This course will teach you the tools you'll need to understand the fundamentals of financial accounting. Concise videos, the financial records of a small business, and "your turn" activities guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows. Beyond recording transactions, you'll learn how to prepare these financial statements, and read and analyze them to draw basic conclusions about a company's financial health. By the end of this course, you will be able to: - Use journal entries to record transactions - Prepare and use t-accounts to summarize transactions recorded during an accounting period - Describe the three most commonly used financial statements and how they fit together - Prepare these financial statements based on transactions recorded during an accounting period - Draw basic conclusions about a company's financial health
The Income Statement: A Summary
您将学习的技能
Financial Accounting, Accounting, Financial Statement, Balance Sheet
审阅
PG
Jul 31, 2017
One of the Best course on Financial Accounting. Gives end to end hands on experience of entire Accounting Cycle. Quizzes are really engaging and require hands on working in many cases.
YY
Jan 24, 2019
This course gives me a practical understanding of accounting principles and key financial statements, which is helpful for my work. Strongly recommend to my friends and colleagues
Now that we’ve learned the fundamentals of recording transactions, we’re ready to dive into another financial statement: the Income Statement (IS). After learning about the Income Statement, we’ll record revenue and expense transactions, and summarize these transactions in a special account. Finally, we'll record adjusting entries in accordance with accrual accounting, prior to the preparation of the financial statements.
教学方
Luann J. Lynch
Almand R. Coleman Professor of Business Administration