Master The Basics Of Financial Statements

Learn How an Income Statement and Balance Sheet Are Built From Scratch, Including the Basics of Accrual Accounting.

What you'll learn

Understand the Basics of Financial Statements

Master the Balance Sheet and Income Statement

Prepare Your Own Financial Statements in Microsoft Excel

How to Deal with Basic Accounting Adjustments

Requirements

A basic understanding of debits and credits would be helpful. However, this course is designed for complete beginners.

Description

If you are a small business owner, new to accounting, or a professional that would like to gain a basic understanding of financial statements, then this class will be perfect for you.This is a project-based class in which we will work together from beginning to end to create a balance sheet and income statement. The main objective of this course is to help you grasp the basics of how financial statements function.You do not need any knowledge of accounting of financial statements to follow along with this course as we will start together from the beginning and work our way up to creating the balance sheet and income statement.To start with, I will explain to you the fundamentals of why we use financial statements. I will then show you the different types of basic accounting methods that are used when preparing financial statements. After that, we will work together to build the balance sheet and income statement.Finally, it will be your turn to use the knowledge you have gained throughout the course to build you own balance sheet and income statement in a prebuilt Microsoft Excel template.After taking this class, you should feel confident in your ability to interpret a basic balance sheet and income statement.

Overview

Section 1: The Purpose of Financial Statements

Lecture 1 The Purpose of Financial Statements

Section 2: Understanding Financial Statements

Lecture 2 Understanding Financial Statements

Section 3: The Balance Sheet

Lecture 3 The Balance Sheet

Section 4: The Income Statement

Lecture 4 The Income Statement

Section 5: Your Assignment!

Lecture 5 Your Assignment!

Professionals that would like to understand how basic financial statements work.,Small business owners.,Beginner accounting students.