Brain Bites - Business Accounting Basics, Part 2
Reading Financial Reports
Bigger Brains
Summary
- Reed Courses Certificate of Completion - Free
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Overview
You will be able to:
- Explain how the Accounting Equation relates to the balance sheet
- Define key terms associated with double-entry bookkeeping
- Differentiate between normal debit balance and normal credit balance accounts
- Identify three main components of the balance sheet
- Read a balance sheet
- Describe the use of Debits and Credits on Balance sheet accounts
- Differentiate between fixed and intangible assets
- Read an income statement
- Examine how an income statement demonstrates an organization's success
- Read a statement of cash flows
- Differentiate among three types of cash recorded on the statement of cash flows
Curriculum
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Description
Learn the basics of three key financial accounting reports. Beginning with foundational terms and concepts and working through a step-by-step overview of each, this course will provide you with the knowledge you need to read the balance sheet, the income statement, and the statement of cash flows.
You’ll learn how an account’s normal balance determines the effect of debits and credits on the account, and how financial accounts are organized in the chart of accounts.
Reviewing the Balance sheet, you’ll learn how distinct types of assets, liabilities, and equity accounts are handled and how depreciation and amortization are applied. You’ll see how the income statement (P&L report) demonstrates an organization’s success through the recording of revenue and expenses and how the statement of cash flow reports records operating, investing, and financing activities during a specific accounting period.
Who is this course for?
Business professionals who want to be able to read a balance sheet, an income statement(P&L report), and a cash flow statement.
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Certificates
Reed Courses Certificate of Completion
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Will be downloadable when all lectures have been completed.
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This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.
