Principles of Financial Accounting

A Professional Development course. Mastering the Language of Business; Navigating Financial Statements;

Reviews of this course

This is one of the best courses I have gone through. My finance knowledge has increased to large extent.  Sonalika Sood

Hi! at first i underestimated your way of teaching (because it was too theoretical) but now i enjoy your lecture. Thank you so much for your clear explanations!!! Laurent

It help me to understand how to measure and record balance sheet and income statement elements in organizations. Anonymized User Udemy Business.

Yes, it was good and got lot of things. Shanika Wijenarayana Sonnadara Udemy Business.

Having this new kind of perspective in Financial Accounting is an amazing learning. Anonymized User Udemy Business.

This course provides a comprehensive introduction to the principles and practices of financial accounting, designed for students and professionals seeking a solid understanding of how businesses record, report, and analyze financial transactions. Over the duration of the course, participants will explore the accounting cycle, from identifying and recording transactions to preparing financial statements, ensuring compliance with generally accepted accounting principles (GAAP).

Students will begin by learning the fundamental concepts of financial accounting, including the roles of assets, liabilities, and equity in the balance sheet. The course covers key processes such as journal entries, ledger posting, trial balance preparation, and adjusting entries, with a focus on accrual accounting, revenue recognition, and expense matching. Participants will also gain hands-on experience in generating financial statements—balance sheets, income statements, and cash flow statements—and interpreting them to assess an organization’s financial health.

A significant emphasis is placed on internal controls and fraud prevention, drawing from real-world case studies like the Enron scandal to highlight the importance of ethical financial reporting. Students will explore how segregation of duties, access controls, and regular audits can safeguard organizational integrity. Additionally, the course addresses ethical considerations, ensuring participants understand the importance of transparency and accountability in financial practices.

By the end of the course, students will be able to confidently navigate the accounting process, apply critical thinking to financial data, and uphold ethical standards in reporting. This course is ideal for beginners in accounting, business students, or professionals aiming to enhance their financial literacy. No prior accounting knowledge is required, though a basic understanding of business operations is beneficial. The course includes practical exercises, case studies, and assessments to reinforce learning and ensure practical application of concepts.

Learn and Master the Financial Accounting Process.

• Understand that accounting is the language of business.

• Know business terminology (biz speak).

• Understand the difference between a corporation and a single proprietorship.

• Know the three forms of business - service company, merchandise company and a manufacturer.

• Understand an Income Statement and how to prepare one.

• Understand a Balance Sheet and how to prepare one.

• Know how to analyse and record business transactions

• Learn how to use debits and credits to record business transactions.

• Know how to use the accounting journal and ledger,

• Complete a set of accounting records for a service business using excel spreadsheets.