepts into understandable chunks, followed by practical application in Excel.

Topics include, but are not limited to:

· Debits and Credits

· Period End Adjusting Entries

· Recording Closing Entries

· Inventory Transactions

· Subsidiary Ledgers & Special Journals

· Bank Reconciliations

· Accounts Receivable

· Depreciation Methods

· Payroll Accounting

· Partnership Accounting

· Corporate Accounting

· Bonds Payable, Notes Payable, & Long-Term Liabilities

· Cash Flow Statements

The course is designed to start at the basics and gradually advance to the level of detail expected in an undergraduate program. By course completion, you will have a firm grasp on Financial Accounting that not only stands the test of time but also serves as a continuously available resource in your accounting journey. Enroll now to become a confident, adaptable accounting professional.

Requirements

• 1. Familiarity with basic mathematical operations: As the course involves performing calculations for different financial processes, basic mathematical skills are necessary.
• 2. Willingness to learn and engage with complex concepts: Financial accounting can be detailed and requires careful study. Being prepared to engage with the content actively will help ensure successful learning outcomes.

Outcomes

• 1. Grasp the basics of financial accounting and understand its objectives and significance in business.
• 2. Demonstrate proficiency in using the double-entry accounting system and interpreting the accounting equation.
• 3. Record business transactions using debits and credits, including period-end adjusting entries.
• 4. Understand and apply the rules for closing entries at the end of an accounting period.
• 5. Handle transactions related to the purchase and sale of inventory, including applying inventory cost flow assumptions such as FIFO, LIFO, and weighted average m