Principles of Financial Accounting

Financial Accounting

Created by Dr. John McLellan, Last Updated 22-Jan-2021, Language:English

What Will I Get ?

Know how to identify a business transaction
Be able to record transactions using debits and credits
Be able to post to the ledger
Prepare an income statement and balance sheet
Complete the accounting records for a small business

Requirements

some understanding of Excel

Description

This is an introductory financial accounting course that covers all the financial accounting concepts offered in an introductory financial accounting course at university or college.

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.
Complete a set of accounting records for a merchandise company using excel spreadshe

Course Content

Accounting the Language of Business

1 Lectures 00:14:06
- Introduction to Accounting
  
  Preview
  
  00:14:06
Know how to present the Income Statement and Balance Sheet

3 Lectures 00:28:46
- Financial Statements
  
  Preview
  
  00:12:20
- The Classified Balance Sheet
  
  00:09:19
- Problem on financial statements
Introduction to Analyzing Business Transactions

2 Lectures 00:29:02
- Business Transactions
  
  00:14:32
- Problem Jarvis Consulting
  
  00:14:30
Introduction to Debits and Credits

1 Lectures 00:06:02
- Debits and Credits
  
  00:06:02
Know how to Journalize Business Transactions

1 Lectures 00:08:34
- Recording Process
  
  00:08:34
Introduction to Adjusting entries

1 Lectures 00:17:11
- Adjusting Entries
  
  00:17:11
Practice Set - Fraser's Golf Academy

3 Lectures 00:16:59
- Meet Fraser
  
  00:01:37
- Fraser's Excel
  
  00:00:50
- Fraser's Video Solution
  
  00:14:32

Dr. John McLellan

Dr John

I am a Professor of Accounting with over thirty-five years experience teaching accounting to college students, undergraduate and MBA university students as well as CMA candidates seeking to earn their Professional Certified Management Accountant Designation.

I achieved my Certified Management Accountant Designation 40 years ago. With that I then earned my Masters of Business Administration degree and later a PHD in accounting.

I have developed and will continue to develop a number of courses in both Financial Accounting and Management Accounting for you - a college or university student (or even a secondary student) to help you to achieve the best result in your undergraduate accounting course. If you get an "A" from me I guarantee you will get an "A" from your accounting prof.

For Graduate students, I have a course to prepare those of you who do not have a business degree for the Masters of Business Administration. Also I have a course at the masters level called Managerial Accounting.

For CMA Candidates, I have courses to prepare you to successfully pass their Certified Management Accounting Exams offered by Institute of Management Accountants.

Dr. John