Welcome to Financial Accounting!
Welcome to the Financial Accounting course, an online and self-paced program designed to equip you with the essential knowledge and skills needed to understand and apply accounting principles in various business scenarios. This course is part of the Business Management program offered by the London School of Business Administration.
Who is this Course For?
This course is ideal for professionals looking to deepen their understanding of financial accounting, whether you’re an entrepreneur, a finance manager, or someone considering a career in accounting.
By the end of this course, you will be able to:
- Understand the fundamental principles of financial accounting.
- Analyze and interpret financial statements.
- Apply accounting concepts like debits, credits, and the accounting equation.
- Evaluate a company’s financial performance using ratio analysis.
- Understand the ethical considerations in financial accounting.
The course is structured into 19 comprehensive lessons, each focusing on a specific topic in financial accounting. Here are the lessons you will go through:
- Introduction to Financial Accounting: An overview of what financial accounting is and why it is essential.
- The Accounting Equation and Double-Entry Bookkeeping: Learn the backbone of accounting.
- Understanding Financial Statements: Dive into income statements, balance sheets, and cash flow statements.
- Recording Transactions: Debits and Credits: Understand the mechanics of recording financial transactions.
- The General Ledger and T-Accounts: Learn how transactions are summarized.
- Adjusting Entries and Accrual Accounting: Understand the need for adjustments in accounting records.
- The Trial Balance and Financial Statement Preparation: Learn how to prepare financial statements from scratch.
- Understanding the Income Statement: A deep dive into revenues, costs, and expenses.
- Understanding the Balance Sheet: Explore assets, liabilities, and equity.
- Understanding the Statement of Cash Flows: Learn how cash moves in a business.
- Ratio Analysis and Financial Performance Metrics: Evaluate a company’s financial health.
- Cash vs. Accrual Accounting: Understand these two fundamental accounting methods.
- Financial Analysis and Interpretation: Learn to read between the lines of financial statements.
- Revenue Recognition and Expense Matching: Understand when and how to recognize revenue and expenses.
- Inventory Valuation and Cost of Goods Sold: Learn various methods for inventory valuation.
- Fixed Assets and Depreciation: Understand the accounting for long-term assets.
- Liabilities and Long-Term Debt: Learn about different types of liabilities.
- Equity and Shareholder’s Equity: Understand what equity is and how it’s accounted for.
- Financial Statement Footnotes and Disclosures: Learn the importance of footnotes in financial statements.
- Ethical Issues in Financial Accounting: Discuss the ethical considerations in accounting.
Each lesson includes detailed explanations, examples, case studies, practical exercises, and self-assessments to ensure a holistic learning experience.
This course is enriched with multiple diagrams, charts, and infographics to facilitate understanding. Each lesson concludes with a practical exercise and self-assessment to reinforce learning.
Take the first step towards mastering financial accounting by enrolling in this comprehensive course. Your journey to becoming a financial accounting expert starts here!
We look forward to having you in the course!