Master Financial Accounting & Bookkeeping: From Beginner to Expert

What you will learn:

Master core financial accounting principles
Become proficient in bookkeeping techniques
Prepare and analyze key financial statements (Balance Sheet, Income Statement, Cash Flow Statement)
Automate accounting tasks using Microsoft Excel
Calculate and record various depreciation methods
Understand and apply inventory valuation methods
Manage account receivables and bad debts effectively
Perform bank reconciliations accurately
Apply accounting principles to real-world business scenarios
Gain a solid understanding of IFRS (International Financial Reporting Standards)

Description

Unlock your financial potential with our comprehensive accounting and bookkeeping course! Designed for all levels, from complete beginners to those seeking to enhance their skills, this program provides a structured, step-by-step journey to mastery. You'll delve into core accounting concepts such as the fundamental accounting equation, the double-entry bookkeeping system, and the preparation of crucial financial reports including the balance sheet, income statement, and cash flow statement.

This course goes beyond the basics, equipping you with practical, hands-on experience in recording journal entries, managing ledgers, and preparing accurate trial balances. A significant advantage is the seamless integration of Microsoft Excel, empowering you to automate accounting processes, streamline data management, and generate insightful financial reports. Learn to efficiently utilize Excel for tasks such as recording financial data, automating calculations, and creating professional financial statements.

Advanced topics are covered in detail, including a thorough exploration of various depreciation methods, such as the straight-line, declining balance, and double-declining balance methods. You'll master the art of accurately recording and accounting for asset depreciation, a critical skill in financial management. We’ll also explore topics like inventory valuation, account receivables, bad debts and the percentage of completion method. Real-world case studies and practical examples provide a realistic application of the concepts learned.

By the end of this course, you will be confident in interpreting and analyzing financial data, creating accurate financial statements, and automating your workflow using Microsoft Excel. Whether you aspire to a career in accounting, aim to improve your personal finance management, or plan to launch your own business, this course provides the essential skills and knowledge for success. Enroll today and transform your financial future!

Curriculum

Introductory Financial Accounting

This section lays the groundwork for your accounting journey. You’ll start with an introduction to financial accounting, exploring the accounting cycle, and the key components of financial statements. Lectures cover the accounting equation, double-entry bookkeeping, and an introduction to IFRS. This section concludes with quizzes to solidify your understanding of fundamental concepts such as the accounting cycle, IFRS, and double-entry bookkeeping.

Financial Statements

Gain a deep understanding of the three core financial statements: the balance sheet, income statement, and cash flow statement. Lectures provide comprehensive explanations of each statement's purpose and structure, including how to interpret and analyze them. You'll conclude the section by answering quizzes on balance sheets, income statements, and cash flow statements to test your comprehension.

Inventory Valuation Methods

Learn about the various methods used to value inventory, a crucial aspect of financial accounting. The section includes a detailed overview of inventory valuation methods and a concluding quiz to ensure you've grasped the concepts.

Financial Accounting Depreciation

Master different depreciation methods, including straight-line, declining balance, double-declining balance, and sum-of-the-years-digits. Each method is explained in detail, making it easy to understand and apply in practice.

Account Receivables and Bad Debts

This concise section covers the crucial topics of account receivables and how to manage bad debts effectively.

Percentage of Completion (PoC) Method

Understand the Percentage of Completion (PoC) method for revenue recognition in long-term projects. This section includes an overview of the method, a practical example, and a quiz to test your knowledge.

Adjusting Entries Explained

Learn how to make adjusting entries, a critical part of the accounting process, with a comprehensive overview of the subject.

Bank Reconciliation

Master bank reconciliation – a key process for ensuring accuracy in your financial records. This section includes a step-by-step guide, and a case study to help you apply your knowledge.

Real-World Application: Case Study

Apply your knowledge in a practical, real-world scenario. This case study utilizes Excel templates, guiding you through the entire accounting cycle for a sample company, including recording transactions, preparing financial statements, and performing analysis. It covers various transactions, including inventory purchases, sales, payments, loans, depreciation, bad debts, and tax expenses.

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