Mastering Financial Accounting to Balance Sheet
A novel course designed along with its private cloud software for solid understanding of accounting with ease.
Mastering Financial Accounting to Balance Sheet free download
A novel course designed along with its private cloud software for solid understanding of accounting with ease.
This comprehensive course provides hands-on experience in building and managing essential financial accounting records, including the Chart of Accounts, Journal Entries, Ledger, Trial Balance, Profit and Loss Statement, and Balance Sheet. Designed for finance professionals, business owners, and accounting enthusiasts, this course will guide you through the entire accounting cycle, from recording daily transactions to analyzing financial reports.
By the end of this course, you'll have a complete understanding of how to create and interpret core financial statements, empowering you to manage financial data effectively and make informed decisions for your business or career.
By the end of the course, students should be able to:
Understand the principles and concepts of financial accounting.
Utilize computer-based accounting software effectively.
Record financial transactions accurately.
Prepare financial statements, including balance sheets, income statements, and cash flow statements.
Analyze financial data for decision-making.
Comply with relevant accounting standards and regulations.
Demonstrate proficiency in using spreadsheets and accounting software for financial analysis and reporting.
Conclusion: Introducing a computer-based financial accounting course will equip students with the essential skills needed to succeed in modern accounting roles. The combination of theoretical knowledge and practical software application will prepare them for careers in accounting, finance, auditing, and more. Additionally, staying updated with the latest accounting software and technology trends is crucial in today's dynamic financial landscape.
Fundamentals of computer based financial accounting is a unique course designed along with its private Online Financial Accounting Application. the educational application developed specifically to improve understanding computerized accounting functions with ease. furthermore you can use the student access on to the application for your own small to medium size companies.
Who is this course for?
Are you a manager and want simply evaluate budgets or create projected budgets based on summarized transactions?
Do you need to perform financial accounting process from journal entries to balance sheet in minutes?
Are you an accountant or startup owner need to set up accounting system for his/her small to medium size company?
Are you working in different sector and need to understand concepts of accounting for ERP implementation?
Are you student want to prepare for exams and career simultaneously?
If you are one of the roles mentioned earlier, this course is suitable for you.
The course focus on fundamentals of how financial accounting function are structured in the computer applications as well as simplified description of accounting concepts using the application.
(1) Chart of Accounts Definition
System of accounting records developed by every organization to be compatible with its particular financial structure, and in agreement with the amount of detail required in its financial statements. It consists of a list of ledger account names and numbers showing classifications and sub-classifications, and serves as an index to locate a given account within the ledger. See also class of accounts.
chart of accounts is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
chart of accounts appears in the definition of the following term: class of accounts
(2) Journal entries Recording
Accounting requires very specific methods of recording transactions. Generally, transactions are recorded through the use of accounts. These accounts are actually places within accounting systems in which changes in assets, liabilities, owner's equity, revenues, and expenses are recorded. The changes reflect increases or decreases in these accounts over a given time period.
In its simplest form, an account looks very much like the letter "T", hence the name "T-Account"
Every transaction affects, and is recorded in, two accounts. Consider the following:
Bill invests $1,000 in his company.
First, we debit Cash to show an increase of an asset, and we credit owner's equity to show the increase of capital.
(3) Summery of journal Entries by Date
recording transactions is a long process. Even after the information has been recorded, further steps must be taken in order to complete the accounting cycle. These include the adjusted trial balance, the income statement, the statement of changes in owner’s equity, and the balance sheet (all of which are explained in the Financial Statements section). Probably the best way to illustrate the idea of recording transactions and preparing financial statements is to work through an example. Example A was created with that purpose in mind.
(4) Ledger Accounts Building
A book of final entry summarizing all of a company's financial transactions, through offsetting debit and credit accounts.
(5) Trial Balance Generation
A statement of all the open debit and credit items in a double-entry ledger, made to test their equality
(6) Profit / Lose Statement
An official quarterly or annual financial document published by a public company, showing earnings, expenses, and net profit. Net income is determined from this financial report by subtracting total expenses from total revenue. The profit and loss statement and the balance sheet are the two major financial reports that every public company publishes. The difference between this statement and the balance sheet deals with the periods of time that each one represents. The profit and loss statement shows transactions over a given period of time (usually quarterly or annually), whereas the balance sheet gives a snapshot holdings on a specific date. also called income statement or earnings report.
(7) Balance Sheet Building
An itemized statement that lists the total assets and total liabilities of a given business to portray its net worth at a given moment in time
Report Importing and Download in MS-Word Format
Users Can Download all of the above reports in word documents.
Join us on a journey to master the intricacies of financial accounting with our comprehensive course, "Mastering Financial Accounting: From Chart of Accounts to Balance Sheets." Designed for beginners and professionals alike, this course provides a structured approach to understanding and applying key concepts in financial accounting.
Section 1: Working with Chart of Accounts Gain access to financial accounting applications and learn to create and manage the chart of accounts, laying the foundation for effective financial record-keeping.
Section 2: Journal Explore the journaling process, from recording transactions to maintaining daily transaction statements, ensuring accurate and organized financial documentation.
Section 3: Ledger Learn to display and print ledger accounts, enabling efficient tracking and management of cash transactions and other financial activities.
Section 4: Trial Balance Gain insights into the entire accounting cycle and prepare for the trial balance stage, where you'll create and validate trial balances to ensure the equality of accounts.
Section 5: Profit and Loss Account Define and create profit and loss accounts, analyzing the financial accounting cycle to understand the impact of transactions on profitability.
Section 6: Balance Sheet Dive into the structure and purpose of balance sheets, mastering the creation process and analyzing the effects of adding fixed assets and journal entries on balance sheet presentations.
Throughout the course, you'll engage in hands-on exercises and demonstrations, allowing you to apply theoretical concepts to real-world scenarios effectively. Whether you're looking to enhance your accounting skills or embark on a career in finance, this course equips you with the knowledge and tools needed to excel in financial accounting.
