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Financial Accounting Fundamentals 2021

This course is designed for any business owner, entrepreneur, or individual looking to increase your knowledge of financial accounting so that you are ready to make those important decisions about your business today!

Course Outline:

Week 1 – Better understanding of a balance sheet

  • Clear definition of assets, liabilities, and equity
  • What is the accounting equation and why does it matter?
  • What can the balance sheet tell us about the health of the company?
  • Taking a look at my own balance sheet – are there areas that need to be cleaned up?

Week 2 – Profit & Loss Statement

  • Understanding the fundamentals of the profit & loss statement
  • What are the different structure/organization options for my profit & loss statement?
  • Reviewing my own Profit & Loss Statement – are there changes I would like to make to my chart of accounts?

Week 3 – Digging into the details of The Statement of Cash Flows

  • What is the purpose of the statement of cash flows?
  • How to better understand the format of the statement of cash flows?
  • Using the statement of cash flows to evaluate business performance
  • How to create my own statement of cash flows

Week 4 – Basics of Financial Statement Analysis

  • How can I analyze financial statements?
  • Reviewing various financial ratios and what they can tell us about the business
  • Putting together a list of financial ratios to review weekly/monthly