Financial Accounting

Beginner

Created by YouTube Last Updated August 12, 2024 12:37 PM

Fundamental Accounting Principles: Understanding the basic concepts and principles that underpin financial accounting, including the double-entry system, the accounting equation, and the accrual basis of accounting.
Financial Statements: How to prepare and interpret key financial statements, including the balance sheet, income statement, and cash flow statement. Students will learn what each statement represents and how they interconnect to reflect a company’s financial performance and position.
Recording Transactions: The process of recording financial transactions in journals and ledgers, using debits and credits, and ensuring accuracy in financial reporting.
Adjusting Entries: Understanding how to make adjusting entries for items such as depreciation, accrued expenses, and prepaid expenses to ensure that financial statements are accurate at the end of an accounting period.