Accounting for Beginners - Financial statements, Balance sheet, and more - Accounting Course
The subject of accounting is based on one guiding principle; everything else consists of details, some of which are technical, and some of which are procedural. The guiding principle is simple: all data concerning a company’s activity is assigned to one of the following five categories:The first two categories (1 and 2) are the backbone of a report called a profit and loss statement.
The next two categories (3 and 4) are the backbone of a report called the balance sheet. The fifth category (5) is the backbone of a report called the cash flow statement.
When details are given below, it will be seen that each of these categories is a collection of smaller categories.
Basic accounting skills are necessary tools when dealing with finances. Understanding the basic concepts and methods used in accounting is crucial for developing organizational skills. Managing your money is a necessity in any line of business. Knowing how to keep track of your actions, make projections and set up budgetary limits are key factors on the way to success. -
Objectives
Acquire the tools necessary to understand and execute appropriate accounting procedures.
Making better decisions by correctly analyzing your financial information.
Learn the structure and purpose of the three primary financial statements: balance sheet, income statement, and cash flow statement.
Learn the basic language of business, such as cost of sales, expenses, bad debts, fixed assets, and the difference between cash and profit.
Analyze financial information and make better decisions using ratios such as balance sheet ratios, net profit per share and return on equity.
- See more at: http://www.globalfinanceschool.com/interactive-courses/fundamentals-accounting-beginners-course#sthash.i4fqwxxv.dpuf
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