Accounting 105 – Profit & Loss Statements & Balance Sheets

Students will be able to create Profit Loss Statements and The Balance SheetStudents will be able to understand the important financial statementsStudents should be able to work as Book keepers with some practicePrinciples Of Accounting:Accounting 105 is the 5th and Last Part out of a series of Accounting Courses that are designed to help the complete beginner, go on to master the basics concepts of accounting and move on step by step to become a professional accountant! Students can further their knowledge of key accounting concepts which they can use in their full time employment goals or even can use this series to pick up freelance jobs to earn passive income by maintaining/completing book keeping entries for others via freelance websitesThe course is not just theory but also takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment. This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead.Course Outline:In this course we are going to learn about the basic accounting principles of:Calculating Sales Net SalesCalculating Purchases Net PurchasesFinding the Cost of goods soldCalculating the Gross ProfitCalculating the Net ProfitCreating the Profit Loss StatementCreating the Profit Loss Statement with year end adjustment entriesCurrent Assets vs Non-Current AssetsCreating the Balance Sheet From ScratchUsing and building a template to create PL Statements and the Balance SheetSolidify your knowledge through Practice Questions and check your answersHaving completed the entire series students of the proper age would be able to take up entry level jobs as book keepers, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.Other Courses:The other parts of this Accounting Series are as follows:Accounting 102 – The Ledger The Trial BalanceAccounting 103 – The Special Journals The Subsidiary LedgersAccounting 104 – Bank Reconciliation Correction Of ErrorsWho this course is for:Anyone looking to learn Accounting as a BeginnerThose looking to make passive income taking on freelance jobsThose looking to grow their accounting skills obtain higher level of understanding of accounting concepts