Introduction to Financial Accounting

Introduction to Financial Accounting

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!

Learn the fundamentals and building blocks of the accounting process

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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.)

Rating: 4.63265

Level: Beginner Level

Duration: 1 hour

Instructor: Scott Powell