Introduction to Financial Accounting

This free online course teaches you the fundamental rules of accounting. We explain how the industry operates and is regulated as you become familiar with the ?accounting cycle?, financial statements, bookkeeping calculations, disclosures, accounting inventories and so on. Every organization and business needs to keep track of income and expenses and following the money can be a lucrative career path so sign up for this course to learn more.

What You Will Learn In This Free Course

The Development of Financial Accounting Standards

In this module, you will learn about the rules that govern accounting. GAAP sets the rules that accounts follow when making journal entries and standardizes accounting so that comparisons can be made among companies by outside parties. Investors, creditors, even employees count on the consistency of financial reporting in order to evaluate operations. Be sure you have accomplished the learning outcome in each section before you move on to the next section.

Beginners’ Guide to Financial Statements

This module walks you through the foundational elements of basic accounting and reading financial statements. We have uncovered other important topics like Balance Sheets and Income Statements, Cash Flow Statements Financial Statement Ratios and Calculations

The Accounting Cycle

This module covers the basic fundamentals of the Accounting Cycle. You will learn each and every step involved in the Accounting Cycle process. Furthermore, you also learn about the Principles of Accounting Transactions.

Calculating Cash Flows

This Module will introduce the fundamentals of Calculating Cash Flows. We’ll be analyzing the Preparation of the Statement of Cash Flows using the Direct and Indirect Methods.; Module

Accounting for Inventory

This module reviews the difference in reporting and financial presentation of information for service and merchandising operations and compares recording inventories for two separate types of businesses. Firstly, it is crucial that you understand the basics covered in the first topic “Understanding Inventory” this will enable you to understand more advanced topics covered in this module such as Components of Inventory Cost, Controlling Inventory, and lastly Conducting a Physical Inventory.

Measuring and Reporting Inventories

In this module, you will learn and understand why inventory represents a large portion of organization assets, you will also learn the measurement and reporting techniques. The topics covered here will help you analyze Inventory in the broader spectrum you’ll dive deep into the fundamentals: Valuing Inventory, Assessing Inventory Management, Reporting, and Analyzing Inventories.

Course assessment