Introduction
- Introduction
- The Language of business
- Self assessment 1
- GAAP and Accounting
- Self assessment 2
- Accounting Equation
- Self assessment 3
- The Balance Sheet and Profit & Loss explained
- Financial terms
What you'll learn
- Students will acquire a clear understanding of the nature of accounting information and the environment in which it is developed and used.
- Understanding basic accounting terminology
- Understand the environment in which accounting is developed and used.
- Understand and know how to create a Profit & Loss and Balance Sheet statement
Description
This financial accounting course delves into the following topics:
accounting data's characteristics,
the context in which it was created,
Accounting's purpose and nature,
accounting systems' functions,
who makes use of the accounting software,
and accountants' and CPAs' work.
In addition, we talk about the FASB and discuss the accounting standards known as generally accepted accounting principles. I also
explain how to apply standard internal controls to prevent theft, fraud, and embezzlement in any firm and we describe and explore the numerous types of business organizations.
I explain:
explain common internal controls that can be used in every business organization in order to avoid theft, fraud, and embezzlement.
The various forms of business organizations are also explained and discussed.
I discuss and define the various financial terms that are needed to create a profit and loss and a balance sheet.
We explain the nature of assets, liabilities, and owner's equity; and how a balance sheet should balance.
The accounting equation is also introduced and discussed, explained, and illustrated.
And finally, a balance sheet and a profit and loss are explained in detail.
At the end of the course it is expected that the student will have a better understanding of the nature of accounting, understand accounting concepts, certain accounting terminology, and understand two of the main financial statements; the balance sheet and the profit and loss statement.
Happy learning!
The University of Sheffield
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About the instructors
- 4.32 Calificación
- 3657 Estudiantes
- 3 Cursos
Irene Tuyud
Accounting/HR Specialist at Udemy
Irene has an undergraduate degree in Accounting, an International Auditing Certificate from ACCA, a Human Resources Certificate from Cornell University amongst other certificates. Irene worked as a corporate/business accountant for over fifteen years and has been self-employed as a freelance accountant/finance specialist for over ten years providing accounting, bookkeeping, and training for small medium and large companies and organizations. Irene is glad when she is able to share and transfer some of her knowledge to others.
Student feedback
4.25
Course Rating
Reviews
Rebecca Walsh
02-12-2023
It was simple and easy to learn the basics of accounting
Jennifer Schmalz
19-06-2023
Very good for a basic overview of accounting