- This course explains financial statements like the balance sheet, income statement, and cash flow statement
- For the entrepreneurs who want to learn the basics of financial accounting
- Helps you understand how to record revenue and expense transactions, and how to prepare a financial statement
This course will teach you the tools you’ll need to understand the fundamentals of financial accounting and the financial records of a small business. It will guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows. Beyond recording transactions, you’ll learn how to prepare these financial statements, and read and analyze them to draw basic conclusions about a company’s financial health.
By the end of this course, you will be able to:
- Use journal entries to record transactions
- Prepare and use T-accounts to summarize transactions recorded during an accounting period
- Describe the three most commonly used financial statements and how they fit together
- Prepare these financial statements based on transactions recorded during an accounting period
- Draw basic conclusions about a company’s financial health
