Financial Accounting
Learn how businesses record transactions, prepare financial statements, and communicate financial performance to owners, investors, and other stakeholders.
Course overview
Financial accounting focuses on recording, classifying, and summarising financial transactions to produce accurate financial statements. This course takes you from the basic accounting equation all the way to preparing and analysing the main financial reports.
- Understand the accounting equation and double-entry system
- Record transactions using journal entries
- Post entries to the ledger and prepare a trial balance
- Prepare the income statement, balance sheet, and cash flow statement
- Make adjusting entries for accruals, deferrals, and depreciation
- Analyse financial statements using ratios and trends
Course chapters
Follow the chapters in order for the best learning experience.
Accounting Fundamentals
Start with the accounting equation, account types, debits, credits, and the double-entry system.
Journal Entries
Learn how to record business transactions correctly using journals and source documents.
Ledger & Trial Balance
Post journal entries to the ledger accounts and prepare a trial balance to check accuracy.
Financial Statements
Prepare the income statement, statement of financial position, and statement of cash flows.
Adjusting Entries
Understand accruals, deferrals, depreciation, and other year-end adjustments.
Financial Statement Analysis
Interpret financial reports using ratios, trends, and common-size analysis.
Recommended learning approach
Work through the chapters in sequence. Each chapter builds on the previous one. Practice the examples and try the questions before moving ahead.